NOTES
Consolidated financial statements •71
SECTION 2: RESULTS FOR THE YEAR, CONTINUED
SHARE-BASED PAYMENTSAND EMPLOYEE SHARES, CONTINUED
2.4
periodof only one year and amarket value at the grant
date of DKK 14million.The other share-based programme
comprises 437,228optionswith a vesting period of three
years and amarket value of DKK 64million.The value
of the programmes is recognised over the vesting periods
based on the likelihood that targets for group revenue and
EBITDA for 2013 and 2015 respectivelywill be reached,
and that the share optionswill vest.
Granted in 2012
In2012, PANDORA granted 1,009,977 share options.
The recognised value of the share options in the income
statement and in equity is based on the number of shares
expected to vest in February 2015 as the targets for this
programme are reached.
Number of shares in PANDORAA/S
Purchase of
Sale
2013
shares
of shares
2014
Executive Board
Allan Leighton
12,380
-
-
12,380
HenrikHolmark
289,584
-
-189,820
99,764
Total number of shares
301,964
-
-189,820
112,144
HenrikHolmark
-289,584
-
189,820
-99,764
Total number of shares
12,380
-
-
12,380
Board of Directors
PederTuborgh
-
-
-
-
MarcelloBottoli
29,461
-
-9,820
19,641
Christian Frigast
786,516
-
-740,516
46,000
TorbenBallegaard Sørensen
12,674
-
-11,000
1,674
BjørnGulden
-
68,014
-58,000
10,014
AndreaAlvey
6,107
-
-
6,107
NikolajVejlsgaard
501,455
-
-469,075
32,380
RonicaWang
4,070
-
-
4,070
Michael Hauge Sørensen
-
600
-
600
Anders Boyer-Søgaard
4,121
-
-
4,121
Per Bank
-
-
-
-
Total number of shares
1,344,404
68,614
-1,288,411
124,607
MarcelloBottoli
-29,461
-
9,820
-19,641
Total number of shares
1,314,943
68,614
-1,278,591
104,966
PANDORA has established a share plan for themembers of
the Board of Directorswhereby theChairman and the other
members of the Board are each required to own aminimum
number of shares corresponding to the amount of their
respective initial gross annual compensation.Themembers
of the Board of Directorsmust hold the shares for as long as
they aremembers of the Board of Directors of PANDORA.
