A new system to grant variable remuneration components to certain Group executives was implemented in financial year 2009.
|Share Matching Scheme|
|2009 tranche||2010 tranche||2011 tranche|
|Grant date||1 Nov. 2009||1 Jan. 2010||1 Jan. 2011|
|End of term||March 2014||March 2015||March 2016|
|Share price at grant date||€||11.48||13.98||12.90|
The sum of €22 million (31 December 2010: €20 million) was transferred to the capital reserves in the period up to 30 June 2011 for the 2009, 2010 and 2011 tranches of the Share Matching Scheme.
The exercise of the rights to shares under the 2010 tranche in April 2011 reduced the capital reserves by €22 million (previous year: €9 million for 2009 tranche) due to the issuance of treasury shares in this amount to the executives.
|Balance at 1 January||2,147||2,158|
|Issue of rights under 2009 Share Matching Scheme||6||2|
|Issue of rights under 2010 Share Matching Scheme||14||17|
|Issue of rights under 2011 Share Matching Scheme||0||3|
|Exercise of rights under 2009 Share Matching Scheme||–9||0|
|Exercise of rights under 2010 Share Matching Scheme||0||–22|
|Balance at 31 December/30 June||2,158||2,158|
The SAR provisions for the other share-based payment systems for executives amounted to €56 million as at 30 June 2011 (31 December 2010: €37 million).