18. Share and Participation Capital
|
|
Number of registered shares1 |
|
Number of participation certificates2 |
|
Registered shares (CHF million) |
|
Participation certificates |
|
Total |
||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
As at January 1, 2020 |
|
135,988 |
|
1,072,641 |
|
13.6 |
|
10.7 |
|
24.3 |
||||||
Capital increase |
|
– |
|
18,120 |
|
– |
|
0.2 |
|
0.2 |
||||||
Capital decrease (destruction) |
|
– 436 |
|
– 46,615 |
|
– |
|
– 0.5 |
|
– 0.5 |
||||||
As at December 31, 2020 |
|
135,552 |
|
1,044,146 |
|
13.6 |
|
10.4 |
|
24.0 |
||||||
Capital increase |
|
– |
|
22,418 |
|
– |
|
0.2 |
|
0.2 |
||||||
As at December 31, 2021 |
|
135,552 |
|
1,066,564 |
|
13.6 |
|
10.6 |
|
24.2 |
||||||
|
||||||||||||||||
The conditional capital has a total of 340,907 participation certificates (363,325 in prior year) with a par value of CHF 10. Of this total, 186,457 (208,875 in prior year) are reserved for employee stock option programs; the remaining 154,450 participation certificates (154,450 in prior year) are reserved for capital market transactions. There is no other authorized capital. In 2021, a total of 22,418 (18,120 in prior year) of the employee options were exercised at an average price of CHF 5,382 (CHF 4,909 in prior year). The participation certificate has no voting right, but otherwise has the same ownership rights as the registered share.
The number of own registered shares and participation certificates (treasury stock) is as follows:
|
|
2021 |
|
2020 |
||||
|---|---|---|---|---|---|---|---|---|
|
|
Registered shares |
|
Participation certificates |
|
Registered shares |
|
Participation certificates |
Inventory as at January 1 |
|
377 |
|
– |
|
1,475 |
|
46,615 |
Additions |
|
– |
|
– |
|
215 |
|
2,630 |
Retirements |
|
– 163 |
|
– |
|
– 877 |
|
– 2,630 |
Share buy-back program |
|
453 |
|
37,570 |
|
– |
|
– |
Capital decrease (destruction) |
|
– |
|
– |
|
– 436 |
|
– 46,615 |
Inventory as at December 31 |
|
667 |
|
37,570 |
|
377 |
|
– |
|
|
|
|
|
|
|
|
|
Average cost of additions (CHF) |
|
– |
|
– |
|
73,663 |
|
7,238 |
Average sales price of retirements (CHF) |
|
89,054 |
|
– |
|
82,489 |
|
7,723 |
Average cost of share buy-back program (CHF) |
|
106,203 |
|
10,560 |
|
– |
|
– |
Average cost of capital decrease (CHF) |
|
– |
|
– |
|
76,180 |
|
6,520 |