APC 2009 Annual Report Download - page 148

2009 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC146
CONSOLIDATED FINANCIAL STATEMENTS
5NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
21.5 - Share-based payment
Current stock option and stock grant plans
The Board of Directors of Schneider Electric SA and later the Management Board have set up stock option and stock grant plans for senior
executives and certain employees. The main features of these plans were as follows at December 31, 2009:
Stock option plans
Plan no. Date of Board Meeting Type (1)
Starting date
ofexercise period Expiration date
Price
(ineuros)
before
adjustment
Number
ofoptions
initially
granted
Options
cancelled
because targets
not met
18 Mar. 24, 2000 A Mar. 24, 2003 Mar. 23, 2008 65.24 1,421,200 686,600
19 Apr. 04, 2001 S Apr. 04, 2005 Apr. 03, 2009 68.13 1,557,850 NA (2)
20 Dec. 12, 2001 S Dec. 12, 2005 Dec. 11, 2009 51.26 1,600,000 166,800
21 Feb. 05, 2003 S Feb. 05, 2007 Feb. 04, 2011 45.21 2,000,000 141,900
22 Feb. 05, 2003 S Jun. 05, 2003 Feb. 04, 2011 45.21 111,000 NA (2)
23 May. 06, 2004 S Oct. 01, 2004 May. 05, 2012 55.55 107,000 NA (2)
24 May. 06, 2004 S May. 06, 2008 May. 05, 2012 55.55 2,060,700 94,300
25 May. 12, 2005 S Oct. 01, 2005 May. 11, 2013 56.47 138,500 NA (2)
26 Jun. 28, 2005 S Jun. 28, 2009 Jun. 27, 2013 60.19 2,003,800 -
27 Dec. 01, 2005 S Dec. 01, 2009 Nov. 30, 2013 71.40 1,614,900 -
28 Dec. 21, 2006 S or P Dec. 21, 2010 Dec. 20, 2016 81.34 1,257,120 -
29 Apr. 23, 2007 S or P Apr. 23, 2011 Apr. 22, 2017 97.05 83,150 -
30 Dec. 19, 2007 S or P Dec. 19, 2011 Dec. 18, 2017 92.00 944,926 490,463
31 Jan. 05, 2009 S or P Jan. 05, 2013 Jan. 04, 2019 52.12 679,000 -
32 Aug. 21, 2009 S or P Aug. 21, 2013 Aug. 20, 2019 62.61 5,000 -
33 Dec. 21, 2009 S or P Dec. 21, 2013 Dec. 20, 2019 75.84 826,343 -
TOTAL 16,410,489 1,580,063
(1) S = Options to subscribe new shares. P = Options to purchase existing shares.
(2) Not applicable because no vesting conditions were set.
Rules governing the stock option plans are as follows:
•to exercise the option, the grantee must be an employee or
corporate offi cer of the Group. Exercise is also conditional on the
achievement of performance criteria;
•the options expire after eight to ten years;
•the vesting period is three or four years in the United States and
four years in the rest of the world.
Stock grants
Plan no. Date of Board Meeting Vesting date End of lock-up period Number of shares initially granted
Grants cancelled
because targets
notmet
1 Dec. 21, 2006 Dec. 21, 2009 Dec. 21, 2011 52,006 -
2 Apr. 23, 2007 Apr. 23, 2010 Apr. 23, 2012 2,214 -
3 Dec. 19, 2007 Dec. 19, 2010 Dec. 19, 2012 66,394 34,717
4 Dec. 19, 2007 Dec. 19, 2011 Dec. 19, 2011 57,250 29,088
5 Jan. 05, 2009 Jan. 05, 2012 Jan. 05, 2014 143,715 -
6 Jan. 05, 2009 Jan. 05, 2013 Jan. 05, 2013 212,351 -
7 Aug. 21, 2009 Aug. 21, 2012 Aug. 21, 2014 1,250 -
8 Dec. 21, 2009 Dec. 21, 2012 Dec. 21, 2014 159,753 -
9 Dec. 21, 2009 Dec. 21, 2013 Dec. 21, 2013 390,095 -
TOTAL 1,085,028 63,805
Rules governing the stock grant plans are as follows:
•to receive the stock, the grantee must be an employee or
corporate offi cer of the Group. Vesting is also conditional on the
achievement of performance criteria;
•the vesting period is three to four years;
•the lock-up period is zero to two years.