Philips 2004 Annual Report Download - page 161
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A summary of the status of the Company’s restricted share rights plan as of December 31 and
changes during the year is presented below:
Restricted share rights *
2003 2004
EUR –
denominated
shares
USD –
denominated
shares
EUR –
denominated
shares
USD –
denominated
shares
Outstanding at the beginning of the year – – 1,247,627 1,152,873
Granted 1,262,774 1,200,738 1,187,908 1,051,908
Vested/Issued – – (408,277) (365,118)
Forfeited (15,147) (47,865) (69,477) (163,097)
Outstanding at the end of the year 1,247,627 1,152,873 1,957,781 1,676,566
Weighted average fair value at grant date EUR 16.53 USD 17.84 EUR 23.40 USD 27.87
*Excludes incremental shares that may be received if shares awarded under the restricted share rights plan are not sold for a three-year
period.
O
33 Information on remuneration of the individual members of
the Board of Management and the Supervisory Board
Remuneration
Board of Management
Remuneration and pension charges relating to the members of the Board of Management
amounted to EUR 6,364,709 (2003: EUR 4,937,572, 2002: EUR 3,984,436). In 2004 an additional
amount of EUR 492,740 (2003: EUR 551,691, 2002: EUR 298,258) was awarded in the form of
other compensation. When pension rights are granted to members of the Board of
Management, necessary payments (if insured) and all necessary provisions are made (also for
the self-administered pensions) in accordance with the applicable accounting principles.
In 2004, no (additional) pension benefits were granted to former members of the Board of
Management.
In 2004, the present members of the Board of Management were granted 152,019 stock option
rights (2003: 167,220 stock option rights, 2002: 489,600 stock option rights) and 50,673
restricted share rights (2003: 55,740 restricted share rights). At year-end 2004, the members of
the Board of Management held 1,099,539 stock option rights (year-end 2003: 1,133,360) at a
weighted average exercise price of EUR 30.44 (year-end 2003: EUR 28.79).
160 Philips Annual Report 2004
Financial statements of the Philips Group