Share option program 2013 | LTIP 2015 | |||||||||||||||||
(figures in EUR) | Tranche 1 | Tranche 2 | Tranche 3 | Tranche 1 | Tranche 2 | Tranche 3 | ||||||||||||
Fair value at grant date | 2.270 | 2.260 | 2.120 | 1.853 | 1.853 | 1.853 | ||||||||||||
Share price at grant date | 6.070 | 6.070 | 6.070 | 10.050 | 10.050 | 10.050 | ||||||||||||
Exercise price | 5.770 | 5.770 | 5.770 | 10.0475 | 10.0475 | 10.0475 | ||||||||||||
Expected volatility (weighted average) | 40 | % | 40 | % | 40 | % | 39.63 | % | 39.63 | % | 39.63 | % | ||||||
Expected life (Days) (weighted average) | 303 | 467 | 730 | 365 | 730 | 1,095 | ||||||||||||
Expected dividends | — | — | — | 8 | % | 8 | % | 8 | % | |||||||||
Risk-free interest rate | 1 | % | 1 | % | 1 | % | 0.66 | % | 0.66 | % | 0.66 | % |