APC 2003 Annual Report Download - page 26

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5. Stock buybacks
The Annual Shareholders’ Meeting of May 27, 2002
authorized the Board of Directors to buy back shares
on the open market. Pursuant to this authorization, the
Company purchased 6,637,487 shares at an average
unit price of € 48.80 in 2002.
The Annual Shareholders’ Meeting of May 16, 2003
authorized the Board of Directors to buy back shares
on the open market. Pursuant to this authorization, the
Company had purchased 693,173 shares at an aver-
age unit price of € 50.33 as of February 19, 2004.
The related transaction costs amounted to €172,925.
At its meeting of March 5, 2003, the Board of Directors
used the authorization granted by the Annual
Shareholders’ Meeting of May 27, 2002 to cancel 12
million shares bought back by the Company pursuant
to authorizations granted by the Annual Shareholders’
Meetings of June 12, 1998, May 6, 1999, May 5, 2000,
June 11, 2001 and May 27, 2002.
At December 31, 2003, the Company held 6,716,753
of its own shares in treasury.
General Presentation of Schneider Electric SA
24
Outstanding options
Plan Date Type Number Options Options Starting Expiration Price Options Options Number
no. of Board (1) of options granted to granted to date date (in euros) exercised cancelled of options
Meeting outstanding corporate the top 10 of exercise in 2003 in 2003
outstanding
(2) officers employee period at Dec. 31,
(2) grantees (2) 2003
9 04/07/95 S 362,800 - - 04/07/00 04/06/03 24.93 362,800 0 0
10 04/07/95 S 50,870 - - 04/07/00 04/06/03 24.93 45,270 5,600 0
11 06/13/96 S 353,940 - - 06/13/01 06/12/04 35.37 263,990 - 89,950
12 01/24/97 S 1,198,200 - - 01/24/00 01/23/04 35.67 1,166,200 5,000 27,000
13 06/10/97 S 653,630 - - 06/10/00 06/09/04 44.52 119,920 1,500 532,210
14 01/28/98 P 1,001,800 - - 01/28/01 01/27/05 50.77 - 4,400 997,400
15 12/22/98 P 46,700 46,700 - 12/22/01 12/21/05 50.86 - - 46,700
16 04/01/99 P 937,700 85,600 118,200 04/01/02 03/31/07 50.73 - 9,200 928,500
17 04/01/99 P 963,200 107,400 124,000 04/01/02 03/31/07 50.73 - 9,500 953,700
18 03/24/00 P 682,950 63,000 87,900 03/24/03 03/23/08 65.88 - 38,300 644,650
19 04/04/01 S or P 1,518,825 205,500 163,600 04/04/05 04/03/09 68.80 - 33,300 1,485,525
20 12/12/01 S 1,600,000 100,000 333,000 12/12/04 12/11/09 51.76 - 71,100 1,528,900
21 02/05/03 S or P 2,000,000 150,000 345,000 02/04/07 02/04/11 45.65 - 49,600 1,950,400
22 02/05/03 S 111,000 10,000 06/05/03 02/04/11 45.65 - 18,000 93,000
(1) S = Options to subscribe new shares / P = Options to purchase existing shares.
(2) After cancellations because targets were only partially met and before any cancellations in relation to plans 20 and 21.