Annual Report - EDP

notes to the EDP consolidated - Energias de Portugal, and company S.A. financial statementsNotes to for the the Consolidated years ended and Company 31 december Financial Statements 2012 and 2011for the years ended 31 December 2012 and 201145. SHARE BASED PAYMENTSEDP implemented a stock option program applicable to senior management and directors, under the terms approved by the General Meeting, in order to promote theacreation of value added.EDP Group has the following three stock option plans: i) Plan for the members of the Board of Directors approved in 1999, in which options can be granted for up to2,450,000 ordinary shares, ii) Plan for the Members of the Board of Directors and Management of the Group subsidiaries, in which options can be granted for up to16,250,000 ordinary shares, iii) Plan for the President of the Board of Directors, Chief Executive Officer and Executive Members for the 2003/2005 period in which theoptions granted can be exercised up to 1/3 in each of the following three years following the grant date. Options not exercised expire eight years after being granted.The exercise price of the options is calculated based on the market price of the company’s shares at the grant date. The options maximum term is seven years for thefirst two plans and eight years for the third plan.The options are granted by the EDP Group’s Remunerations Committe and can only be exercised after two years of service.The movements in the stock option plans are analysed as follows:Option activityBalance as at 31 December 2010 605,477Options exercised -Options granted -Balance as at 31 December 2011 605,477Options exercised -Options granted -Options expired 38,276Balance as at 31 December 2012 567,201Weighted average exerciseprice (Euros)2.222.222.21Information regarding stock options as at 31 December 2012, is analysed as follows:46. RELATED PARTIESWeightedOptionsoutstandingWeightedaverageexercise priceaverageremainingcontractual lifeOptionsexercisableFair valueoptions567,201 2.21 1.05 567,201 391,615During 2012 no stock options cost was recognised as the past service cost of granted options was recognised in prior years.During 2012, EDP Group granted treasury stocks to employees (941,383 shares) totalling 2,051 thousands of Euros.Main shareholders and shares held by company officersEDP - Energias de Portugal S.A. shareholder structure as at 31 December 2012 is analysed as follows:Nr. of Shares % Capital % VotingChina Three Gorges 780,633,782 21.35% 21.35%Iberdrola - Participações, SGPS, S.A. 248,437,516 6.79% 6.79%Liberbank Group (ex-Caja de Ahorros de Asturias Group) 183,257,513 5.01% 5.01%José de Mello - SGPS, S.A. 168,037,578 4.60% 4.60%Parpública Group 151,517,000 4.14% 4.14%Senfora, SARL 148,431,999 4.06% 4.06%Millennium BCP Group and Pension Fund 122,667,974 3.35% 3.35%Banco Espírito Santo Group 86,865,254 2.38% 2.38%Sonatrach 87,007,443 2.38% 2.38%Qatar Holding LLC 82,868,933 2.27% 2.27%BlackRock, Inc. 73,268,245 2.00% 2.00%EDP Group (Treasury stock) 31,904,523 0.87%Remaining shareholders 1,491,639,955 40.80%3,656,537,715 100.00%EDP - Annual Report 2012241