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At its 26th May 2000, 20th October 2000, 12th July 2001, 9th August 2002, 10th October 2003, 8th October 2004, 9th December 2005 and 18th December 2006 meetings, the Board of Directors of the Company, using the authorisation given to it by the shareholders’ meetings of 24th May 2000, 10th May 2001, 6th May 2003, 11th May 2005 and 4th May 2006 approved the granting of stock options for subscription of shares in the Company.
At its 18th December 2006 meeting, the Board of Directors of the Company, using the authorisation given to it by the shareholders’ meeting of 4th May 2006 approved the granting of performance shares and restricted shares in the Company.
The principal characteristics of these options and performance and restricted shares as at 31st December 2006 are set out in the “Notes to the Consolidated Financial Statements (IFRS) — Note 31: Share-based Payment”. They are also set out in the table below:
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First tranche |
Second tranche |
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Date of shareholders’ Meeting |
24th May 2000 |
24th May 2000 |
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Date of Board of Directors Meeting (grant date) |
26th May 2000 |
20th October 2000 |
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Number of options granted |
5,324,884 |
240,000 |
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Number of options outstanding |
1,743,489 |
32,000 |
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Options granted to directors and officers |
720,000 |
60,000 |
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Total number of eligible employees |
850 |
34 |
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Exercise date |
50% of options may be exercised after a period of two years and four weeks from the date of grant of the options; 50% of options may be exercised as of the third anniversary of the date of grant of the options (subject to specific provisions contained in the Insider Trading Rules — see “Part 2/Governing Laws”). | |
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Expiry date |
8th July 2010 |
8th July 2010 |
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Conversion right |
One option for one share |
One option for one share |
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Vested |
100% |
100% |
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Exercise price |
€20.90 |
€20.90 |
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Exercise price conditions |
110% of fair market value of the shares at the date of grant |
110% of fair market value of the shares at the date of grant |
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Number of exercised options |
2,856,911 |
188,000 |
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Third tranche |
Fourth tranche |
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Date of shareholders’ Meeting |
10th May 2001 |
10th May 2001 |
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Date of Board of Directors Meeting (grant date) |
12th July 2001 |
9th August 2002 |
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Number of options granted |
8,524,250 |
7,276,700 |
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Number of options outstanding |
3,856,519 |
2,911,916 |
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Options granted to: |
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Mr. Philippe Camus |
135,000 |
135,000 |
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Mr. Rainer Hertrich |
135,000 |
135,000 |
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the 10 employees having being granted the highest number of options during the year 2001 (third tranche) and 2002 (fourth tranche) |
738,000 |
808,000 |
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Total number of eligible employees |
1,650 |
1,562 |
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Exercise date |
50% of options may be exercised after a period of two years and four weeks from the date of grant of the options; 50% of options may be exercised as of the third anniversary of the date of grant of the options (subject to specific provisions contained in the Insider Trading Rules — see “Part 2/Governing Laws”). | |
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Expiry date |
12th July 2011 |
8th August 2012 |
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Conversion right |
One option for one share |
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Vested |
100% |
100% |
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Exercise price |
€24.66 |
€16.96 |
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Exercise price conditions |
10% of fair market value of the shares at the date of grant | |
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Number of exercised options |
3,490,831 |
4,115,534 |
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Fifth tranche |
Sixth tranche |
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Date of shareholders’ Meeting |
6th May 2003 |
6th May 2003 |
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Date of Board of Directors Meeting (grant date) |
10th October 2003 |
8th October 2004 |
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Number of options granted |
7,563,980 |
7,777,280 |
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Number of options outstanding |
5,229,965 |
7,599,700 |
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Options granted to: |
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Mr. Philippe Camus |
135,000 |
135,000 |
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Mr. Rainer Hertrich |
135,000 |
135,000 |
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the 10 employees having being granted the highest number of options during the year 2003 (fifth tranche) and 2004 (sixth tranche) |
808,000 |
808,000 |
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Total number of eligible employees |
1,491 |
1,495 |
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Exercise date |
50% of options may be exercised after a period of two years and four weeks from the date of grant of the options; 50% of options may be exercised as of the third anniversary of the date of grant of the options (subject to specific provisions contained in the Insider Trading Rules — see “Part 2/Governing Laws”). As regards to the sixth tranche, part of the options granted to the top EADS Executives are performance related. | |
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Expiry date |
9th October 2013 |
7th October 2014 |
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Conversion right |
One option for one share |
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Vested |
100% |
50% |
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Exercise price |
€15.65 |
€24.32 |
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Exercice price conditions |
110% of fair market value of the shares at the date of grant | |
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Number of exercised options |
2,116,545 |
2,400 |
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Seventh tranche | |
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Date of shareholders’ Meeting |
11th May 2005 | |
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Date of Board of Directors Meeting |
9th December 2005 | |
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Number of options granted |
7,981,760 | |
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Number of options outstanding |
7,907,600 | |
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Options granted to: |
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Mr. Thomas Enders |
135,000 | |
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Mr. Noël Forgeard |
135,000 | |
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the 10 employees having being granted the highest number of options during the year 2005 (seventh tranche) |
940,000 | |
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Total number of eligible beneficiaries |
1,608 | |
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Exercise date |
50% of options may be exercised after a period of two years from the date of grant of the options; 50% of options may be exercised as of the third anniversary of the date of grant of the options (subject to specific provisions contained in the Insider Trading Rules — see “Part 2/Governing Laws”). As regards to the seventh tranche, part of the options franted to the top EADS Executives are performance related. | |
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Expiry date |
8th December 2015 | |
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Conversion right |
One option for one share | |
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Vested |
0% | |
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Exercise price |
€33.91 | |
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Exercice price conditions |
110% of fair market value of the shares at the date of grant | |
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Number of exercised options |
0 | |
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Eighth tranche | |
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Date of shareholders’ Meeting |
4th May 2006 | |
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Date of Board of Directors Meeting |
18th December 2006** | |
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Stock option plan | |
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Number of options granted |
1,747,500 | |
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Number of options outstanding |
1,747,500 | |
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Options granted to: |
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Mr. Thomas Enders* |
67,500 | |
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Mr. Louis Gallois* |
67,500 | |
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the 10 employees having being granted the highest number of options during the year 2006 (eighth tranche) |
425,000 | |
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Total number of eligible beneficiaries |
221 | |
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Date from which the options may be exercised |
50% of options may be exercised after a period of two years from the date of grant of the options; 50% of options may be exercised as of the third anniversary of the date of grant of the options (subject to specific provisions contained in the Insider Trading Rules — see “Part 2/Governing Laws”) | |
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Date of expiration |
16th December 2016 | |
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Conversion right |
One option for one share | |
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Vested |
0% | |
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Exercice price |
€25.65 | |
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Exercice price conditions |
110% of fair market value of the shares at the date of grant | |
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Number of exercised options |
0 | |
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Performance and restricted shares plan | |
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Performance shares |
Restricted shares |
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Number of shares granted |
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Shares granted to |
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Mr. Thomas Enders* |
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Mr. Louis Gallois* |
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the 10 employees having being granted the highest number of shares during the year 2006 (eighth tranche) |
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Total number of eligible beneficiaries |
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Vesting date |
The performance and restricted shares will vest if the participant is still employed by an EADS company and, in the case of performance shares, upon achievement of mid-term business performance. The vesting period will end at the date of publication of the 2009 annual results, expected in March 2010. | |
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(*) |
For more information in respect of options and shares granted to the Executive Directors, see “Notes to the Company Financial Statements — Note 11: Remuneration”. |
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(**) |
The eighth tranche was published to the employees up to 8th January 2007. |
The information in respect of stock options and performance and restricted shares cancelled and exercised during the year are set out in “Notes to the Consolidated Financial Statements (IFRS) — Note 31: Share-based Payment”.
For information on the transactions carried out by the members of the Board of Directors and the Executive Committee see EADS’s website and/or the relevant stock exchange authorities’ website.
