Stock options & treasury shares

Stock options plans

Managing cover of the stock option plan

In December 1999, the company introduced an annual stock option program for Group executives worldwide. This program is covered by own shares purchased by the Solvay group.
On 1 July 2013, through its subsidiary Solvay Stock Option Management SPRL, Solvay entrusted discretionary management of stock option plan cover to an independent banking institution.
Voting and dividend rights attached to these shares are suspended as long as they are held by the company.

Stock Options 2015

At December 31, 2015, Solvay Stock Option Management SPRL’s holdings of Solvay SA shares represented 1.989% (2,105,905 shares) of the Company capital.

In 2015, stock options representing a total of 563,540 shares were exercised (it should be noted that options are in principle exercisable over a period of fi ve years after being frozen for three years).

The stock options exercised break down as follows:
  • 2005 stock option plan: 16,940 shares;
  • 2006 stock option plan: 18,200 shares;
  • 2007 stock option plan: 96,250 shares;
  • 2008 stock option plan: 33,250 shares;
  • 2009 stock option plan: 40,400 shares;
  • 2010 stock option plan: 88,800 shares;
  • 2011 stock option plan: 269,700 shares.

Voting and dividend rights attached to these shares are suspended as long as they are held by the Company.

Finally it should be mentioned that, under the tender offer by Solvay SA for the shares of Rhodia, liquidity agreements were concluded with employees receiving free shares or options on Rhodia shares to enable these beneficiaries to retain their rights and to sell their Rhodia shares during a specified period after the close of the tender offer. The free shares exposure is fully covered.

Treasury share investment program

Following the sale of its Pharmaceuticals activities, Solvay launched a treasury share investment program.
Investments in Solvay treasury shares over the period March to July 2010, authorized as per resolution of the Extraordinary Shareholders’ Meeting of May 12, 2009, were as followed:

July 26, 2010from 19/07/2010 to 23/07/2010880,766ENFRNL
July 19, 2010from 12/07/2010 to 16/07/2010830,410ENFRNL
July 13, 2010from 05/07/2010 to 09/07/2010811,506ENFRNL
July 5, 2010from 28/06/2010 to 02/07/2010721,768ENFRNL
June 14, 2010from 07/06/2010 to 11/06/2010641,609ENFRNL
May 31, 2010from 24/05/2010 to 28/05/2010602,544ENFRNL
May 25, 2010from 17/05/2010 to 21/05/2010489,863ENFRNL
May 17, 2010from 10/05/2010 to 14/05/2010207,203ENFRNL
May 10, 2010from 03/05/2010 to 07/05/2010143,203ENFRNL
March 1, 2010from 22/02/2010 to 26/02/201054,830ENFRNL

Given the success of the tender offer for Rhodia, the 880,766 shares held by Solvay SA, as temporary partial redeployment of the cash from the sale of the Pharmaceuticals activities, were transferred to the Solvay Stock Option Management SPRL in order to cover the stock options program, see Third Quarter Results 2011, page 17 (October 27).