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9
FINANCIAL AND ACCOUNTING INFORMATION
3. Compagnie de Saint-Gobain annual financial statements (parent company)
272
SAINT-GOBAIN
- REGISTRATION DOCUMENT 2016
Significant events
10.3
stock and shareholders’ equity were as follows:
The principal events that contributed to changes in capital
deducting the issue costs, net of tax, from the premium);
amounted to €136,915 thousand (€136,161 thousand after
Savings Plan at a price of €29.42
. The issue proceeds
subscription of 4,653,810 shares under the Group
the May 2016 increase in capital stock through the
(representing approximately 5.3% of the share capital);
bookbuilding process concerning 30 million shares
Saint-Gobain to Wendel as part of Wendel’s accelerated
bought back on May 3, 2016 by Compagnie de
amount of €422,343 thousand, of which 10 million shares
cancellation of 10,984,088 shares
for a gross and net
the capital reduction of May 30, 2016 through the
proceeds amounted to €12,380 thousand.
exercise of stock options. Gross as well as net issue
433,292 shares at an average price of €27.57
, upon
16,790 shares at an average price of €25.88, and
finally, in March and December, were respectively issued
These various transactions had the effect of decreasing
€248,885 thousand.
€2,265 thousand and
additional paid-in capital
by
capital stock
by €22,653 thousand, the
legal reserve
by
year were as follows.
Changes in
unappropriated retained earnings
during the
Changes pursuant to 3rd resolution of the AGM of June 2, 2016 (appropriation of income)
(in EUR thousand)
AT DECEMBER 31, 2015 (BEFORE APPROPRIATION OF 2015 NET INCOME)
4,703,496
Net income for 2015
1,070,854
Less: final dividend taking into account the actual number of treasury shares held
(680,584)
AT DECEMBER 31, 2016 (BEFORE APPROPRIATION OF 2016 NET INCOME)
5,093,766
Stock option plans
10.4
to certain employees.
Compagnie de Saint-Gobain has stock option plans available
preceding the date of the decision by the Board of Directors.
The Board of Directors grants options allowing beneficiaries
Saint-Gobain share over the 20 stock market trading days
by reference to the average of the opening prices for the
to obtain Saint-Gobain shares at a price set, at no discount,
ten years of the grant date. Except in specified
received may be exercised. Options must be exercised within
years vesting period. During this period, none of the options
For all of the plans, options may only be exercised after four
Group.
circumstances, grantees forfeit these options if they leave the
decision considered as subscription options.
exercise period, with any options exercised prior to such
purchase) at the latest on the day before the start of the
that it would determine the type of option (subscription or
between 2013 and 2016, the Board of Directors has decided
2007 to 2012 offer subscription options. For plans launched
Among the plans outstanding at December 31, 2016, plans
all grantees in plans awarded since 2009.
for certain grantees only. A performance condition applies for
Up to 2008, options were subject to a performance condition
option granted.
employed by French companies in the Group is €4.21 per
calculate the 30% contribution sociale tax due for grantees
For options granted under the 2016 plan, the value used to
Changes in the number of outstanding options are as follows:
€4 par value shares
Average exercise price
(in EUR)
OPTIONS OUTSTANDING AT DECEMBER 31, 2014
16,182,839
46.04
Options granted
224,950
39.47
Options exercised
(801,840)
35.21
Options forfeited
(4,004,092)
40.18
Options outstanding at December 31, 2015
11,601,857
48.69
Options granted
280,000
40.43
Options exercised
(450,082)
27.50
Options forfeited *
(4,509,448)
51.40
OPTIONS OUTSTANDING AT DECEMBER 31, 2016
6,922,327
47.97
stock option plan which lapsed because the related performance condition was only partly met.
Including 4,306,454 options under the 2006 stock option plan that had not been exercised upon expiry of the plan and 202,994 options granted under the 2012
*