Stock Options Held by Employees
At December 31, 2010, no stock options were held by Group employees.
Please note that the Extraordinary Shareholders’ Meeting held on June 28, 2002 authorized the Board of Directors to carry out capital increases earmarked for the exercise of options that may be awarded in the future, as allowed under Article 2443 of the Italian Civil Code and within the applicable statutory limits. The abovementioned authorization, which expired on June 28, 2007, was used for options awarded in 2003 and 2004. On November 11, 2003 and December 3, 2004, the Board of Directors authorized the issuance of up to 4,200,000 and 3,619,269 shares, respectively, earmarked for the exercise of stock options awarded in 2003 and 2004. A total of 7,596,722 options were awarded based on these capital increases. As of December 31, 2008, as explained in previous reports, all of these options were exercised, surrendered, cancelled, or expired. Therefore, the balance of 491,814.00 euros of the capital increase approved by the Board of Directors on November 11, 2003 will not be implemented due to the fact that options are no longer being awarded to Company executives.
Stock Options Held by Directors
There are no Directors who hold stock options exercisable to acquire Edison shares.