APC 2014 Annual Report Download - page 217

CONSOLIDATED FINANCIAL STATEMENTS AT DECEMBER31,2014
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Outstanding options and grants
Change in the number of options
Number of options Number of options
Number of options Number of optionsexercised and/or cancelled or restated
Plan no. outstanding Dec.31, 2013 createdin2014 in2014(1) outstanding Dec.31, 2014
28 867,055 (172,913) 754 693,388
29 70,875 (1,900) 3,577 65,398
30 476,827 (99,239) (2,990) 380,578
31 557,359 (162,805) (1,237) 395,791
33 1,336,114 (417,756) (11,137) 929,495
TOTAL 3,308,230 (854,613) (11,033) 2,464,650
Including cancellations due to targets not being met or options being granted to employees without being exercised.(1)
To exercise the options granted under plans28 to33, and the In respect of subscription vesting conditions for current stock
SARs, the grantee must generally be an employee or corporate option plans, Schneider ElectricSE has created 1,807,827shares
officer of the Group. In addition, exercise of some options is in2014.
generally conditional on the achievement of annual objectives
based on financial indicators.
Change in the number of performance shares
Number of shares
Number of performance Number of existing or new Number of shares outstanding at Dec.31,
Plan no. shares atDec.31, 2013 shares grants in2014 cancelledin2014 2014
11 1,037,701 (962,495) (75,206) -
11 bis 5,788 - - 5,788
12 19,850 - - 19,850
13 and 13 bis 636,243 (633,468) (2,775) -
13 ter 625 (625) - - 5
14 and 14 bis 1,292,771 (875) (76,527) 1,215,369
14 ter 1,500 - - 1,500
15 639,950 - (7,200) 632,750
15 bis 4,500 - - 4,500
16 1,797,480 (800) (80,575) 1,716,105
16 bis 19,600 - - 19,600
17 714,480 (1,900) 712,580
17 bis 500 - 500
18 2,177,020 (94,800) 2,082,220
18 bis 30,900 (200) 30,700
TOTAL 5,456,008 1,324,637 (339,183) 6,441,462
For performance shares to vest, the grantee must be an employee an average estimated life of between four and five years using the
or corporate officer of the Group. In addition, vesting of some following assumptions:
performance shares is conditional on the achievement of annual a payout rate of between 3.0% and 4.5%;
l
objectives based on financial indicators. a discount rate of between 0.7% and 3.4%, corresponding to a
l
21.5.1 Valuation of performance shares
risk-free rate over the life of the plans (source: Bloomberg).
In accordance with the accounting policies described in
note1.20, the stock grant plans have been valued on the basis of
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2014 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC