ISRAEL CHEMICALS LTD | CIK:0000941221 | 3

  • Filed: 3/7/2018
  • Entity registrant name: ISRAEL CHEMICALS LTD (CIK: 0000941221)
  • Generator: SAP Disclosure Management
  • SEC filing page: http://www.sec.gov/Archives/edgar/data/941221/000095010318003092/0000950103-18-003092-index.htm
  • XBRL Instance: http://www.sec.gov/Archives/edgar/data/941221/000095010318003092/icl-20171231.xml
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  • ifrs-full:DisclosureOfDefinedBenefitPlansExplanatory

    The fair value of the options granted in 2014, as part of 2014 equity compensation plan, was estimated using the binomial model for pricing options. The grants in 2015 and 2016 and 2017 under the 2014 Equity Compensation Plan were estimated using the Black & Scholes model for pricing options. The parameters used in applying the models are as follows:

     

    2014 Plan

     

    Granted 2014

    Granted 2015

    Granted 2016

    Granted 2017

     

    Share price (in $)

    8.2

    7.0

    3.9

    4.5

    CPI-linked exercise price (in $)

    8.4

    7.2

    4.3

    4.3

    Expected volatility:

     

     

     

     

    First tranche

    29.40%

    25.40%

    30.51%

    31.88%

    Second tranche

    31.20%

    25.40%

    30.51%

    31.88%

    Third tranche

    40.80%

    28.80%

    30.51%

    31.88%

    Expected life of options (in years):

     

     

     

     

    First tranche

    4.3

    3.0

    7.0

    7.0

    Second tranche

    5.3

    3.0

    7.0

    7.0

    Third tranche

    6.3

    4.0

    7.0

    7.0

    Risk-free interest rate:

     

     

     

     

    First tranche

    (0.17)%

    (1.00)%

    0.01%

    0.37%

    Second tranche

    0.05%

    (1.00)%

    0.01%

    0.37%

    Third tranche

    0.24%

    (0.88)%

    0.01%

    0.37%

    Fair value (in $ millions)

    8.4

    9.0

    4.0

    11.3

    Weighted average grant date fair value per option (in $)

    1.9

    1.2

    1.1

    1.58