Notes to the consolidated financial statements
30 Related party transactions continued
31 Share-based compensation
31 www.ahold.com/reports2008
Financial statements
AHOLD ANNUAL REPORT 2008 96
These unconsolidated related parties consist of:
ICA, a joint venture of Ahold in the retail business;
JMR, a joint venture of Ahold in the retail business;
Stationsdrogisterijen C.V., a joint venture of Ahold in the health and beauty care retail business;
Accounting Plaza B.V., an associate of Ahold that renders accounting and administrative services to certain Ahold subsidiaries
in the Netherlands, Czech Republic and Slovakia;
A.M.S. Coffee Trading AG, an associate of Ahold that generates sales transactions with Ahold Coffee Company;
Kobalt Media Services B.V., a former associate of Ahold that renders promotional and advertising services to certain Ahold
subsidiaries in the Netherlands. Ahold sold its stake in Kobalt Media Services B.V. in December 2007;
Several related parties of Schuitema rendered services in support of certain projects of franchisees and associated food retailers
serviced by Schuitema;
Ahold Dutch managers and employees. In January 1994, July 1996 and April 1998, Ahold granted loans to certain of its Dutch
managers and employees to purchase investments in the Dutch Customer Fund, an independent investment fund that primarily
invested all of its assets in Ahold's shares and debt. These loans were repaid in 2008. For more information on these loans,
see Note 17;
Other includes mainly real estate joint ventures, in which Ahold has an interest, holding properties operated by Ahold, and Loyalty
Management Nederland B.V., an associate of Ahold that renders services relating to the management of customer loyalty programs
to certain Ahold subsidiaries in the Netherlands.
Furthermore, the Company's post-employment benefit plans in the Netherlands and the United States are considered related parties.
For more information on these plans, see Note 22.
In 2008, Ahold's share-based compensation program consisted of a conditional share grant program (Global Reward Opportunity
"GRO"). This program, introduced in 2006, replaced the Company's share option plans. In addition, conditional shares are
incidentally granted to employees outside the GRO program as part of their remuneration. In principle, plan rules will not be altered
during the term of the plans. Total share-based compensation expenses were as follows:
million
2008
2007
GRO program
24
17
Other conditional shares
7
6
Share option plans
1
7
Total share-based compensation expenses
32
30
Ahold's share-based compensation programs are equity-settled. At December 28, 2008, the Company held 15,202,890 of its own
shares for delivery under share-based compensation programs (December 30, 2007: 19,965,205).
The grant date fair value of the shares granted under the GRO program in 2008 was EUR 45 million, of which EUR 4 million related
to Corporate Executive Board members. This fair value is expensed over the vesting period of the grants. For the share-based
compensation expenses allocable to the individual Corporate Executive Board members, see Note 30.
