Basic HTML Version
LISI 2011 —
102
— financial report
Information regarding the Company and corporate governance
Plan of 2011
Acting on the recommendation of the Compensation Committee,
LISI’s Board of Directors decided, on July 26, 2011, with the permission
of the General Meeting of April 29, 2009, to allocate performance
shares to members of the Executive Committee and to members of
the main Management Committees for the three LISI Group divisions,
subject to their meeting all or part of certain performance targets:
reaching on December 31, 2012, one criterion, namely Net Asset
Value of at least €975 million. If the Net Asset Value is between
€700m and €975 million, the shares would be allocated in part for
every €55 million. The maximum allocated number of shares is 48,150
shares and concerns 143 French employees.
The plan also stipulates that shares thus allocated shall be held for two
years, during which period they may not be sold on.
As far as the corporate officers are concerned, the Board of Directors
decided:
1) In order to receive at maturity all or part of the Performance Shares
to which they are entitled, each of the corporate officer directors
shall, at the end of the acquisition period, acquire 200 Company
shares.
2) The corporate officer directors shall retain 200 of any shares which
may have been allocated to them registered in their own name, and
until the termination of their employment.
69 employees outside of France will benefit from bonuses based on
the principles and conditions, but in the form of pay and salaries.
c) Information relating to share-purchase options
and the awarding of shares based on performance
on December 31, 2011
The table below shows the information relating to share-purchase
options and performance-based shares outstanding as at
December 31, 2011:
Number
Average
weighted
exercise
price of
options
in €
Options outstanding at year start
147,475
Options allocated during the period
48,150
Options cancelled during the period
(44,300)
Options exercised during the year
(47,225)
22.78
Options that reached maturity during
the period
Options outstanding at year end
104,100
The following table presents information about outstanding stock options by date as at December 31, 2011:
Allotment date of options
Exercise price in €
Number of options outstanding
at December 31, 2011
Residual contractual term
07/28/2010
None
56,250
07/28/2014
07/28/2010
None
600
07/28/2012
07/28/2011
None
47,250
02/26/2014
Total
104,100