HSBC 2011 Annual Report Download - page 249

247
Overview Operating & Financial Review Corporate Governance Financial Statements Shareholder Information
HSBC Private Bank France
HSBC Private Bank shares of €2
Dates of award Exercise price Exercisable At Exercised Lapsed At
from to from to from to 1 Jan 2011 during year during year1 31 Oct 20112
15 May
2001
1 Oct
2002
(€)
20.80
(€)
22.22
15 May
2002
1 Oct
2012 287,100 – 141,525 145,575
1 These options lapsed prior to the merger with HSBC France. Following the lapse of these options, the only options left outstanding on
31 October 2011 were those awarded on 1 October 2002.
2 These options were converted into options over HSBC France shares on completion of the merger. There were no options outstanding
on 31 December 2011.
HSBC France
HSBC France shares of €5
Exercisable At At
Date of award
Exercise price
(€)
from to 31 Oct 20111
Exercised
during year
Lapsed
during year
31 Dec 20112
1 Oct 2002 .............. 142.84 2 Oct
2005
1 Oct
2012 22,645 – – 22,645
1 These options replaced the options over shares in HSBC Private Bank France which were outstanding on 31 October 2011 prior to the
completion of the merger.
2 When exercised, options over HSBC France Shares will be exchanged for HSBC Holdings ordinary shares in the ratio of 13.499897
HSBC Holdings ordinary shares for each HSBC France share. At 31 December 2011, The CCF Employee Benefit Trust 2001 (Private
Banking France) held 989,502 HSBC Holdings ordinary shares which may be exchanged for HSBC France shares issued following the
exercise of these options.
HSBC Finance
Upon the acquisition of HSBC Finance in 2003, all
outstanding options over, and rights to receive,
HSBC Finance common shares were converted into
options over, and rights to receive, HSBC Holdings
ordinary shares in the same ratio as the share
exchange offer for the acquisition of HSBC Finance
(2.675 HSBC Holdings ordinary shares for each
HSBC Finance common share). The exercise price
payable for each option was adjusted using the same
exchange ratio.
Details of options to acquire shares in HSBC
Holdings under share plans of HSBC Finance are set
out in the following table. No further options will be
granted under share plans of HSBC Finance.
HSBC Finance: 1996 Long-Term Executive Incentive Compensation Plan
HSBC Holdings ordinary shares of US$0.50
Dates of award Exercise price Exercisable At Exercised Lapsed At
from to from to from to 1 Jan 2011 during year during year 31 Dec 20111
12 Nov
2001
20 Nov
2002
(US$)
9.29
(US$)
18.62
12 Nov
2002
20 Nov
2012 11,117,826 – 8,688,288 2,429,538
1 At 31 December 2011, the HSBC (Household) Employee Benefit Trust 2003 held 2,335,315 HSBC Holdings ordinary shares and 1,455
American Depositary Shares, each of which represents five HSBC Holdings ordinary shares which may be used to satisfy the exercise of
employee share options.
HSBC Bank Bermuda
Upon the acquisition of HSBC Bank Bermuda in
2004, all outstanding options over HSBC Bank
Bermuda shares were converted into options to
acquire HSBC Holdings ordinary shares using an
exchange ratio calculated by dividing US$40 (being
the consideration paid for each HSBC Bank
Bermuda share) by the average price of HSBC
Holdings ordinary shares over the 5 day period to
the completion of the acquisition. The exercise price
payable for each option was adjusted using the same
exchange ratio.
Details of options to acquire shares in HSBC
Holdings under the share plans of HSBC Bank
Bermuda are set out in the following table. No
further options will be granted under the share plans
of HSBC Bank Bermuda.