Integrated Annual Report 2015
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7. Summary of share and option plans 2015

This section has been audited as part of the Financial Notes to the Consolidated Statements of Geberit Group.

In 2015 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 17 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
1
Employee share purchase plan 2015 (ESPP) 2017 2,077 17,928 192.03
Management share purchase plan 2015 (MSPP) 2018 74 12,616 349.15
Directors program 2015 (DSPP) 2019 5 2,610 349.15
Total     33,154  

The 33,154 shares required for these plans were taken from the stock of treasury shares.

In 2015 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
participants
Number of
options
allocated
Exercise
price CHF
Management share purchase plan 2015 (MSPP) 2016–2019 2022 74 12,616 349.15
Option plan 2015 (MSOP) /
Group Executive Board
2017–2019 2022 5 44,871 349.15
Option plan 2015 (MSOP) /
Other management
2016–2019 2022 62 40,260 349.15
Total       97,747  

The fair value of the options granted in 2015 amounted to CHF 34.06 and CHF 33.48 (MSOP Group Executive Board) at the respective grant 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
Ø volatility
Expected Ø
dividend yield
Contractual
period
Risk ­free Ø
interest rate
  CHF % % Years %
Management share purchase plan 2015 (MSPP) 349.15 15.95 2.65 7 -0.35
Option plan 2015 (MSOP) 349.15 15.95 2.65 7 -0.35

1 The exercise price corresponds to the average price of Geberit shares for the period from 3.-16.3.2015.

 

Costs resulting from participation plans amounted to CHF 3.0 million in 2015 (prior year CHF 2.9 million), those for option plans totalled CHF 3.0 million (prior year CHF 2.5 million).