Macintosh has a share option plan for members of its Managing Board and the boards and management of the group companies and the holding company. The objective of the share option plan 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 actual granting takes place on the day the annual figures are published. The exercise price for options is equal to the average closing price of the share on the three trading days preceding the publication of the annual figures. The options expire after five years and are not linked to performance criteria. No adjustments are made to the exercise price or any other conditions during the life of the options.
Options may not be exercised for three years, and only if the option holder is still employed by Macintosh at that point in time. The other conditions are laid down in option rules that were established by the Supervisory Board in December 2011.