Overview
Report of the
Executive Board
Report of the
Supervisory Board
Financial statements
Other information
No vesting occurred under the 2009-2011 LTV of the Executive Board. A total of 615,967 (gross) shares vested under the 2009-2011 LTV of
senior management.
Based on internal performance, it is expected that approximately 328,346 shares of the 2010-2012 LTV will vest in 2013 for senior management
and Executive Board.
The number - as corrected for the expected performance for the various awards - and weighted average share price per share under the LTV
of senior management and Executive Board are as follows:
Weighted average
share price 2012
Number of share
rights 2012
Weighted average
Number of share
Outstanding as at 1 January
29.14
1,546,514
30.11
1,575,880
Granted during the year
35.77
770,128
36.69
795,162
Forfeited during the year
35.44
(99,391)
31.73
(119,856)
Vested during the year
21.90
(615,967)
44.22
(234,485)
Performance adjustment
-
(243,458)
(470,187)
Outstanding as at 31 December
35.42
1,357,826
29.14
1,546,514
Under the extraordinary share plans 16,700 shares were granted and 2,192 (gross) shares vested. These extraordinary grants only have a service
condition and vest between 1 and 5 years. The expenses relating to these expected additional grants are recognised in profit or loss during the
vesting period. Expenses recognised in 2012 are EUR1.1 million (2011: EUR0.4 million).
Personnel expenses
Note
2012
Share rights granted in 2009
-
5
Share rights granted in 2010
5
1
Share rights granted in 2011
2
5
Share rights granted in 2012
5
Total expense recognised as personnel expenses
10
12
11
Heineken N.V. Annual Report 2012
123