283
Annual Report -
2013
-
Vivendi
4
Financial Report | Statutory Auditors’ Report on the Consolidated Financial Statements |
Consolidated
Financial Statements
| Statutory Auditors’ Report on the Financial Statements | Statutory Financial Statements
Note 22. Share-based compensation plans
The following table presents the value of outstanding SAR plans measured as of December 31, 2013:
2007
2006
Grant date
April 23,
April 13,
Data at grant date:
Strike price
(in US dollars)
41.34
34.58
Number of instruments granted
(in thousands)
1,281
1,250
Data at the valuation date (December 31, 2013):
Expected term
(in years)
1.6
1.1
Share price
(in US dollars)
26.29
26.29
Expected volatility
29%
29%
Risk-free interest rate
0.26%
0.23%
Expected dividend yield
5.25%
5.25%
Fair value of the granted option as of December 31, 2013
(in US dollars)
0.38
0.64
22.2.2.
Information on outstanding Vivendi plans since January 1
st
, 2012
■
■
Equity-settled instruments
Stock options
Performance shares
Number of
outstanding
stock options
(in thousands)
Weighted average
strike price of
outstanding stock options
(in euros)
Number of
outstanding
performance shares
(in thousands)
Balance as of December 31, 2011
49,907
21.5
2,961
Granted
2,650
13.7
1,918
Exercised
(479)
13.0
(981)
Cancelled
(411)
18.4
(138)
Adjusted
1,739
20.4
124
Balance as of December 31, 2012
53,406
20.5
3,884
Granted
-
na
2,782
Exercised
(a)
(3,362)
13.3
(1,409)
Forfeited
(354)
12.9
-
Cancelled
(194)
15.9
(199)
Adjusted
3,339
19.4
286
Balance as of December 31, 2013
(b) 52,835
19.7
(c) 5,344
Exercisable as of December 31, 2013
47,393
20.2
-
Acquired as of December 31, 2013
47,411
20.2
518
na: not applicable.
(a)
The weighted average share price for Vivendi shares at the dates of exercise for the options was €16.21 (compared to €16.70 for stock options
exercised in 2012).
(b)
The total intrinsic value of outstanding stock options was €64 million.
(c)
The weighted-average remaining period before issuing shares was 1.2 years.
Regarding the grant of 50 bonus shares in 2012, the remaining
number of bonus shares was 663 thousand as of December 31, 2013
(697 thousand as of December 31, 2012). During 2013, 34 thousand
shares were cancelled (32 thousand shares in 2012).
Please refer to Note 19 for the potential impact on the share capital of
Vivendi SA of the outstanding stock options, the performance shares
and bonus shares.
