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56 Unilever Annual Report and Accounts 2007
Report of the Directors continued
Executive Directors’ share options
Options to acquire NV ordinary shares of €0.16 each and options to acquire PLC ordinary shares of 31⁄9p each were outstanding, were
exercised or lapsed during 2007. No option awards were made in 2007.
Options outstanding Options outstanding
below market price above market price
at 31 December 2007 at 31 December 2007
Number
Balance of of options Balance of Weighted Weighted
options at exercised/ options at average average First Final
Share 1 January lapsed 31 December Number exercise Number exercise exercisable expiry
type 2007 in 2007 2007 of options price of options price date date
Patrick Cescau
Executive Plan NV 269 166 (27 000)(a) 242 166 242 166 €19.50 – – 24/03/02 08/11/15
Executive Plan PLC 272 967 (27 000)(b) 245 967 245 967 1 175p – – 24/03/02 08/11/15
NL All-Employee Plan NV 750 (150)(c) 600 600 €17.53 – – 02/06/03 17/05/11
UK ShareSave Plan PLC 1 374 – 1 374 1 374 1 171p – – 01/10/11 31/03/12
Kees van der Graaf
Executive Plan NV 135 450 – 135 450 135 450 €19.70 – – 24/03/02 08/11/15
Executive Plan PLC 135 450 – 135 450 135 450 1 203p – – 24/03/02 08/11/15
NL All-Employee Plan NV 750 (150)(d) 600 600 €17.53 – – 02/06/03 17/05/11
UK ShareSave Plan PLC 1 374 – 1 374 1 374 1 202p – – 01/10/10 31/03/11
Ralph Kugler
Executive Plan NV 176 625 – 176 625 176 625 €19.41 – – 24/03/02 20/03/15
Executive Plan PLC 176 625 – 176 625 176 625 1 163p – – 24/03/02 20/03/15
NL All-Employee Plan NV 300 – 300 300 €17.59 – – 18/05/05 17/05/11
UK ShareSave Plan PLC 1 374 – 1 374 1 374 1 202p – – 01/10/10 31/03/11
Rudy Markham
Executive Plan NV 237 150 – 237 150(e) 237 150 €19.67 – – 24/03/02 31/10/09
Executive Plan PLC 237 150 – 237 150(e) 237 150 1 212p – – 24/03/02 31/10/09
NL All-Employee Plan NV 750 (150)(d) 600(e) 600 €17.53 – – 02/06/03 17/05/11
UK ShareSave Plan PLC 1 373 – 1 373(e) 1 373 1 190p – – 01/11/07 30/04/08
(a) Options in respect of 27 000 shares exercised on 1 November 2007 at a market value of €23.24. The options would have expired
7 November 2007 if not exercised before. The options had originally been granted on 8 May 1998 at a price (after taking into account the
share split in May 2006) of €23.10.
(b) Options in respect of 5 355 shares exercised on 8 May 2007 at a market price of 1 658p. Further options in respect of 21 645 shares
exercised on 26 September 2007 at a market price of 1 585p. The options would have expired 7 November 2007 if not exercised before.
The options had originally been granted on 8 May 1998 at a price (after taking into account the share consolidation in May 2006) of
1 483p.
(c) Options lapsed without value on 12 June 2007.
(d) Options exercised on 8 May 2007 at a market value of €23.75. The options had originally been granted on 12 June 2002 at a price (after
taking into account the share split in May 2006) of €22.63.
(e) Balances are at May 2007 when he stepped down as a Director. On 2 November 2007, 33 750 options each of NV and PLC were exercised
at €23.64 and 1 725p respectively. The original grant prices were €23.10 and 1 483p. On 27 December 2007, a further 96 750
NV and 164 250 PLC options were exercised at €25.32 and 1 902p. The original grant prices were on average €17.21 and 1 158p.
The term ‘Executive Plan’ refers to options granted under the PLC or NV Executive Option Plans.
The closing market prices of ordinary shares at 31 December 2007 were €25.15 (NV shares) and 1 890p (PLC shares). During 2007 the highest
market prices were €25.72 and 1 924p respectively, and the lowest market prices were €18.89 and 1 320p respectively.
Report of the Remuneration Committee continued