|
Options grant |
|
Number of |
|
Vesting conditions |
||||||||||||||||
|
Period |
|
options |
|
(1) |
|
(2) |
|
(3) |
|
(4) |
|
(5) |
|
(6) |
|
(7) |
|
(8) |
|
(9) |
|
Quarter 4, 2007 |
|
660,211 |
|
144,962 |
|
29,965 |
|
— |
|
— |
|
— |
|
— |
|
— |
|
485,284 |
|
— |
|
Quarter 1, 2008 |
|
92,470 |
|
— |
|
92,470 |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
Quarter 2, 2008 |
|
90,332 |
|
54,264 |
|
36,068 |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
Quarter 3, 2008 |
|
147,816 |
|
3,876 |
|
52,658 |
|
— |
|
— |
|
— |
|
— |
|
— |
|
91,282 |
|
— |
|
Quarter 4, 2008 |
|
82,171 |
|
32,558 |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
49,613 |
|
— |
|
Quarter 1, 2009 |
|
8,616 |
|
— |
|
8,616 |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
Quarter 3, 2009 |
|
34,109 |
|
34,109 |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
Quarter 4, 2009 |
|
29,457 |
|
29,457 |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
Quarter 1, 2010 |
|
26,356 |
|
26,356 |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
Quarter 2, 2010 |
|
94,186 |
|
94,186 |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
Quarter 4, 2010 |
|
727,450 |
|
547,450 |
|
— |
|
180,000 |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
Quarter 3, 2011 |
|
63,000 |
|
63,000 |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
Quarter 4, 2011 |
|
183,000 |
|
183,000 |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
Quarter 1, 2012 |
|
40,400 |
|
40,400 |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
Quarter 2, 2012 |
|
9,000 |
|
9,000 |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
Quarter 3, 2012 |
|
97,500 |
|
97,500 |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
Quarter 4, 2012 |
|
457,500 |
|
7,500 |
|
— |
|
— |
|
135,000 |
|
315,000 |
|
— |
|
— |
|
— |
|
— |
|
Quarter 1, 2013 |
|
328,000 |
|
328,000 |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
Quarter 2, 2013 |
|
92,100 |
|
92,100 |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
Quarter 3, 2013 |
|
5,000 |
|
5,000 |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
Quarter 4, 2013 |
|
110,000 |
|
110,000 |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
Quarter 1, 2014 |
|
147,300 |
|
122,300 |
|
— |
|
— |
|
— |
|
— |
|
25,000 |
|
— |
|
— |
|
— |
|
Quarter 3, 2014 |
|
13,500 |
|
13,500 |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
Quarter 4, 2014 |
|
179,500 |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
179,500 |
|
— |
|
— |
|
Modification (i) |
|
(133,139) |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
(133,139) |
|
— |
|
|
|
Quarter 2, 2015 |
|
61,000 |
|
26,000 |
|
— |
|
— |
|
— |
|
— |
|
— |
|
35,000 |
|
— |
|
— |
|
Quarter 3, 2015 |
|
60,500 |
|
60,500 |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
Quarter 4, 2015 |
|
813,000 |
|
123,000 |
|
— |
|
90,000 |
|
— |
|
— |
|
— |
|
— |
|
— |
|
600,000 |
|
Modification (ii) |
|
(190,000) |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
(190,000) |
|
Quarter 1, 2016 |
|
78,000 |
|
78,000 |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
Quarter 2, 2016 |
|
13,000 |
|
13,000 |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
Quarter 4, 2016 |
|
17,000 |
|
17,000 |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
Quarter 2, 2017 |
|
250,250 |
|
250,250 |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
Quarter 4, 2017 |
|
52,004 |
|
26,500 |
|
— |
|
— |
|
20,000 |
|
— |
|
— |
|
— |
|
5,504 |
|
— |
|
Total options Granted |
|
4,740,589 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) |
25% - vests one year after grant date and an additional 6.25% vests at the end of each quarter beginning one year after the grant date |
|
(2) |
Fully vested at grant date. |
|
(3) |
33.33% - vests one year after grant date and an additional 33.33% vests at the end of each year beginning one year after the grant date. |
|
(4) |
Vests one year after the grant date. |
|
(5) |
Vests three years after the grant date, subject to performance condition as detailed above. |
|
(6) |
Vests 11 months after the grant date. |
|
(7) |
33% - vests one year after grant date and an additional 8.33% vests at the end of each quarter beginning one year after the grant date. |
|
(8) |
Other than (1) - (7) above (mainly - quarterly-based, ten to twelve quarters). |
|
(9) |
300,000 options fully vested at grant date out of which 190,000 were granted in lieu of 190,000 options which were cancelled. See sub note 9(ii) below. The remaining 300,000 options were subject to market condition with a service period of one year from grant date for 50% of the options, and a service period of two years from grant date for the remaining 50% of the options. |
|
(i) |
In November 2014, the Company modified the terms of part of the above grants by cancelling 494,496 outstanding options and granting in return 361,357 new options with a lower exercise price. The new options include new vesting conditions as described in sub note 7 above. |
|
(ii) |
In December 2015, the Company modified the terms of part of the above grants by cancelling 190,000 outstanding options and granting in return 190,000 options, fully vested, with lower exercise price. See sub note 9 above. |