Share ownership.

To align the interests of executive directors and shareholders, the Group Chief Executive and other executive directors are expected to build and maintain a shareholding in the Company. Executive directors are expected to build up the shareholding through the vesting of shares under the Group’s share incentive plans. Existing shareholdings and shares acquired in the market are also taken into account. The Group Chief Executive is expected to hold the equivalent of 200% of base salary and the other executive directors 100% of base salary.

Although share ownership guidelines are not contractually binding, the Committee retains the discretion to withhold future grants under the PSP if executives do not comply with the guidelines.

As at 31 December 2012, the executive directors’ share ownership against the guidelines were:

Executive directors’ shareholding as at 31 December 2012

(XLS:) Executive directors’ shareholding as at 31 December 2012

 

Actual share ownership as % of base salary: vested shares

Actual share ownership as % of base salary: vested and unvested shares (excludes any shares with performance conditions)

Guidelines on share ownership as a % of base salary

Guideline met

Nigel Wilson

478.92%

606.65%

200%

Yes

John Pollock

496.86%

632.49%

100%

Yes

Mark Gregory

419.25%

538.59%

100%

Yes

Mark Zinkula

0.00%

154.89%

100%

Yes

Share price used for calculations: 145.6p as at 31 December 2012.

Shares with performance conditions are excluded from the calculation as they have not yet vested and vesting cannot be guaranteed.

Total shareholding of executive directors

The lowest share price during 2012 was 102.8p and highest share price was 147.9p.

(XLS:) Total shareholding of executive directors

 

Type

Owned outright/
vested shares

Value of owned outright/
vested shares

Subject to deferral/
holding period

Value of shares subject to deferral/
holding period

Total vested and unvested shares (excludes any shares with performance conditions)

Value of total vested and unvested shares (excludes any shares with performance conditions)

1.

Nil cost options under the PSP that have vested but not yet been exercised.

2.

SAYE options.

Nigel Wilson

Shares

1,268,246

£1,846,566

655,156

£953,907

1,923,402

£2,800,473

 

ESP

4,156

£6,051

2,835

£4,128

6,991

£10,179

 

Options

1,194,5391

£1,739,249

0

£0

1,194,539

£1,739,249

 

 

2,466,941

£3,591,866

657,991

£958,035

3,124,932

£4,549,901

John Pollock

Shares

559,993

£815,350

396,557

£577,387

956,550

£1,392,737

 

ESP

22,029

£32,074

5,586

£8,133

27,615

£40,207

 

Options

953,6081

£1,388,453

17,0382

£24,807

970,646

£1,413,261

 

 

1,535,630

£2,235,877

419,181

£610,328

1,954,811

£2,846,205

Mark Gregory

Shares

475,871

£692,868

335,613

£488,653

811,484

£1,181,521

 

ESP

20,923

£30,464

5,468

£7,961

26,391

£38,425

 

Options

798,9691

£1,163,299

27,7672

£40,429

826,736

£1,203,728

 

 

1,295,763

£1,886,631

368,848

£537,043

1,664,611

£2,423,674

Mark Zinkula

Shares

0

£0

478,704

£696,993

478,704

£696,993

 

ESP

0

£0

0

£0

0

£0

 

Options

0

£0

0

£0

0

£0

 

 

0

£0

478,704

£696,993

478,704

£696,993