APC 2004 Annual Report Download - page 22

Download and view the complete annual report

Please find page 22 of the 2004 APC annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 148

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148

20
Options granted to the top ten employee grantees during the year
and exercised by the ten employees exercising the most options during the year
Number Price Expiration
of options (in euros) date
Options granted in 2004 to the top ten employee grantees
(not including corporate officers) 282,200 56.09 2012
Options exercised in 2004 by the ten employees
exercising the largest number of options during the year
(not including corporate officers) 77,000 43.53 (1) -
(1) Weighted average price
Stock option plan details
Plan Date Number Number Price Exercise criteria % of Number Number
no. of Board of initial of options in euros targets of options of options
Meeting grantees granted met cancelled outstanding
at Dec. 31,
(1) 2003 (2)
11 06/13/96 233 862,800 35.37 All options: ROE for 1994 to 1996 62.5 339,700 0
12 01/24/97 53 1,360,000 35.67 None N. A N. A 0
13 06/10/97 273 970,800 44.52 All options: ROE for 1995 to 1997 74.9 239,400 0
14 01/28/98 P 287 1,208,000 50.77 All options: ROE for 1996 to 1998 85.4 164,300 919,046
15 12/22/98 P 1 60,000 50.86 50% of options: value creation
for 1999 to 2001 55.4 13,300 46,700
16 04/01/99 P 337 1,259,300 50.73 50% of options: value creation
for 1999 to 2001 55.4 245,900 919,800
17 04/01/99 P 542 2,123,100 50.73 All options: sales, base costs
and operating income for 2001 47.7 1,078,600 944,100
18 03/24/00 P 1,037 1,421,200 65.88 50% of options: value creation
for 2000 to 2002 0 686,600 642,000
19 04/04/01 S 1,050 1,557,850 68.80 None N. A N. A 1,464,875
20 12/12/01 S 180 1,600,000 51.76 All options:
2004 sales and operating income - - 1,494,400
21 02/05/03 S/P 433 2,000,000 45.65 50% of options: operating margin
and operating income to capital
employed - - 1,921,200
22 02/05/03 S 111 111,000 45.65 None (reserved for
winners of the NEW2004 Trophies) N.A N. A 91,500
23 05/06/04 S 107 107,000 56.09 None (reserved for
winners of the NEW2004 Trophies) N.A N. A 107,000
24 05/06/04 S/P 402 2,060,700 56.09 50% of options in equal amounts
over 2004, 2005 and 2006: operating
margin - - 2,060,700
16,701,750
(1) Because targets were not met.
(2) Number of shares outstanding after deducting all shares cancelled and exercised since the plan began.