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Unformatted text preview: has a stock option plan for officers and employees, enabling them to purchase common shares. Under the stock option plan, the aggregate number of shares reserved for issuance may not exceed the lower of 21.1 million common shares or 10% of the total number of outstanding common shares at any time. Each option granted under the plan before February 16, 2011 is for a maximum of five years. Each option granted under the plan on or after February 16, 2011 is for a maximum term of seven years. One-third of the options are exercisable each year commencing one year after the date of grant. The exercise price is determined by the Company's Board of Directors at the time the option is granted, and may not be less than the closing market price of the common shares on the last trading day prior to the grant date of the option. The stock options outstanding at December 31, 2012 expire at various dates to 2019. The number of common shares available for the granting of options as at December 31, 2012 was 6.4 million. The summary of the status of the stock option plan and changes during the years ended December 31, 2012 and 2011 are as follows: Canadian $ denominated options Balance at January 1 Granted Exercised Forfeited Expired Outstanding at end of period 2 012 Weighted average exercise price Number of options (CDN$) (000's) 13,728 $ 15.85 4,939 9.79 (342) 4.70 (1,273) 16.81 (2,402) 14,650 20.91 $ 13.15 2011 Weighted average exercise price Number of options (CDN$) (000's) 1 5,246 $ 14.86 2 ,006 16.09 (2,607) 8.76 (690) 20.05 (227) 1 3,728 20.08 $ 15.85 For the years ended December 31, 2012 and 2011, the weighted average share price at the date of exercise was $10.32 and $16.34, respectively. KINROSS GOLD 2012 ANNUAL REPORT FS53 The following table summarizes information about the stock options outstanding and exercisable at December 31, 2012: Options outstanding Exercise price range in CDN$: $ 3 .55 4 .23 $ 9 .54 1 4.32 2 1.49 4.22 9.53 14.31 21.48 26.42 Number of options (000’s) 1 ,040 3,476 3,150 5,455 1,529 14,650 Weighted average exercis...
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This document was uploaded on 03/30/2014.

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