Expected dividend yield
U.S. Operating Entities Restricted and Performance Stock Unit Plan
FINANCIAL STATEMENTS
The following table summarizes share-based awards outstanding as of December 31, 2014, and the related weighted average
remaining contractual life (years) and weighted average exercise price under the share-based compensation plans for
employees of U.S. operating companies:
Weighted Average
Remaining Contractual Life Weighted Average Exercise
Range of Exercise PricesNumber Outstanding (in years) Price (in
$38.86 - $63.04
571 278
2.18
57.59
$64.75 - $74.76
784 639
3.98
69.48
$78.33 - $96.30
1 227 205
2.44
89.36
$38.86 - $96.30
2583 122
2.85
76.30
Stock options exercisable at the end of 2014 had a weighted average remaining contractual term of 2.38 years (2013: 2.85
years; 2012: 3.60 years).
The fair values of stock options granted and assumptions used for their estimation were as follows:
Nov. 2013
May 2013
Aug. 2012
May 2012
Share price (in
58.40
64.75
39.62
38.86
3.6
3.6
3.6
3.5
Expected volatility
27.5
27.9
27.1
27.9
Risk-free interest rate
1.2
0.8
0.5
0.6
Expected term (years)
4.4
4.4
4.2
4.2
Fair value of options granted (in
9.37
10.26
5.89
6.10
Restricted Stock Unit Plans
Until 2012, Delhaize Group granted restricted stock units to eligible Directors and above. As from 2013, Vice Presidents and
above no longer receive restricted stock units, instead they are awarded performance stock units (see below). Further, as from
the 2013 grant, the vesting scheme of these awards has been changed from a five-year period starting at the end of the second
year following the grant date into a cliff vesting after 3 years.
Restricted stock unit awards granted to employees of U.S. operating companies under the "Delhaize America 2012 Restricted
Stock Unit Plan" and the "Delhaize America 2002 Restricted Stock Unit Plan" (grants prior to 2012) were as follows:
Effective Date of Grants
May 2013
August 2012
May 2012
June 2011
June 2010
Fair value at grant
date
$64.75
$39.62
$38.86
$78.42
$78.33
Number of Shares
Underlying Award
Issued
72 305
40 000
126 123
128 717
123 917
Number of Shares
Underlying
Awards
Outstanding at
December 31, 2014
59 462
43 797
26 487
11 201
Number of
Beneficiaries
(at the moment of
issuance)
177
1
253
249
243
Activities related to the restricted stock unit plans were as follows:
2014Shares
Outstanding at beginning of year 231 299
Released from restriction (77 622)
Forfeited/expired (12 730)
Outstanding at end of year 140 947
2013Shares
Outstanding at beginning of year 458 733
Granted 72 305
Released from restriction (262 542)
Forfeited/expired (37 197)
Outstanding at end of year 231 299
