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Share-based payment | 12 Months Ended
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Dec. 31, 2021
Share-based payment |
Share-based payment |
33 | Share-based payment
Over the years, stock option plans have been granted by Banco Inter to management personnel. The Shares Stock Option Plan is an initiative of the Group’s Board of Directors, through which the Group’s managers, executives and employees were granted options for the acquisition of shares of Inter, with a view to encouraging performance and favoring the retention of managers, executives and employees of the Group, insofar as their participation in Inter’s share capital will allow them to benefit from the results to which they contributed and which are reflected in the valuation of the price of its shares, thus forming, with the shareholders, a common economic interest. Plan 2 was launched in 2012, consisting of three tranches (Year 2012, 2013 and 2014) and will expire in 2021. The chosen employees will be entitled with the right to exercise the option to acquire 1,699,470 preferred shares, at a unit value of BRL 3.69. For the 2013 and 2014 tranches of the Plan 2, if the employee does not exercise the option between the vesting date and the exercise deadline, and, his/her employment at Inter is terminated, he/she will lose the right. Once the options are exercised, the grantee may not sell, transfer or dispose of such shares, as well as those that may be acquired by virtue of bonuses, splits, subscription or any other form of acquisition, provided that such rights have arisen for the employee from shares granted under the Plan, for a minimum period of five years as from the date of receipt of the first offer of shares offered to him/her by Inter. In 2016, a new Stock Option Plan (Plan 3) was launched, which entered into force in 2017 and will end in 2021, in which Inter may increase the Share Capital by up to a further 3,384,000 preferred shares, segregated into five vesting periods, subject to the rules of the regulation approved by the Board of Directors. The options exercisable will have a strike price of BRL 4.62 and may be exercised by the participant in up to three years as of the last lock-up period. If the employee does not exercise the option, and, his/her employment at Inter is terminated, he/she will lose the right. On February 05, 2018, Inter’s Board of Directors approved “Plan 4” of the purchase option. On July 09, 2020, the second tranche of “Plan 4” was approved, with vesting period from January 2021 to January 2025. These options may be exercised within the period of 3 (three) years from the respective vesting periods. If not exercised within the established period, the right to the shares will automatically expire, with no right to indemnity. The strike price of the options granted in the plans is equivalent to the book value per share at the end of the year prior to the grant. The main characteristics of the Plans are described below (per share): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | ​ |  | ​ |  | Average Strike |  | ​ |  | ​
Plan |  | Approval |  | Total number shares granted |  | Vesting |  | Price |  | Participants |  | Final Strike date
2 |  | 2/24/2012 |  | 30,590,460 |  | Up to 5 years |  | BRL 0.21 |  | Officers, managers and key employees |  | 12/31/2021
3 |  | 9/30/2016 |  | 10,584,000 |  | Up to 5 years |  | BRL 0.26 |  | Officers, managers and key employees |  | 12/31/2023
4 (tranche 1) |  | 2/15/2018 |  | 32,714,784 |  | Up to 5 years |  | BRL 0.21 |  | Officers, managers and key employees |  | 2/15/2025
4 (tranche 2) |  | 7/09/2020 |  | 19,093,500 |  | Up to 5 years |  | BRL 3.60 |  | Officers, managers and key employees |  | 12/31/2027
​ The changes in the options of each plan for the year ended on December 31 and supplementary information are shown below: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Transactions 12/31/2021 (Shares)
​ | ​ | Quantity of | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Plan |  | Employees |  | Opening Balance |  | Granted |  | Expired/Cancelled |  | Exercised |  | Final Balance
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
3 |  | 3 | ​ |  | 7,128,000 | ​ |  | 648,000 | ​ |  | — | ​ |  | 3,715,200 | ​ |  | 4,060,800
4 (1) |  | 31 | ​ |  | 19,652,310 | ​ |  | — | ​ |  | 2,131,200 | ​ |  | 2,772,720 | ​ |  | 14,748,390
4 (2) |  | 59 | ​ |  | 14,978,700 | ​ |  | 4,114,800 | ​ |  | 135,000 | ​ |  | 1,166,400 | ​ |  | 17,792,100
Total | ​ | ​ | ​ |  | 41,759,010 | ​ |  | 4,762,800 | ​ |  | 2,266,200 | ​ |  | 7,654,320 | ​ |  | 36,601,290
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Weighted average price of the shares | ​ | R$ | 1.46 | ​ | R$ | 4.06 | ​ | R$ | 0.50 | ​ | R$ | 0.91 | ​ | R$ | 2.39
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Transactions 12/31/2020 (Shares)
Plan |  | Qty employees |  | Opening balance |  | Granted |  | Expired/ Canceled |  | Exercised |  | Closing balance
2 |  | 1 | ​ |  | 431,046 | ​ |  | — | ​ |  | — | ​ |  | 431,046 | ​ |  | —
3 |  | 16 | ​ |  | 8,839,800 | ​ |  | — | ​ |  | 91,800 | ​ |  | 1,620,000 | ​ |  | 7,128,000
4 (1) |  | 33 | ​ |  | 22,667,274 | ​ |  | 2,880,000 | ​ |  | 837,522 | ​ |  | 5,057,442 | ​ |  | 19,652,310
4 (2) |  | 59 | ​ |  | — | ​ |  | 14,978,700 | ​ |  | — | ​ |  | — | ​ |  | 14,978,700
Total | ​ | ​ | ​ |  | 31,938,120 | ​ |  | 17,858,700 | ​ |  | 929,322 | ​ |  | 7,108,488 | ​ |  | 41,759,010
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Weighted Average period of the Shares | ​ | ​ | ​ | R$ | 0.29 | ​ | R$ | 3.06 | ​ | R$ | 0.26 | ​ | R$ | 0.26 | ​ | R$ | 1.46
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Transactions 12/31/2019 (Shares)
Plan |  | Qty employees |  | Opening balance |  | Granted |  | Expired/ Canceled |  | Exercised |  | Closing balance
2 |  | 12 | ​ |  | 4,325,184 | ​ |  | — | ​ |  | 278,640 | ​ |  | 3,615,498 | ​ |  | 431,046
3 |  | 18 | ​ |  | 9,736,200 | ​ |  | — | ​ |  | 136,800 | ​ |  | 759,600 | ​ |  | 8,839,800
4 |  | 25 | ​ |  | 129,542,464 | ​ |  | 900,000 | ​ |  | 388,800 | ​ |  | 7,386,390 | ​ |  | 22,667,274
Total | ​ | ​ | ​ |  | 143,603,848 | ​ |  | 900,000 | ​ |  | 804,240 | ​ |  | 11,761,488 | ​ |  | 1,774,340
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Weighted Average period of the Shares | ​ | R$ | 0.26 | ​ | R$ | 0.27 | ​ | R$ | 0.24 | ​ | R$ | 0.26 | ​ | R$ | 0.29
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Other Information 12/31/2021
​ | ​ | Number of Shares | ​ | Number of Exercisable | ​ | Share plan expense in | ​ | Share plan expense to | ​ | Remaining Remuneration | ​ | Remaining
Plan |  | Exercised |  | Shares |  | exercise |  | be Recognized |  | Cost Period (in years) |  | Contractual Life (in years)
3 | ​ | 3,715,200 | ​ | 4,060,800 | ​ | — | ​ | — | ​ | — | ​ | 2.0
4 (1) |  | 2,772,720 |  | 14,748,390 |  | — |  | — |  | — |  | 3.2
4 (2) |  | 1,166,400 |  | 17,792,100 |  | 3,089 |  | 16,924 |  | 4.0 |  | 6.1
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Other Information 12/31/2020
​ | ​ | ​ | ​ | Share plan | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | expense in the | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Number of Exercisable | ​ | nine month | ​ | Share plan expense to be | ​ | Remaining Remuneration | ​ | Remaining Contractual
Plan |  | Shares |  | period |  | Recognized |  | Cost Period (in years) |  | Life (in years)
2 |  | — |  | — |  | — |  | — |  | —
3 |  | 468,000 |  | 48 |  | 48 |  | 0.5 |  | 3.6
4 |  | 1,149,795 |  | — |  | — |  | 4 |  | 4.7
​

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