APC 2013 Annual Report Download - page 218

5CONSOLIDATED FINANCIALSTATEMENTS ATDECEMBER 31, 2013
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
To exercise the options granted under plans26 to33, and the In respect of subscription vesting conditions for current stock
SARs, the grantee must be an employee or corporate officer of option plans, Schneider ElectricSA has created 3,788,938shares
the Group. In addition, exercise of some options is generally in2013.
conditional on the achievement of annual objectives based on
financial indicators.
Change in the number of stock grants
Number of shares
Number of stock grants Number of existing or new Number of shares
Plan no. outstanding at Dec.31, 2013atDec.31, 2012 shares grants in2013 cancelledin2013
6 362,796 (357,420) (5,376) -
7 --- -
8 --- -
9 713,890 (670,698) (43,192) -
10 657,952 (646,543) (11,409) -
11 1,106,826 - (69,125) 1,037,701
10 bis 3,000 (2,952) (48) -
11 bis 5,882 - (94) 5,788
12 19,850 - - 19,850
13 646,743 - (10,500) 636,243
13 ter 625 - - 625
14 1,354,386 - (61,615) 1,292,771
14 ter 600 900 - 1,500
15 - 645,550 (5,600) 639,950
15 bis - 4,500 - 4,500
16 - 1,844,830 (47,350) 1,797,480
16 bis - 19,600 - 19,600
TOTAL 4,872,550 4,191,193 (254,309) 5,456,008
For stock grants to vest, the grantee must be an employee or corporate officer of the Group. In addition, vesting of some stock grants is
conditional on the achievement of annual objectives based on financial indicators.
21.5.1 Valuation of share-based payments
Stock option valuation
expected volatility of between 20% and 28%, corresponding to
l
capped historical volatility;
In accordance with the accounting policies described in note1.20, a payout rate of between 3.0% and 4.5%;
l
the stock option plans have been valued on the basis of an a discount rate of between 2.9% and 4.5%, corresponding to a
l
average estimated life of between seven and ten years using the risk-free rate over the life of the plans (source: Bloomberg).
following assumptions:
Based on these assumptions, the amount recorded under “Selling, general and administrative expenses” for stock grant plans set up after
November7, 2002 breaks down as follows:
Full year 2013 Full year 2012
Plan 31 -1
Plan 32 0-
Plan 33 33
TOTAL 34
216 2013 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC