Stock options & treasury shares

Stock options plans

As every year since 1999, in 2017 the Board of Directors renewed the share option plan offered to executive staff (54 beneficiaries) with a view to involving them more closely in the long-term development of the Group. 

The plan is an equity-settled sharebased plan. The majority of the managers involved subscribed to the options offered to them in 2017 with an exercise price of
€111.27 representing the average stock market price of the share for the 30 days prior to the offer. The three-year vesting period is followed by a five-year exercise period, at the end of which any unexercised options expire. The settlement method is in equity.

At the end of December 2017, the Group held 2,557,895 treasury shares, which have been deducted from consolidated shareholders’ equity.

Performance Share Units Plan (PSU)

Since 2013, the Board of Directors renewed a yearly Performance Share Unit Plan, offered to executive staff with the objective of involving them more closely in the development of the Group, making this part of the long-term incentive policy. All the managers involved subscribed the PSU offered them in 2017 with a grant price of €114.70. The Performance Share Units Plan is a cash-settled share-based plan through which beneficiaries will obtain cash benefit based upon the Solvay share price, as well performance conditions. Each plan has a three-year vesting period, after which a cash settlement will take place, if vesting conditions are met.

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:

DatePeriodShares
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).