8. Summary of share and option plans 2023
This section has been audited by the external auditor as part of the Financial Notes to the Consolidated Statements of the Geberit Group.
In 2023, employees, management and the members of the Board of Directors participated in three different share plans. The plans for the Board of Directors and the management are described in this Remuneration Report and for the employees in Consolidated Financial Statements Geberit Group, Note 17. Under the three different share plans, a total of the following numbers of shares were allocated.
|
|
End of blocking period |
|
Number of participants |
|
Number of shares issued |
|
Issuing price CHF |
|---|---|---|---|---|---|---|---|---|
Employee share purchase plan (ESPP) |
|
2025 |
|
2,895 |
|
19,553 |
|
318.10 |
Management Share Participation Programme (MSPP) |
|
2026 |
|
102 |
|
11,400 |
|
489.40 |
Board of Directors remuneration |
|
2027 |
|
6 |
|
2,894 |
|
489.40 |
Total |
|
|
|
|
|
33,847 |
|
|
The 33,847 shares required for these plans were taken from the stock of treasury shares.
In 2023, Geberit management participated in two different option plans (MSPP and MSOP). The plans are described in this Remuneration Report.
|
|
Vesting period |
|
Maturity |
|
Number of participants |
|
Number of granted options 1 |
|
Exercise price CHF |
||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Management Share Participation Programme (MSPP) |
|
2023–2026 |
|
2033 |
|
102 |
|
22,800 |
|
504.45 |
||||
Management Stock Option Programme (MSOP) |
|
2023–2026 |
|
2033 |
|
173 |
|
166,185 |
|
504.45 |
||||
Total |
|
|
|
|
|
|
|
188,985 |
|
|
||||
|
||||||||||||||
The fair value of the options granted in 2023 as at March 2023 amounted to CHF 65.25 (MSPP) and CHF 65.25 (MSOP) on average at the respective granting date. The fair value was determined using the binomial model for “American Style Call Options”.
The calculation model was based on the following parameters:
|
|
Exercise price 2 |
|
Expected Ø volatility |
|
Expected Ø dividend yield |
|
Contractual period |
|
Risk-free Ø interest rate |
||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
|
CHF |
|
% |
|
% |
|
Years |
|
% |
||||
Management Share Participation Programme (MSPP) |
|
504.45 |
|
21.37 |
|
2.58 |
|
10 |
|
1.60 |
||||
Management Stock Option Programme (MSOP) |
|
504.45 |
|
21.37 |
|
2.58 |
|
10 |
|
1.60 |
||||
|
||||||||||||||
Costs resulting from share participation programmes amounted to CHF 3.5 million in 2023 (previous year CHF 6.1 million); those for option plans totalled CHF 8.2 million (previous year CHF 9.7 million).