Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Share-Based Payment (Tables)

v3.8.0.1
Share-Based Payment (Tables)
12 Months Ended
Dec. 31, 2017
Disclosure of terms and conditions of share-based payment arrangement [abstract]  
Schedule of Expenses Recognized in Financial Statements
The expenses recognized in the financial statements for services received from employees is shown in the following table:
 
   
Year ended December 31
 
   
2017
   
2016
   
2015
 
   
€ thousand
 
                 
Expenses arising from share-based payment Transactions
   
5
     
3
     
7
 

* Less than €1 thousand
Schedule of Black-Scholes Options Pricing Model
The fair value of the options is estimated using a Black-Scholes options pricing model with the following weighted average assumptions:

   
Year ended December 31
 
   
2017
   
2016
 
Dividend yield
   
0
%
   
0
%
Expected volatility
   
0.342
     
0.332
 
Risk-free interest
   
1.34
%
   
0. 67
%
Expected life (in years)
   
2-3
     
2-3
Schedule of Weighted Average Fair Values and Exercise Price
Weighted average fair values and exercise price of options on dates of grant are as follows:

   
Equal market price
 
   
2017
   
2016
 
   
US$
 
Weighted average exercise prices
   
9.02
     
8.3
 
                 
Weighted average fair value on grant date
   
1.8
     
1.6
 

 
Schedule of Number and Weighted Average Exercise Prices of Share Options
The following table lists the number of share options, the weighted average exercise prices of share options during the current year:
 
   
2017
   
2016
   
2015
 
         
Weighted
         
Weighted
         
Weighted
 
         
Average
         
average
         
Average
 
   
Number of
   
Exercise
   
Number of
   
exercise
   
Number of
   
Exercise
 
   
options
   
Price
   
options
   
price
   
options
   
Price
 
         
US$
         
US$
         
US$
 
                                   
Outstanding at beginning of year
   
22,502
     
7.34
     
19,502
     
8.26
     
157,821
     
8.26
 
                                               
Granted during the year
   
3,000
     
9.02
     
3,000
     
8.3
     
3,000
     
8.96
 
                                               
Exercised during the year
   
-
     
-
     
-
     
-
     
(140,193
)
   
8.33
 
                                               
Expired during the year
   
-
     
-
     
-
     
-
     
(1,126
)
   
8.4
 
                                                 
Outstanding at end of year
   
25,502
     
7.54
     
22,502
     
7.34
     
19,502
     
7.19
 
                                               
Exercisable at end of year
   
7.34
     
22,502
     
18,502
     
7.19
     
18,502
     
7.1