Chapters
Annual Report 2019

Long-term incentive plan (LTIP) awards

As part of the long-term incentive plan award LTIP 2015 in the Remuneration Policy 2019, the CEO has been awarded 42,284 performance-based conditional share awards. The CFO has been awarded 18,137 performance-based conditional share awards. The LTIP 2015 shares awards are subject to the performance conditions (total net revenue and earnings per share) as stated in the Remuneration Policy 2019.

The table below shows outstanding share-based awards for the Management Board. No share-based awards were settled in 2019:

Outstanding share-based awards

Award

Awards at
1 January 2019

Granted in 2019

Awards at
31 December 2019

Exercise price option awards

Fair value
at grant

Stephan Borchert (CEO)

GrandVision NV - LTIP 2018

performance based conditional share awards

56,481

-

56,481

-

20.80

GrandVision NV - LTIP 2018

share settled share appreciation rights

64,057

-

64,057

20.61

3.32

GrandVision NV - LTIP 2019

performance based conditional share awards

-

42,284

42,284

-

19.30

Willem Eelman (CFO)

GrandVision NV - LTIP 2019

performance based conditional share awards

-

18,137

18,137

-

19.30

Total

120,538

60,421

180,959

The table below shows outstanding share-based awards for the former members of the Management Board. No new share-based awards were granted in 2019:

Outstanding share-based awards

Award

Awards at
1 January 2019

Settled in 2019

Forfeited in 2019

Awards at
31 December 2019

Exercise price option awards

Fair value
at grant

Share price at vesting

Paulo de Castro (former CFO)

GrandVision NV - LTIP 2016

performance based conditional share awards

10,580

- 7,935

- 2,645

-

-

23.32

19.00

GrandVision NV - LTIP 2017

performance based conditional share awards

11,530

-

- 11,530

-

-

23.50

-

GrandVision NV - LTIP 2017

share settled share appreciation rights

51,903

-

- 51,903

-

25.43

3.20

-

GrandVision NV - LTIP 2018

performance based conditional share awards

6,391

-

- 6,391

-

-

20.80

-

GrandVision NV - LTIP 2018

share settled share appreciation rights

64,057

-

- 64,057

-

20.61

3.32

-

Total

144,461

- 7,935

- 136,526

-

The table below shows key terms of the outstanding share-based awards:

Outstanding share-based awards

Award

Status at 31 December 2019

Vesting year

Holding
period end

Performance conditions

GrandVision NV - LTIP 2018

performance based conditional share awards

Conditional

2021

2023

0-150% on Rev/EPS 2018-2020

GrandVision NV - LTIP 2018

share settled share appreciation rights

Unconditional

2023

-

No

GrandVision NV - LTIP 2019

performance based conditional share awards

Conditional

2022

2024

0-150% on Rev/EPS 2019-2021