(figures in EUR) | Number of options 2017 | Weighted average exercise price 2017 | Number of options 2016 | Weighted average exercise price 2016 | ||||||||
Outstanding at January 1 | 586,590 | 7.495 | 703,257 | 7.209 | ||||||||
Forfeited during the year | 0 | 0 | 0 | 0 | ||||||||
Exercised during the year | — | — | (116,667 | ) | 5.770 | |||||||
Granted during the year | 0 | 0 | — | — | ||||||||
Outstanding at December 31 | 586,590 | 7.495 | 586,590 | 7.495 | ||||||||
Vested at December 31 | 507,726 | 0 | 428,863 | 0 | ||||||||
Grant date/employees entitled | Number of instruments | Vesting Conditions | Contractual life of Options | |||
Options granted to key management personnel | ||||||
December 16, 2013 ("Tranche 1") | 583,000 | Share price to be at least EUR 7.5 | 5 years | |||
December 16, 2013 ("Tranche 2") | 583,000 | Share price to be at least EUR 8.66 | 5 years | |||
December 16, 2013 ("Tranche 3") | 583,000 | Share price to be at least EUR 11.54 and US listing | 5 years | |||
Total Share options | 1,750,000 | |||||