121
Notes to the consolidated financial statements continued
32 Share-based compensation continued
Ahold
Annual Report 2011
Groupata glance
Performance
Governance
Investors
The conditional shares granted through the long-term component are subject to a performance condition. The number of shares that
will ultimately vest depends on Ahold's performance compared to 11 other retail companies (refer to the Remuneration section for the
composition of the peer group), measured over a five-year period using Total Shareholder Return (TSR), which is the sum of share price
growth and dividends. The table below indicates the percentage of conditional shares that could vest based on the ranking of Ahold within
the peer group:
Rank
1
2
3
4
5
6
7
8
9
10
11
12
Corporate Executive Board
150%
130%
110%
90%
70%
50%
25%
0%
0%
0%
0%
0%
Other participants
150%
135%
120%
105%
90%
75%
60%
45%
30%
15%
7.5%
0%
As of the end of 2011, Ahold held the third position with respect to the 2007 and 2008 share grant, the fourth position for the 2009 and
2010 share grant and the sixth position for the 2011 share grant. The 2007 grant's long-term component vests on the day after the
publication of the 2011 annual results. The final TSR ranking for this component is the third position (110 percent for Corporate Executive
Board members and 120 percent for other participants). The positions with respect to the 2008, 2009, 2010 and 2011 share grants are
not an indication of Ahold's final ranking at the end of the performance periods, nor do they provide any information related to the vesting
of shares.
Upon termination of employment due to retirement, disability, or death, the same vesting conditions as described above apply.
Upon termination of employment without cause (e.g. restructuring or divestment), a pro rata part of the granted shares will vest on the
date of termination of employment.
The following table summarizes the status of the GRO program during 2011 for the individual Corporate Executive Board members and
for all other employees in the aggregate.
