Movements in the number of warrants outstanding and their related weighted average exercise prices are as follows:
2017 | 2016 | |||||||||||||||
Weighted average exercise price (in €) |
Number of warrants | Weighted average exercise price (in €) |
Number of warrants | |||||||||||||
Outstanding as of January 1st, |
20.92 | 571,444 | 11.61 | 319,330 | ||||||||||||
Granted |
30.37 | 367,100 | 33.10 | 343,550 | ||||||||||||
Forfeited |
28.50 | 31,817 | 34.20 | 91,436 | ||||||||||||
Exercised |
2.77 | 225,966 | — | — | ||||||||||||
Expired |
22.44 | 5,799 | — | — | ||||||||||||
At December 31, |
31.76 | 674,962 | 20.92 | 571,444 |