Non-U.S. Operating Entities Stock Options Plans
Exercise
Price
Exercise
Period
Delhaize Group Annual Report 2014 139
Until 2013, Delhaize Group granted stock options to vice presidents and above of its non-U.S. operating entities.
25% of the options granted under these plans vest immediately and the remaining options vest after a service period of
approximately 3% years, the date at which all options become exercisable. Options expire seven years from the grant date.
Delhaize Group stock options granted to employees of non-U.S. operating companies were as follows:
Plan
Effective
Date of
Grants
2013 grant under the 2007
Stock option plan
2012 grant under the 2007
Stock option plan
2011 grant under the 2007
Stock option plan
2010 grant under the 2007
Stock option plan
2009 grant under the 2007
Stock option plan
2008 grant under the 2007
Stock option plan
2007 grant under the 2007
Stock option plan
December
2013
November
2013
May 2013
November
2012
May 2012
June 2011
June 2010
June 2009
May 2008
June 2007
Number of
shares
Underlying
Award
Issued
93 063
15 731
267 266
35 000
362 047
290 078
198 977
230 876
237 291
185 474
Number of shares
Underlying Awards
Outstanding at
December 31, 2014
93 063
15 731
258 158
35 000
361 236
283 490
170 651
102 411
81 991
157 041
€41.71
€43.67
€49.85
€26.39
€30.99
€54.11
€66.29
€50.03
€49.25
€71.84
Number of
Beneficiaries (at
the moment
of issuance)
1
111
95
83
80
73
318
619
Jan. 1, 2017 -
May 29, 2020
Jan. 1, 2017 -
May 29, 2020
Jan. 1, 2017 -
May 29, 2020
Jan. 1, 2016 -
May 24, 2019
Jan. 1, 2016 -
May 24, 2019
Jan. 1, 2015 -
June 14, 2018
Jan. 1, 2014 -
June 7, 2017
Jan. 1, 2013 -
June 8, 2016
Jan. 1, 2012 -
May 29, 2015
Jan. 1, 2011 -
June 7, 2017'
(1)
(1) In 2009, Delhaize Group offered to the beneficiaries of the 2007 grant (under the 2007 stock option plan) the exceptional choice to extend the exercise period
from 7 to 10 years. This was accounted as a modification of the plan and the non-significant incremental fair value granted by this extension, measured in
accordance with IFRS 2, was accounted over the remaining vesting period. In accordance with Belgian law, most of the beneficiaries of the 2007 Stock option
plan agreed to extend the exercise period of their stock options for a term of three years. The very few beneficiaries who did not agree to extend the exercise
period of their stock options continue to be bound by the initial expiration date of the exercise period of the plan, i.e., June 7, 2014.
Activities associated with non-U.S. stock option plans were as follows:
2014
Shares
Weighted Average Exercise
Price (in
Outstanding at beginning of year
1 778 028
49.25
Exercised
(225 643)
49.59
Forfeited
6 387
42.74
Outstanding at end of year
1 558 772
49.17
Options exercisable at end of year 795 584 59.20
2013
Shares
Weighted Average Exercise
Price (in
Outstanding at beginning of year
1 606 255
49.95
Granted
376 060
47.58
Exercised
(11 166)
49.56
Forfeited
(58 753)
57.02
Expired
(134 368)
49.55
Outstanding at end of year
1 778 028
49.25
Options exercisable at end of year
738 166
58.39
