Options and RSAs status summary as of December 31, 2015, 2016 and 2017 and the changes therein during the years ended on those dates:
|
|
Year ended December 31
|
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|
2015
|
2016
|
2017
|
||||||||||||||||||||||
|
Number |
Weighted average
exercise price |
Number |
Weighted average
exercise price |
Number |
Weighted average
exercise price |
|||||||||||||||||||
|
Share Options:
|
NIS
|
NIS
|
NIS
|
|||||||||||||||||||||
|
Outstanding at the beginning of the year
|
8,962,116
|
32.08
|
12,686,317
|
29.52
|
11,285,901
|
29.14
|
||||||||||||||||||
|
Granted during the year
|
5,519,031
|
17.41
|
998,433
|
18.14
|
1,201,358
|
19.45
|
||||||||||||||||||
|
Exercised during the year
|
(32,880
|
)
|
13.12
|
(284,251
|
)
|
15.74
|
(1,906,991
|
)
|
17.38
|
|||||||||||||||
|
Forfeited during the year
|
(1,459,215
|
)
|
28.7
|
(1,219,648
|
)
|
20.58
|
(988,566
|
)
|
22.91
|
|||||||||||||||
|
Expired during the year
|
(302,735
|
)
|
58.61
|
(894,950
|
)
|
38.16
|
(883,219
|
)
|
43.10
|
|||||||||||||||
|
Outstanding at the end of the year
|
12,686,317
|
29.52
|
11,285,901
|
29.14
|
8,708,483
|
29.67
|
||||||||||||||||||
|
Exercisable at the end of the year
|
4,615,076
|
45.97
|
5,912,904
|
37.77
|
5,190,586
|
36.66
|
||||||||||||||||||
|
Shares issued during the year due exercises
|
8,496
|
47,484
|
319,259
|
|||||||||||||||||||||
|
RSAs:
|
||||||||||||||||||||||||
|
Outstanding at the beginning of the year
|
1,589,990
|
2,900,626
|
1,955,414
|
|||||||||||||||||||||
|
Granted during the year
|
1,779,596
|
417,176
|
507,146
|
|||||||||||||||||||||
|
Vested during the year
|
(6,015
|
)
|
(858,397
|
)
|
(753,106
|
)
|
||||||||||||||||||
|
Forfeited during the year
|
(462,945
|
)
|
(503,991
|
)
|
(365,157
|
)
|
||||||||||||||||||
|
Outstanding at the end of the year
|
2,900,626
|
1,955,414
|
1,344,297
|
|||||||||||||||||||||
|
Options granted in 2015
|
Options granted in 2016
|
Options granted in 2017
|
||||||||||
|
Weighted average fair value of options granted using the
|
||||||||||||
|
Black & Scholes option-pricing model – per option (NIS)
|
5.37
|
5.02
|
5.43
|
|||||||||
|
The above fair value is estimated on the grant date based on the following weighted average assumptions:
|
||||||||||||
|
Expected volatility
|
39.28
|
%
|
39.5
|
%
|
37.6
|
%
|
||||||
|
Risk-free interest rate
|
0.54
|
%
|
0.54
|
%
|
0.53
|
%
|
||||||
|
Expected life (years)
|
3
|
3
|
3
|
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|
Dividend yield
|
*
|
*
|
*
|
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