The number and weighted-average exercise prices of share options under the share option programs were as follows:
Number of options | Weighted-average exercise price—R$ |
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At December 31, 2016 |
7,978,000 | 32.28 | ||||||
Cancellation or settlements |
(461,000 | ) | — | |||||
Share options exercised |
(1,405,000 | ) | 25.91 | |||||
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At December 31, 2017 |
6,112,000 | 32.70 | ||||||
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