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Stock option plan

The first vesting period envisaged by the stock option plan, approved in September 2004 by the Board of Directors of Benetton Group S.p.A., came to an end in September 2006. As a result, a total of 1,337,519 options became exercisable, meaning that their beneficiaries could subscribe to an equal number of the Company's shares at a price of Euro 8.984 each up until the plan's end date in September 2013. Further to a review of the overall structure, scope and principles of the system of incentives, in September 2006 management agreed with the Company to cancel the second "tranche" of the 2004 plan.

A total of 3,520 options were exercised on February 28, 2008, causing the share capital of Benetton Group S.p.A. to increase to Euro 237,482,715.60, representing 182,679,012 shares. A total of 117,318 options were cancelled at the end of February 2008. This means that at December 31, 2008 there were still 100,000 unexercised options left.

Details of this stock option plan can be found under "Stock Option Plan" in "Regulations & Codes" in the Governance section of the website www.benettongroup.com/investors.

 

 

Options outstanding as of 01.01.2008

New options granted in the period

Options exercised in the period

Options expired and not exercised or lost in the period

Options cancelled in the period due to termination of employment

Options outstanding as of 12.31.2008

of which exercisable as of 12.31.2008

No. of options

220,838

-

3,520

-

117,318

100,000

100,000

Allocation ratio (%)

0.121

 

0.002

 

0.064

0.055

0.055

Weighted average

 

 

 

 

 

 

 

exercise price (Euro)

8.984

 

8.984

 

-

8.984

8.984

Market price (Euro)

11.88

 

9.04

 

 

6.10

6.10