As stated above, 37.5% of any bonus earned is normally deferred into shares under the [SBP], under which restricted shares are awarded and held in a trust for three years. The release of shares is not subject to further performance conditions; however, executives are normally required to remain in employment during the three-year vesting period. As the shares have been earned prior to award, any dividends occurring on these shares are paid to the executives during the vesting period. The value of the shares awarded to directors is reported in the year of performance and shown in the directors’ remuneration table.
Should the performance which led to the payment of a bonus subsequently be found to be misstated, the Committee has discretion to withhold some or all of the SBP awards paid to executive directors relating to the relevant year’s performance.
SHARE BONUS PLAN
Awards made since 2005 have been included within the directors’ remuneration table in the year to which the bonus relates.
Nigel Wilson Recruitment Award
The following shares were granted – see the Performance Share Plan section
(Download XLS:)  |
|
Date of Award |
Number of shares |
Date of Vesting |
|---|---|---|
|
16th October 2009 |
253,649 |
16th October 2011 |
|
16th October 2009 |
253,649 |
16th October 2012 |
|
16th October 2009 |
253,650 |
16th October 2013 |
