AB InBev Financial Results
Performance related incentive plan for ZX Ventures
In 2016, the company implemented a new performance related incentive plan which substitutes the long-term incentive
stock option plan for executives of ZX Ventures. ZX Ventures is our global growth and innovation group whose mandate
is to invest in, incubate and develop new products and businesses that address emerging consumer needs.
During 2022, no performance units were granted to senior management of ZX Ventures (2021: 1m performance units).
The value of the performance units will depend on the return of ZX Ventures. These units vest after 5 years provided that
a performance test is met. Specific forfeiture rules apply in the event that the executive leaves the company.
Other disclosures for Share-based payments
No stock options were granted in 2022 and 2021. The total number of outstanding AB InBev options developed as follows:
Million options
Options outstanding at 1 January
Options issued during the year
Options exercised during the year
Options forfeited during the year
Options lapsed during the year
Options outstanding at the end of December
2022
102.7
2021
113.3
(1.0)
(1.3)
(14.9)
(9.2)
(3.6)
83.2
102.7
The range of exercise prices of the outstanding options is between 10.32 euro (11.01 US dollar)1 and 128.46 euro (137.02
US dollar) while the weighted average remaining contractual life is 6.4 years.
Out of the 83.2m outstanding options, 23.7m options are vested at 31 December 2022.
The weighted average exercise price of the AB InBev options is as follows:
Amounts in US dollar
Options outstanding at 1 January
Granted during the year
Exercised during the year
Forfeited during the year
Lapsed during the year
Outstanding at the end of December
Exercisable at the end of December
2022
2021
64.77
71.22
16.11
46.30
94.76
89.56
88.10
76.04
102.19
64.77
98.27
For share options exercised during 2022, the weighted average share price at the date of exercise was 52.93 euro (56.46
US dollar).
The total number of outstanding AB InBev RSUs developed as follows:
Million RSUs
RSUS outstanding at 1 January
RSUS issued during the year
RSUS vested during the year
RSUS forfeited during the year
RSUs outstanding at the end of December
2022
2021
20.9
19.1
9.6
3.9
(0.5)
(1.1)
(1.8)
(1.1)
28.2
20.9
AMBEV SHARE-BASED COMPENSATION PROGRAMS
Since 2005, Ambev has had in place a plan which is substantially similar to the Share-based compensation plan under
which bonuses granted to company employees and management are partially settled in shares. Under the Share-based
compensation plan, Ambev issued 44 thousand matching RSUs in 2022 with an estimated fair value of less than 1m US
dollar (2021: 0.1m matching RSUS with an estimated fair value of less than 1m US dollar).
Since 2018, Ambev has had in place a plan which is substantially similar to the Share-based compensation plan under
which bonuses granted to company employees and management are partially settled in shares. Under the 2018 Share-
based compensation plan, Ambev issued 49.3m matching RSUs in 2022 with an estimated fair value of 148m US dollar
(2021: 20.6m matching RSUs with an estimated fair value of 61m US dollar).
1 Amounts have been converted to US dollar at the closing rate of the respective period.
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