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Evolution of the number of stock options
Year of the plan
2015
2014 2013
2012
2011
2010 2009 2008 2007
2006
AT 01.01
3,000 3,320 4,095 8,035 5,740
7,215 6,730 7,300 8,000
Granted
7,625
Cancelled
-500
-1,067
-1,386
-250
-695
-2,125
-2,050 -2,350
Exercised
-533
-2,264
-2,000 -3,665
-350
-1,600
Expired
AT 31.12
7,625 3,000 2,820 2,495 4,385 3,490 2,855 4,255 5,250 4,050
Exercisable at 31.12
2,495
4,385
3,490
2,855
4,255
5,250
4,050
Strike price (in EUR)
95.03
88.75
88.12
84.85
97.45
93.45
86.06
122.92
143.66
129.27
Last exercise date 16.06.2025 16.06.2024 16.06.2023 18.06.2022
13.06.2020 11.06.2019 12.06.2023
1
12.06.2022
1
13.06.2021
1
Fair value of the
options at the
date of granting
(x 1,000 EUR)
233.94
102.99
164.64
168.18 363.90 255.43 372.44
353.12
261.27
216.36
Cofinimmo applies the IFRS 2 standard by recognising over the vesting period (namely three years) the fair value of the stock options at the date
of granting according to the progressive acquisition method. The annual cost of the progressive vesting is recognised under the item “Personnel
charges” on the income statement.
NOTE 45. AVERAGE NUMBER OF PEOPLE LINKED BY AN EMPLOYMENT CONTRACT OR
BY A PERMANENT SERVICE CONTRACT
2015
2014
Average number of people linked by an employment contract or by a permanent service contract
113
115
Employees
109
111
Executive management personnel
4
4
FULL-TIME EQUIVALENT
106
108
NOTE 46. RELATED-PARTY TRANSACTIONS
The emoluments and insurance premiums, borne by Cofinimmo
and its subsidiaries, for the benefit of the members of the Board of
Directors, charged to the income statement, amount to 2,158,116 EUR
of which 586,790 EUR is attributed to post-employment benefits.
The “Corporate Governance Statement” chapter of this Annual
Financial Report includes the composition of the various deci-
sion-making bodies and the tables on the remuneration of the
Non-Executive and Executive Directors. The difference between the
amount on the income statement and that stated in the tables is
explained by movements in provisions.
The Directors are not beneficiaries of the profit-sharing scheme,
which exclusively concerns the employees of the Group.
In 2015, Cofinimmo acquired, through its rheastone SA/NV subsidiary,
the SA/NV Terra 13 (see Note 4) which was previously owned by the
Senior Assist Group. Before its redemption, it held 5% of the SA/NV
Silverstone, and at 31.12.2015, holds 2.62% of the shares of Rheastone
SA/NV. For more details, see Note 43.
As a reminder, at the end of 2012, Cofinimmo signed a joint venture
with the entity Cofinéa I SAS, a company incorporated under French
Law. Cofinimmo owns 51% of its capital and the ORPEA Group 49%.
With the exception of its interest in Cofinéa I, Cofinimmo has no other
transactions with this joint venture. In addition, there were no trans-
actions in 2015 with the ORPEA Group. For more details, see Note 43.
There were no other transactions with other related parties.
NOTE 47. EVENTS AFTER THE CLOSING
The terms for terminating the contract of the client of the asset
management activity for third party have been decided in March 2016
and will take effect on 01.04.2016. No other major events occurred
after the closing date that could have a significant impact on the
figures at 31.12.2015.
The amount of the dividend proposed to shareholders at the Ordinary
General Meeting of 11.05.2016 is 105,729,988.72 EUR for the ordinary
shares and 4,368,851.76 EUR for the preference shares. For more
details, see Note 33.
1
In accordance with the “Loi de relance économique”/”Wet van de Economische Heropleving” of 27.03.2009, the exercise period of the stock option plans of 2006 to 2008 was
extended from 10 to 15 years.
208
ANNUAL ACCOUNTS /
Notes to the consolidated accounts