113
The number and weighted average share price per share is as follows:
Weighted average
share price 2010
Number of share
rights 2010
Weighted average
Number of share
Outstanding as at 1 January
31.17
1,153,748
37.48
905,537
Granted during the year
33.44
571,994
21.90
615,945
Forfeited during the year
(102,510)
(74,813)
Vested during the year
(262,048)
(292,921)
Outstanding as at 31 December
30.70
1,361,184
31.17
1,153,748
The 262,048 (gross) shares vested in 2010 are related to the 2007 - 2009 LTIP of senior management. No vesting occurred under
the 2007 - 2009 LTIP of the Executive Board.
The fair value of services received in return for share rights granted is based on the fair value of shares granted, measured using the
Monte Carlo model, with following inputs:
Senior
Executive management
EUR Board 2009 2009
Fair value at grant date
512,359
8,478,659
Expected volatility
22.8%
22.8%
Fersonnel expenses
millions of EUR
2010
2009
Share rights granted in 2007
-
3
Share rights granted in 2008
3
3
J tare rights granted in 2009
5
4
tare rights granted in 2010
7
ital expense recognised as personnel expenses
15
10
11 the 2010 LTIP expense an amount of EUR0.5 million is included for some extraordinary grants that only have a service condition
id vest between 1 and 5 years. Total granted shares amount to 32,132 shares.
tineken N.V. Annual Report 2010
