Macintosh Retail Group NV has a share option plan in place for the Managing Board, and the boards and management of the group companies and the holding company. The objective is to increase their long-term commitment to the company.
Granting options falls under the remit of the Supervisory Board. The underlying idea is that the total number of options to be granted in any one year may not exceed 2% of the issued share capital. The granting itself follows on the day the full annual figures are published. The exercise price of options granted before and during 2011 was equal to the closing price of the Macintosh Retail Group NV share on the day prior to the publication of the annual results; the exercise price of options granted as from 2012 is equal to the average closing price on the three trading days prior to the publication of the annual results. The options have a term of 5 years and are not linked to performance criteria.
Neither the exercise price nor any other conditions relating to the options granted will be adjusted during the term of the options. The other conditions for the exercise of options are laid down in option rules that were established by the Supervisory Board in December 2011.