Business report > Remuneration Report
7. Summary of share and option plans 2013
In 2013 employees, management and the members of the Board of Directors participated in three different share plans. The plans are described for the management and the Board of Directors in this Remuneration Report and for the employees in → Note 18 of the consolidated financial statements. Under the three different share plans, the following numbers of shares were allocated.
| End of blocking period |
Number of participants |
Number of shares issued |
Issuing price CHF |
|
|---|---|---|---|---|
| Employee share program 2013 (ESPP) | 2015 | 1,563 | 21,353 | 138.72 |
| Management share program 2013 (MSPP) | 2016 | 41 | 8,968 | 231.20 |
| Board of Directors' program 2013 (DSPP) | 2017 | 7 | 4,724 | 138.72 |
| Total | 35,045 |
The 35,045 shares required for these plans were taken from the stock of treasury shares.
In 2013 Geberit management participated in two different option plans (MSPP and MSOP). The plans are described in this Remuneration Report. Under the two different option plans, the following numbers of options were allocated.
| End of vesting period | Maturity | Number of partici- pants |
Number of options allocated | Exercise price CHF |
|
|---|---|---|---|---|---|
| Management share program 2013 (MSPP) | 2014–2017 | 2020 | 41 | 8,968 | 231.20 |
| Option plan 2013 (MSOP)/Group Executive Board | 2015–2017 | 2020 | 5 | 45,628 | 231.20 |
| Option plan 2013 (MSOP)/other management | 2014–2017 | 2020 | 57 | 52,576 | 231.20 |
| Total | 107,172 |
The fair value of the options granted in 2013 amounted to CHF 24.34 at the respective granting date. The fair value was determined using the binomial model for “American Style Call Options”.
The calculation model was based on the following parameters:
| Exercise price 1 | Expected volatility | Expected Ø dividend yield | Contractual period | Riskfree interest rate | |
|---|---|---|---|---|---|
| CHF | % | % | Years | % | |
| Management share program 2013 (MSPP) | 231.20 | 17.139 | 3.47 | 7 | 0.463 |
| Option plan 2013 (MSOP) | 231.20 | 17.139 | 3.47 | 7 | 0.463 |
1 The exercise price corresponds to the average price of Geberit shares for the period from 2.–18.3.2013.
Costs resulting from participation plans amounted to CHF 2.6 million in 2013 (prior year 3.7 million), those for option plans totaled 2.6 million (prior year 2.3 million).