Distribution of TotalFinaElf stock options
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Number of recipients |
Number of options granted |
Distribution |
Average number of options per recipient |
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| 1994 Plan(1) |
Top Executives (4) |
15 |
159,000 |
19.9 % |
10,600 |
| Option to subscribe |
Officers |
132 |
281,600 |
35.2 % |
2,133 |
| (decided by the Board of Directors on September 6, 1994 ; strike : FRF 286 ; discount : 9.79%) |
Other Employees |
563 |
359,400 |
44.9 % |
638 |
| Total |
710 |
800,000 |
100 % |
1,127 |
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| 1995 Plan (1) |
Top Executives (4) |
14 |
166,000 |
17.5 % |
11,857 |
| Option to subscribe |
Officers |
138 |
344,700 |
36.4 % |
2,498 |
| (decided by the Board of Directors on September 5, 1995 ; strike : FRF 291 ; discount : 4.7%) |
Other Employees |
584 |
435,800 |
46.0 % |
746 |
| Total |
736 |
946,500 |
100 % |
1,286 |
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| 1996 Plan (1) |
Top Executives (4) |
14 |
154,000 |
16.0 % |
11,000 |
| Option to subscribe |
Officers |
138 |
359,400 |
37.4 % |
2,604 |
| (decided by the Board of Directors on December 11, 1995 ; strike : FRF 392 ; discount : 5%) |
Other Employees |
650 |
446,600 |
46.5 % |
687 |
| Total |
802 |
960,000 |
100 % |
1,197 |
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| 1998 Plan (2) |
Top Executives (4) |
16 |
157,500 |
16.5 % |
9,844 |
| Option to purchase |
Officers |
162 |
347,600 |
36.4 % |
2,146 |
| (decided by the Board of Directors on March 17, 1998 ; strike : FRF 615 ; discount : 4.94%) |
Other Employees |
824 |
449,900 |
47.1 % |
546 |
| Total |
1,002 |
955,000 |
100 % |
953 |
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| 1999 Plan (2) |
Top Executives (4) |
19 |
279,000 |
18.6 % |
14,684 |
| Option to purchase |
Officers |
215 |
517,000 |
34.5 % |
2,405 |
| (decided by the Board of Directors on June 15, 1999 ; strike : EUR 113 ; discount : 4.74%) |
Other Employees |
1,351 |
703,767 |
46.9 % |
521 |
| Total |
1,585 |
1,499,767 |
100 % |
946 |
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| 2000 Plan(3) (5) |
Top Executives (4) |
24 |
246,200 |
10.1 % |
10,258 |
| Option to purchase |
Officers |
298 |
660,700 |
27.2 % |
2,217 |
| (decided by the Board of Directors on July 11, 2000 ; strike : EUR 162.70 ; discount : 0.0%) |
Other Employees |
2,740 |
1,518,745 |
62.6 % |
554 |
| Total |
3,062 |
2,425,645 |
100 % |
792 |
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(1) The Vesting Schedule is equal to 3 years while the duration of the option is 6 years.
(2) The Vesting Schedule is equal to 5 years while the duration of the option is 8 years.
(3) The Vesting Schedule is equal to 4 years plus one year during which shares cannot be sold. The duration of the option is 8 years.
(4) Management Committee and Treasurer as defined as of the date of the Board of Directors which decided to grant options.
(5) Certain employees of Elf Aquitaine in 1998 received confirmation in 2000 of Elf Aquitaine options allocated in 1998 subject to the realization of performance objectives by the Elf Aquitaine group between 1998 and 2002 (see below).
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Elf Aquitaine stock options granted to employees of the Group
Certain employees of the Group, having been part of the Elf Aquitaine group in 1998, received confirmation in 2000 of share subscription options attributed on April 1, 1998 pursuant to a Medium Term Incentive plan (MTI)(1), due to the results of Elf Aquitaine in 1999. In accordance with the undertakings made by the Group during the 1999 Exchange Offer (information memorandum bearing COB visa no 99-1179), these Elf Aquitaine options, in the event of exercise, are entitled to be exchanged for TotalFinaElf shares at the exchange ratio of 19 TotalFinaElf shares for 13 Elf Aquitaine shares (see Note 25 to the Consolidated Financial Statements).
The beneficiaries of these Elf Aquitaine options, who were also employees of the Group on the date the Board of Directors of TOTAL FINA ELF S.A. decided to grant options under the year 2000 TotalFinaElf plan (July 11, 2000) were in the following categories:
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(3) |
Number of recipients |
Number of Elf Aquitaine options granted |
Distribution |
Average number of options per recipient |
Corresponding number of TotalFinaElf shares (4) |
Corresponding number of TotalFinaElf shares per recipient(4) |
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MTI Plan
Options granted in
2000 connection
with 1999 targets(2)
(decided by Elf Aquitaine’s Board of Directors on April 1, 1998 ; strike : EUR 105.95)
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Top Executives
|
11 |
49,132 |
24.1 % |
4,467 |
71,808 |
6,528 |
Officers
|
141 |
143,258 |
70.2 % |
1,016 |
209,377 |
1,485 |
Other Employees
|
17 |
11,574 |
5.7 % |
681 |
16,916 |
995 |
| Total |
169 |
203,964 |
100 % |
1,207 |
298,101 |
1,764 |
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(1) Plan approved by the Board of Directors of Elf Aquitaine on April 1, 1998 subject to the fulfilment of performance objectives by the Elf Aquitaine group for the 1998, 1999, 2000, 2001 and 2002 fiscal years. The options are exercisable from April 1, 2000 and expire March 31, 2005.
(2) Grants confirmed by the Board of Directors of Elf Aquitaine on February 2, 2000.
(3) Positions held within the Group on July 11, 2000, date on which the Board of Directors of TOTAL FINA ELF S.A. approved the year 2000 TotalFinaElf stock option plan.
(4) Assumes the maximum number of shares are exchanged (19 TotalFinaElf shares for 13 Elf Aquitaine shares).
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