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Consolidated
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Note 20. Share-based compensation plans
20.2.1.
Equity-settled instruments
■
■
Transactions on outstanding instruments, which have occurred since January 1, 2013
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, 2012
53,406
20.5
3,884
Granted
-
na
2,782
Exercised
(a)
(3,362)
13.3
(1,409)
Forfeited
(354)
12.9
na
Cancelled
(194)
15.9
(199)
Adjusted
(b)
3,339
19.4
286
Balance as of December 31, 2013
52,835
19.7
5,344
Granted
-
na
380
Exercised
(a)
(11,264)
17.5
(1,600)
Forfeited
(717)
17.5
na
Cancelled
(c)
(571)
13.7
(440)
Adjusted
(b)
2,439
19.1
183
Balance as of December 31, 2014
(d) 42,722
19.3
(e) 3,867
Exercisable as of December 31, 2014
40,268
19.8
-
Acquired as of December 31, 2014
40,413
19.8
845
na: not applicable.
(a)
As of the dates of exercise of the stock options, the weighted average share price for Vivendi shares was €19.68 (compared to €16.21 for stock
options exercised in 2013).
(b)
In accordance with legal requirements, the number and strike price of stock options, as well as the number of performance shares were adjusted to
take into account the impact for the beneficiaries of the following distributions (please refer to Note 17):
–– on May 17, 2013: a dividend distribution of €1 per share from reserves with respect to fiscal year 2012; and
–– on June 30, 2014: an ordinary distribution of €1 per share from additional paid-in capital.
These adjustments have no impact on share-based compensation expenses related to the relevant stock option and performance share plans.
(c)
At its meeting on February 21, 2014, after review by the Human Resources Committee, the Supervisory Board approved the level of satisfaction of
objectives for the cumulative fiscal years 2012 and 2013 for the performance share plans and the last stock option plan granted in 2012. It confirmed
that not all the criteria that had been set were satisfied for fiscal year 2013. The final grant of the 2012 performance share and stock option plans
represents 88% of the original grant. Consequently, among the instruments cancelled in 2014 were 335,784 stock options and 239,207 performance
shares granted in 2012.
(d)
The total intrinsic value of outstanding stock options was €98 million.
(e)
The weighted-average remaining period before delivering performance shares was 0.8 year.
Please refer to Note 17 for the potential impact on the share capital of Vivendi SA of the outstanding stock options, the performance shares and bonus
shares.
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