Share-based compensation (Tables)

12 Months Ended

Dec. 31, 2018

The grants awarded are summarized below:


	in thousands of options
	Grants		Exercised			Canceled (i)			Outstanding		Exercible
Grants on January 23, 2012		4,860,000		(3,732,000	)		(1,009,100	)		118,900		11.5
Grants on March 20, 2013		4,494,000		(2,409,302	)		(1,266,890	)		817,808		15.7

At December 31, 2018		9,354,000		(6,141,302	)		(2,275,990	)		936,708		27.2

(i)	The cancellations refer to shares granted to executives or employees who no longer work for the Company. Additionally, on April 16, 2014, there was a cancellation of the grants awarded to members of the Board of Directors, with payment of compensation to plan participants.

Disclosure of Number and Weighted Average Exercise Prices of Share Options

The fair value of virtual shares is determined based on the average price (weighted by trading volume) of the Company’s shares (EMBR3-R$) for the last 10 trading days prior to the close of the period, applied to the number of virtual shares assigned to each participant in proportion to the vesting period.


	Amount of virtual stock		Grant value		Amount of virtual stock(i)		Fair value of shares (R$)
Grants on February 25, 2014		1,570,698		30.4		175,100		3.7
Grants on March 03, 2015		1,237,090		30.2		546,024		11.5
Grants on March 10, 2016		1,095,720		31.1		541,595		11.4
Grants on June 09, 2016		55,994		1.1		32,674		0.7
Grants on August 25, 2016		70,978		1.1		43,783		0.9
Grants on August 24, 2017		1,930,350		30.5		762,782		16.1
Grants on April 12, 2018		1,625,372		35.2		346,221		7.3

At December 31, 2018		7,586,202		159.6		2,448,179		51.6

(i)	Virtual shares until December 31, 2018 considering the plan’s vesting period.