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This excerpt taken from the SYT 20-F filed Mar 1, 2006. Employee Share Purchase Plans In November 2001, the Swiss Employee Share Purchase Plan was introduced for all employees of certain Swiss subsidiaries. This plan entitles employees to subscribe for shares at a discount of 50% from the closing share price on the grant date. The maximum subscription amount per employee, based on fair market value, is CHF 5,000. A total of 63,137 shares (2004: 70,982 shares; 2003: 110,022 shares) were subscribed and settled through a release of treasury shares, at a market value of approximately CHF 142.20 per share (2004: 117.20 per share; 2003: CHF 75.75 per share). Shares purchased under this plan vest immediately, and are subject to a three year blocking period. In November 2005, a Share Option Savings Plan was introduced for all employees of certain US subsidiaries. This plan entitles employees to subscribe for ADSs at a discount of 30% from the closing ADS price on the grant date. The maximum subscription amount per employee, based on fair market value, is US$3,000. A total of 182,923 ADS were subscribed and settled through a release of treasury shares, at a market value of approximately US$21.59 per ADS. The ADSs purchased under this plan vest immediately, and are subject to a two year blocking period. |
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