In 2016, at the proposal of the Compensation Committee, the Board of Directors allotted stock options to some 70 Group senior executives. The exercise price amounts to € 75.98 per option, with a three-year vesting period. Executive Committee members were granted a total of 208,260 options in March 2016 (acquisition award included) compared with 93,068 options in 2015(1)Stock options: Black Scholes fair value for 2015 grant was at € 26.09 vs € 17.07 for 2016 grant.

In combination with the stock option plan, the Board of Directors granted performance share units to around 450 Group executives, for a possible payout in three years’ time if pre-set economic performance objectives (underlying EBITDA and CFROI) are met. Executive Committee members were granted a total of 23,425 PSU in March 2016 compared with 17,264 PSU in 2015(2)PSU’s share price for 2015 grant was at € 124.90 vs € 77.91 for 2016 grant.

(1) Stock options: Black Scholes fair value for 2015 grant was at € 26.09 vs € 17.07 for 2016 grant

(2) PSU’s share price for 2015 grant was at € 124.90 vs € 77.91 for 2016 grant

Country

 

Name

 

Function

 

Number of options(1)

 

Number of PSU

(1)

Exceptional award included

Belgium

 

Clamadieu, Jean‑Pierre

 

Chairman of the Executive Committee

 

83,479

 

10,589

Belgium

 

De Cuyper, Vincent

 

Member of the Executive Committee

 

20,211

 

3,209

Belgium

 

Kearns, Roger

 

Member of the Executive Committee

 

49,502

 

3,209

Belgium

 

Hajjar, Karim

 

Member of the Executive Committee

 

34,857

 

3,209

Belgium

 

Juéry, Pascal

 

Member of the Executive Committee

 

20,211

 

3,209

TOTAL

 

 

 

 

 

208,260

 

23,425

Stock Options held in 2016 by Executive Committee members

Country

 

Name

 

Stock-options

 

31.12.2016

   

Held at 31.12.2015

 

Granted in 2016

 

Exercised in 2016

 

Expired in 2015

 

Held

 

Exercisable

 

Non exercisable

Belgium

 

Clamadieu, Jean‑Pierre

 

170,346

 

83,479

 

0

 

0

 

253,825

 

65,188

 

188,637

Belgium

 

De Cuyper, Vincent

 

64,816

 

20,211

 

0

 

0

 

85,027

 

31,175

 

53,852

Belgium

 

Kearns, Roger

 

94,289

 

49,502

 

0

 

0

 

143,791

 

60,648

 

83,143

Belgium

 

Hajjar, Karim

 

21,164

 

34,857

 

0

 

0

 

56,021

 

0

 

56,021

Belgium

 

Juéry, Pascal

 

49,601

 

20,211

 

0

 

0

 

69,812

 

15,960

 

53,852

TOTAL

 

 

 

400,216

 

208,260

 

 

 

 

 

608,476

 

172,971

 

435,505