2018 Registration document and annual fi nancial report - BNP PARIBAS244
4 CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2018
4
Notes to the fi nancial statements
➤ STOCK SUBSCRIPTION OPTION PLANS
Characteristics of the plan Options outstanding
at end of period
Originating company Date of grant
Number of grantees
Number of options
granted Start date
of exercise period
Option expiry date
Adjusted exercise
price (in euros)
Number of options
Remaining period until expiry of
options (years)
BNP Paribas SA(1) 05/03/2010 1,820 2,423,700 05/03/2014 02/03/2018 51.20 - -
BNP Paribas SA(1) 04/03/2011 1,915 2,296,820 04/03/2015 04/03/2019 56.45 1,296,508 0.2
TOTAL OPTIONS OUTSTANDING AT END OF PERIOD 1,296,508
(1) The plan is subject to vesting conditions under which a proportion of the options granted to employees is conditional upon the performance of the BNP Paribas share relative to the Dow Jones EURO STOXX Banks index during the applicable holding period.
Based on this relative performance condition, the adjusted exercise price for these options has been set at EUR 67.74 instead of EUR 56.45 for 207,128 options under the 4 March 2011 plan, outstanding at the year-end.
Year to 31 Dec. 2018 Year to 31 Dec. 2017
Number of options
Weighted average exercise price
(in euros) Number of options
Weighted average exercise price
(in euros)
OPTIONS OUTSTANDING AT 1 JANUARY 2,277,443 55.61 4,176,666 51.98
Options exercised during the period (939,175) 52.07 (1,856,733) 47.64
Options expired during the period (41,760) (42,490)
OPTIONS OUTSTANDING AT 31 DECEMBER 1,296,508 58.25 2,277,443 55.61
OPTIONS EXERCISABLE AT 31 DECEMBER 1,296,508 58.25 2,277,443 55.61
The average quoted stock market price in 2018 is EUR 64.89 (EUR 62.82 in 2017).
Expense of share-based payment
➤ PERFORMANCE SHARE PLANS
At 31 December 2018, 311 BNP Paribas SA shares granted via performance share plans from 2009 to 2012 were not yet delivered to their benefi ciaries.
Movements over the past two years
Expense/(revenue) in millions of euros Year to 31 Dec. 2018 Year to 31 Dec. 2017
Prior deferred compensation plans (204) 82
Deferred compensation plans for the year 195 345
TOTAL (9) 427
