Novartis tradable stock options
Participants in this plan can elect to receive their incentive in the form of shares, share options, or a combination of both. In some jurisdictions Restricted Share Units RSU rather than shares are granted.
Each RSU is equivalent in value to one Novartis share and is converted into one share at the vesting date. No awards are granted for performance ratings below a certain threshold. After the incentive has been awarded, its value goes up or down based on the Novartis share price performance.
Shares granted receive dividends and have voting rights during the vesting period. RSUs do not carry any dividend or voting rights. Share options are tradable when vested, and expire on their tenth anniversary. Shares and tradable share options have a vesting period of two years in Switzerland and three years in other countries. As a result, if a participant leaves Novartis, for reasons other than retirement, disability or death, unvested shares or options are forfeited, unless determined otherwise by the Compensation Committee for example, in connection with a reorganization or divestment.
No awards are granted for ratings below a certain threshold. These equity awards are made both in recognition of past peformance and as an incentive for future contributions by the participants. Participants in this plan can elect to receive their incentive in the form of shares, options, or a combination of both. Each option is tradable, expires on its tenth anniversary and is exercisable to receive one share 1: The exercise price equals the market price of the underlying share at the grant date.
Since the options are tradable they can be used to purchase the underlying Novartis share or they can be transferred to a market maker.
Shares and options have a vesting period of two years in Switzerland and three years in other countries. As a result, if a participant leaves Novartis, unvested shares or options are forfeited, unless determined otherwise by the Compensation Committee for example, in connection with a reorganization or divestment. If an associate receives a rating below a certain threshold, no awards are granted under the plan.
Each share option is tradable, expires on its tenth anniversary and is exercisable to receive one share 1: Awards under this plan may be granted each year based on the associates individual year-end performance rating, talent rating and Group or business area performance. Participants in this plan can elect to receive their incentive in form of shares, share options, or a combination of both. Each share option is tradable, expires on its tenth anniversary and is excercisable to receive one share 1: Participants in continuing operations for the Novartis equity plan "Select" were granted 1,, shares The Compensation Committee allocates the number of shares and share options based on the individual choice of the participant before the predetermined grant date.
The share options are tradable, expire at the tenth anniversary and are exercisable for one share each 1: The exercise price equals the market price of the underlying share at the predetermined grant date.
As a consequence, if a participant leaves Novartis, shares or options not yet vested are forfeited if not determined otherwise by the Compensation Committee e. Participants in the Novartis equity plan Select were granted 1 shares Under the plan called "Select" as adopted by the Board of Directors in , participants can elect to receive their equity awards in the form of restricted shares, tradable share options, or a combination thereof.
Participants in the Novartis equity plan Select were granted 1,, shares In , the Board of Directors adopted a modification to the Share Option Plans described below. Under the plan called "Select," participants have the choice to receive their equity award in the form of share options, or restricted shares. An exchange ratio of share options to shares is set by the Board. For , four share options could be exchanged for one share.
Shares granted have a restriction period identical to the vesting period of the share options.
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SELECT REST OF WORLD PLAN: Under the Plan, Non-Executive Directors through , executives and other selected employees of Group companies collectively, the "Participants" may receive equity awards. These equity awards are made both in recognition of past performance and as an incentive for future contributions by the Participants.
They allow the Participants to benefit as the price of the shares increases over time, and so provide a long-term incentive for improvements in our profitability and success. The share options are tradable; therefore they can be used to purchase the underlying Novartis share or they can be transferred to a market maker. If a Participant voluntarily leaves Novartis, equity not yet vested generally forfeit.
In , the vesting period for the Plan was changed from a two-year vesting period to a three-year vesting period for most countries.
Due to pending tax legislation in Switzerland, it was decided not to implement the three-year vesting period in Switzerland. The current view is that the new law will come into force in , at which point the vesting period might be reviewed.
The share options under the Select Rest of World Plan are granted at a strike price corresponding to the market price of the underlying share at the time of grant, have a term of ten years and an exchange ratio of 1: Introduced in , the Plan provides for equity awards for US-based Non-Executive Directors through , officers and other selected employees, thus replacing a Share Appreciation Rights Plan.
The terms and conditions of the US plan are substantially equivalent to the Select Rest of World Plan.
As of , share options granted under the plan are tradable share options on ADS. An exchange ratio of share options to shares is set by the Compensation Committee of the Board. The number of equity awards granted depends on the performance of the individuals and the Division in which they work.
From the makers of.
BALANCE INCOME CASH FLOW. This excerpt taken from the NVS 6-K filed Feb 9, This excerpt taken from the NVS 6-K filed Feb 8, This excerpt taken from the NVS F filed Jan 28, This excerpt taken from the NVS 6-K filed Feb 14, This excerpt taken from the NVS F filed Jan 31, A NOVARTIS EQUITY PLAN "SELECT" In , the Board of Directors adopted a modification to the Share Option Plans described below.
This excerpt taken from the NVS F filed Jan 30, EXCERPTS ON THIS PAGE: RELATED TOPICS for NVS: Defined Contribution Plans Equity-based Participation Plans Associates Share Participation Plans Associates Compensation Program Descriptions Employee Share Participation Plans VIEW MORE.
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F This excerpt taken from the NVS 6-K filed Feb 8, Feb 9, 6-K. Feb 8, F. Jan 28, 6-K. Feb 14, F. Jan 31, 6-K.
Jan 30, RELATED TOPICS for NVS: