Notes to the Consolidated Financial Statements continued - - Reportofthe Reportofthe 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 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 Share rights granted to Executive Board in 2015 54,903 58.95 Share rights granted to senior management in 2015 534,298 58.95 The number of shares is based on at target payout performance (100 percent). Under the LTV 2012-2014, a total of 87,438 (gross) shares vested for the Executive Board and 796,904 (gross) shares vested for senior management. Based on the performance conditions, it is expected that approximately 765,841 shares of the LTV 2013-2015 will vest in 2016 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 Number of average share share rights average share share rights price 2015 2015 Outstanding as at 1 January 44.42 2,401,418 42.41 1,257,106 Granted during the year 58.95 589,201 49.08 649,446 Forfeited during the year 50.95 (235,289) 44.80 (112,593) Vested during the year 35.89 (891,409) 36.69 (216,229) Performance adjustment (9,139) 823,688 Outstanding as at 31 December 52.26 1,854,782 44.42 2,401,418 Under the extraordinary share plans for senior management 16,000 shares were granted and 40,425 (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 2015 are EUR1.0 million (2014: EUR1.2 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 2015 Share rights granted in 2012 1 20 Share rights granted in 2013 12 17 Share rights granted in 2014 10 11 Share rights granted in 2015 10 Total expense recognised in personnel expenses 10 33 48 113 Heineken N.V. Annual Report 2015

Jaarverslagen en Personeelsbladen Heineken

Jaarverslagen | 2015 | | pagina 114