Logitech 2015 Annual Report Download - page 246

LOGITECH INTERNATIONAL S.A., APPLES
NOTES TO SWISS STATUTORY FINANCIAL STATEMENTS (Continued)
(2) The number of shares held includes (a) 53,000 shares held by a charitable foundation, of which
Mr. Daniel Borel and other members of his family are board members and (b) 6,500 shares held by
Mr. Borel’s spouse. Mr. Borel has not entered into any written shareholders’ agreements.
(3) Mr. Chang did not stand for re-election as a director at the Annual General Meeting in September
2013. Shares held are as of August 15, 2014, the last date as of which the Company had information
with respect to shares held by Mr. Chang.
(4) The exercise price of the option as granted to Ms. Sally Davis is CHF 34.45. The U.S. dollar exercise
price shown is based on the Swiss Franc to U.S. Dollar conversion rate as of March 31, 2014. The
U.S. Dollar exercise price as of March 31, 2014 was $38.93.
(5) Mr. Guerrino De Luca, Logitech’s Chairman, is an executive member of the Board of Directors and
his compensation, including equity awards, is structured similarly to the members of the Group
Management Team. Two options granted to Mr. Guerrino De Luca have exercise prices of CHF
15.21 and CHF 18.85. The U.S. Dollar exercise prices are based on the Swiss Franc to U.S. Dollar
conversion rate as of March 31, 2014. The U.S. Dollar exercise prices as of March 31, 2014 were
$17.20 and $20.97.
(6) Mr. Didier Hirsch was first elected as a director at the Annual General Meeting in September 2012.
(7) The two option grants to Ms. Monika Ribar have exercise prices of CHF 14.68 and CHF 34.45.
The U.S. Dollar exercise prices are based on the Swiss Franc to U.S. Dollar conversion rate as of
March 31, 2014. The U.S. Dollar exercise prices as of March 31, 2014 were $16.58 and $38.93.
(8) Mr. Bracken Darrell, Logitech’s President and Chief Executive Officer, is also a member of the Board
of Directors.
(9) Mr. Erik Bardman resigned as an executive officer of the Company in April 2013.
Note 10 — Risk Assessment:
At a company-wide level, Logitech’s internal audit function coordinates management’s risk
assessment process, which encompasses financial and operational risks, and reports to senior
management and to the Audit Committee of the Board of Directors. Material risks are assessed and
discussed by the Board of Directors, as appropriate. Financial risk assessment and management is
integrated into the functions of the Company’s Treasury, Finance and Business group operations, with
oversight from the Audit Committee. Financial reporting risk is addressed through the Company’s
Corporate Accounting, Financial Reporting and SOX Compliance operations and processes. Operational
risk assessment and management is integrated into the functions of the Company’s Business groups,
with support from specialized departments such as Product Quality, Supply Chain, Legal and Finance.
Material financial and financial reporting risks are reported to and reviewed with the Audit Committee and
the Board of Directors, as appropriate, and material operational risks are reported to and reviewed with
the Board of Directors.
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Note 9 — Share Ownership of Board Members and Executive Officers: (Continued)
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Annual Report Fiscal Year 2015