Financial Reporting - Rexel

The fair value of Rexel’s shares granted to key employees is based upon the stock price at the grant date.
The restrictions attached to the dividends until the delivery date of the shares to the beneficiaries are
computed as a reduction of the fair value.
Plans issued in 2009 and before
In 2009, 2008 and 2007, Rexel entered into several bonus share plans for its senior executives and key
employees for a total of 8,036,308 shares. Depending on local regulations, these employees and executives
will be eligible to receive Rexel shares, either after a period of two years from the grant dates, with a
restriction on their sale for an additional two year period, or after a period of four years from the grant date
with no subsequent restrictions on their sale.
The actual transfer of these free shares is subject to the service and performance conditions of the schemes.
Maximum number of shares granted initially ……………….
Shares cancelled…………………………………………………………….
Shares delivered…………………………………………………………….
"
Maximum number of shares allocated as of December 31, 2010 and "
not yet delivered……………………………………………………… "
Shares cancelled in 2011 ………………………………….…………………… "
Shares delivered in 2011 ………………………………………………………… "
"
Maximum number of shares allocated as of December 31, 2011 and "
not yet delivered………………………………………………………. "
Plans issued in
2009
"
"
"
"
Plans issued in
2008
Plans issued in
2007
1,372,166 1,607,961 5,056,181
(319,333) (1,080,455) (275,169)
- (147,763) (2,159,291)
1,052,833 379,743 2,621,721
(16,002) - (6,633)
(268,416) - (2,615,088)
768,415 379,743 -
Share fair value at the grant date…………………………………………. €6.42 €7.88 €16.5
The fair value of Rexel’s shares granted to key employees was based upon the stock price at the grant date.
The impact of restrictions attached to dividends relating to these shares for the period until their delivery to
beneficiaries has been deducted.
15.2 | Stock option plans
Plans issued by Rexel in 2005
On October 28, 2005, Rexel established a share option subscription program that entitles key management
personnel to purchase Rexel shares, on May 31, 2006 and October 4, 2006, further options were granted to
new management personnel. On November 30, 2005, a share option subscription arrangement was set up
for a broader circle of key employees of the Group with vesting conditions based on a four-year service
period or the occurrence of certain events including in particular admission of the Company’s shares to
trading on a regulated market. On May 31, 2006, this plan was extended to new entrants.
Options granted under these plans were vested in full upon the Initial Public Offering of Rexel shares in April
2007.
These options are exercisable by the beneficiaries at the fair value of the shares at the date of grant for a
period of 10 years from grant date. These plans are qualified as equity-settled transactions.
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