3. Changes in Stockholders’ Equity
Common Stock
On March 31, 2009, the common stock of the Company amounted to € 22,492,287 (December 31, 2008: € 22,478,787). Through the exercise of 13,500 options issued to management and employees, common stock increased by € 13,500 in the first three months of 2009. Treasury stock amounted to € 9,774 as of March 31, 2009 (December 31, 2008: € 9,774).
Additional Paid-in Capital
On March 31, 2009, additional paid-in capital amounted to € 158,853,154 (December 31, 2008: € 158,523,363). The total increase of € 329,791 is due to stock-based compensation in the amount of € 282,136. A further increase of € 47,655 arose from the exercise of stock options issued to related parties.