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LONG-TERM INCENTIVE PLANS (Tables)
12 Months Ended
Dec. 31, 2018
LONG-TERM INCENTIVE PLANS  
Summary of changes in restricted and performance shares

 

 

 

Balance on January 1, 2016

    

12,525,256

Granted

 

13,357,922

Cancelled

 

(3,046,593)

Exercised

 

(2,403,094)

Balance on December 31, 2016

 

20,433,491

Granted

 

3,170,952

Cancelled

 

(1,901,782)

Exercised

 

(2,727,577)

Balance on December 31, 2017

 

18,975,084

Granted

 

2,411,345

Cancelled

 

(3,150,635)

Exercised

 

(3,974,293)

Balance on December 31, 2018

 

14,261,501

 

Schedule of stock option activity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2018

 

2017

 

2016

 

    

 

    

Average exercise

    

 

    

Average exercise

    

 

    

Average exercise

 

 

Number of shares

 

price in the year

 

Number of shares

 

price in the year

 

Number of shares

 

price in the year

 

 

 

 

R$

 

 

 

R$

 

 

 

R$

Available at beginning of the year

 

292,391

 

17.91

 

569,115

 

16.64

 

1,074,246

 

18.36

Options Exercised

 

(33,499)

 

14.86

 

 —

 

 —

 

 —

 

 —

Options Forfeited

 

(243,412)

 

18.62

 

(276,724)

 

15.11

 

(505,131)

 

20.49

Available at the end of the year

 

15,480

 

16.72

 

292,391

 

17.91

 

569,115

 

16.64

 

Summary of stock options by exercise price

 

 

 

 

 

 

 

 

 

   

    

 

    

 

    

 

    

Number

 

 

 

 

Average period of

 

Average

 

exercisable at

Exercise price

 

Quantity

 

grace (in years)

 

exercise price

 

December 31, 2018*

 

 

 

 

 

 

R$

 

 

R$ 16.86

 

10,754

 

0.2

 

15.90

 

10,754

R$ 18.58

 

4,726

 

4.0

 

18.58

 

4,726

 

 

15,480

 

  

 

  

 

15,480


*The total of options vested that are exercisable on December 31, 2018 is 15,480  (57,668 and 57,678 on December 31, 2017 and 2016).