In accordance with the requirements of IFRS 2 “Share-based Payment”, the value of options or free shares granted as calculated at the grant date is expensed in the income statement over the vesting period, which is generally five years for purchase options and four years for free shares.
The fair value of free shares corresponds to the value of the share at the grant date, less dividends expected to be paid during the vesting period.
The cost of the additional 2-year holding period applicable to French residents, for plans prior to 1 January 2016, is determined based on the interest rate granted to the employee, considered equivalent to the rate which would be granted by a bank to a private individual customer with an average financial profile.
The impact of IFRS 2 on profit for the period is booked on the Selling, general and administrative expenses item of the income statement at Group level, and is not allocated to the Divisions or geographic zones.
There is no option plans in force at 31 December 2021.
Data concerning all share option plans during financial years 2021, 2020 and 2019 are set out below:
| 31.12.2021 | 31.12.2020 | 31.12.2019 | ||||
|---|---|---|---|---|---|---|
| Number of options | Weighted average exercise price | Number of options | Weighted average exercise price | Number of options | Weighted average exercise price | |
| Number of options not exercised at beginning of period | 57,397 | €83.19 | 524,193 | €81.91 | 1,313,801 | €78.60 |
| Options granted | - | - | - | |||
| Options exercised | - 52,397 | €83.19 | - 465,796 | €81.76 | - 785,408 | €76.43 |
| Options expired | - 5,000 | - 1,000 | - 4,200 | |||
| Number of options not exercised at end of period | - | €- | 57,397 | €83.19 | 524,193 | €81.91 |
| Of which: | ||||||
| number of exercisable options at end of period | - | €- | 57,397 | €83.19 | 524,193 | €81.91 |
| expired options at end of period | - | - | - | |||
| Weighted average share price | €364.74 | €273.24 | €240.28 | |||
The table below summarizes the data on free share plans vesting after 1 January 2019.
| Grant date | ||||
|---|---|---|---|---|
| Stock subscription plans | Vesting date | Number of shares granted | Number of shares issued/allotted | Number of shares not finally vested |
| 22.04.2015 |
22.04.2015
23.04.2019 |
22.04.2015
860,150 |
22.04.2015
706,937 |
22.04.2015
- |
| 20.04.2016 |
20.04.2016
21.04.2020 |
20.04.2016
906,100 |
20.04.2016
835,725 |
20.04.2016
- |
| 20.04.2017 |
20.04.2017
21.04.2021 |
20.04.2017
906,000 |
20.04.2017
742,276 |
20.04.2017
- |
| 17.04.2018 |
17.04.2018
18.04.2022 |
17.04.2018
931,000 |
17.04.2018
350 |
17.04.2018
885,625 |
| 18.04.2019 |
18.04.2019
19.04.2023 |
18.04.2019
843,075 |
18.04.2019
200 |
18.04.2019
823,900 |
| 14.10.2020 |
14.10.2020
15.10.2024 |
14.10.2020
713,660 |
14.10.2020
200 |
14.10.2020
712,515 |
| 07.10.2021 |
07.10.2021
08.10.2025 |
07.10.2021
588,750 |
07.10.2021
- |
07.10.2021
588,750 |
For the conditional grant of shares, the plan provides for a four-year vesting period after which vesting is effective and final, subject to meeting the conditions of the plan. After this vesting period, a two-year mandatory holding period applies for French residents, for plans prior to 1 January 2016, during which the shares cannot be sold.
The performance conditions apply to the 7 October 2021,14 October 2020, 18 April 2019 and 17 April 2018 plans:
and will use a predefined allocation scale based on the performance percentage achieved. No performance condition applies below a block of 200 shares.
