- - - Report of the Report of the Financial Other Contents Overview Executive Board Supervisory Board statements information The terms and conditions of the share rights granted are as follows: Grant date/employees entitled Number* Based on share price Share rights granted to Executive Board in 2012 66,746 35.77 Share rights granted to senior management in 2012 703,382 35.77 Share rights granted to Executive Board in 2013 50,278 50.47 Share rights granted to senior management in 2013 560,863 50.47 Share rights granted to Executive Board in 2014 51,702 49.08 Share rights granted to senior management in 2014 597,744 49.08 *The number of shares is based on at target payout performance (100 per cent). Under the LTV 2011 -2013, a total of 24,403 (gross) shares vested for the Executive Board and 191,827 (gross) shares vested for senior management. Based on the performance conditions, it is expected that approximately 916,724 shares of the LTV 2012-2014 will vest in 2015 for senior management and the 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 Number of Weighted average share share rights average share price 2014 2014 Outstanding asatl January 42.41 1,257,106 35.42 1,357,826 Granted during the year 49.08 649,446 50.47 611,141 Forfeited during the year 44.80 (112,593) 40.52 (120,014) Vested during the year 36.69 (216,229) 33.27 (331,768) Performance adjustment 823,688 (260,079) Outstanding as at 31 December 44.42 2,401,418 42.41 1,257,106 Under the extraordinary share plans for senior management, 17,800 shares were granted and 46,996 (gross) shares vested. These extraordinary grants only have a service condition and vest between one and five years. The expenses relating to these additional grants are recognised in profit or loss during the vesting period. Expenses recognised in 2014 are EUR1.2 million (2013: EUR1.1 million). Matching shares, extraordinary shares and retention share awards are granted to the Executive Board and are disclosed in note 35. Personnel expenses In millions of EUR Note 2014 2013 Share rights granted in 2011 (3) Share rights granted in 2012 20 5 Share rights granted in 2013 17 8 Share rights granted in 2014 11 Total expense recognised in personnel expenses 10 48 10 111 Heineken N.V. Annual Report 2014

Jaarverslagen en Personeelsbladen Heineken

Jaarverslagen | 2014 | | pagina 113