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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