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CONSOLIDATED FINANCIAL STATEMENTS AND CONSOLIDATED MANAGEMENT REPORT 2015
22. SHARE-BASED PAYMENT PLAN
At December 31, 2015, as described below, the Group has one valid share option plans which it has granted to certain
employees. It was approved in 2011.
The approved plan that remain in effect have a three-year accrual period and the given strike price, and, if applicable, is
exercised, where applicable, through the delivery of the shares.
The most relevant assumptions used in the measurement are as follows:
2010 Plan 2011 Plan
Strike
7.00
5.83
Yield on the share (dividend yield)
5.5%
5.5%
Volatility
50%
37%
There were no new share option plans in 2015 and 2014, and therefore, during 2015 and 2014, no amounts were
charged on the income statement related to these plans (Note 24.2).
The beneficiaries of these plans are directors and executive directors of Group companies.
These share-based payment schemes in 2015 are shown in the following table:
Number of
options
Strike
price
Assignment
date
From
To
Options granted
1,297,650
7.00
2010 07/28/2013 07/27/2015
Options canceled
(93,000)
7.00
2010
Options exercised
(1,204,650)
7.00
2010
2010 Plan
-
Options granted
673,225
5.83
2011 07/27/2014 07/26/2016
Options canceled
(57,000)
5.83
2011
Options exercised
(328,275)
2011 Plan
287,950
Total outstanding plans
287,950
These share-based payment schemes in 2014 are shown in the following table:
Number of
options
Strike
price
Assignment
date
From
To
Options granted
319,163
5.21
2009 07/29/2012 07/28/2014
Options canceled
(9,000)
5.21
2009
Options exercised
(310,163)
5.21
2009
2009 Plan
-
Options granted
1,297,650
7.00
2010 07/28/2013 07/27/2015
Options canceled
(93,000)
7.00
2010
Options exercised
(646,150)
7.00
2010
2010 Plan
558,500
Options granted
673,225
5.83
2011 07/27/2014 07/26/2016
Options canceled
(57,000)
5.83
2011
Options exercised
(171,775)
2011 Plan
444,450
Total outstanding plans
1,002,950
The Group has treasury shares to comply with these commitments.