PARENT COMPANY >
FINANCIAL STATEMENTS AND EXPLANATORY NOTES
328
| 2012 annual report prysmian group
As at 31 December 2012 the options are all fully vested.
Following an amendment of the original plan, approved by the
Shareholders’ Meeting on 15 April 2010, the options can be
exercised in just one remaining 30-day period, running from the
date of the Board of Directors’ approval of the proposed annual
financial statements for 2012.
The incentive plan’s amendment has been accompanied by an
extension of the term for the Company’s capital increase in
relation to this plan, with a consequent revision of art. 6 of its
by-laws.
The new terms of exercise have not resulted in substantial
changes in the fair value of unexercised options and so have
not had any impact on the income statement.
The fair value of the original stock option plan was measured
using the Black-Scholes method. Under this model, the options
had a grant date weighted average fair value of Euro 5.78,
determined on the basis of the following assumptions:
As at 31 December 2012, the options have an average remaining life of approximately 3 months.
Average life of options (years)
3.63
Expected volatility
40%
Average risk-free interest rate
3.78%
Expected dividend yield
0%
