<< < > >>
Search:
| Full PDF report | Print this page |
Annual Report & Accounts 2009 - Notes
slide
<< < > >>
53 20.3 Directors' and others interest in options At 31 December 2009 and at 19 April 2010 (when these financial statements were approved) the Directors' interest, and interest of other option holders in share options was as follows: At 31 December 2009 Individual and grant date Strike price Vested Not vested Total L Feldman 21.12.04 £4.20 155,000 - 155,000 16.05.05 £4.20 40,313 4,687 45,000 N.Blythe-Tinker 21.12.04 £4.20 155,000 - 155,000 16.05.05 £4.20 85,104 9,896 95,000 K Alexander 01.03.07 £1.00 550,000 250,000 800,000 R Cooper 12.12.08 £1.26 100,000 300,000 400,000 Other personnel 15.05.07 £1.29 99,839 54,751 154,590 26.02.08 £1.3816 68,750 81,250 150,000 1,254,006 700,584 1,954,590 On 27 January 2010, the Remuneration Committee made an offer to the Executive Directors to cancel their options that had been vested by that date. The Executive directors accepted that offer and were compensated in cash at the price of £2.11 for those options. The average share price in the three days immediately prior to this offer was £2.13. The individual details of these arrangements were as follows: Number of options Exercise Compensation Amount Director vested price price paid K Alexander 566,667 £1.00 £2.11 £629,000 R Cooper 108,333 £1.26 £2.11 £92,083 ----- ----- 675,000 £721,083 ----- ----- At 19 April 2010 (when these financial statements were approved) Individual and grant date Strike price Vested Not vested Total L Feldman 21.12.04 £4.20 155,000 - 155,000 16.05.05 £4.20 44,063 937 45,000 N.Blythe-Tinker 21.12.04 £4.20 155,000 - 155,000 16.05.05 £4.20 93,021 1,979 95,000 K Alexander 01.03.07 £1.00 33,333 200,000 233,333 R Cooper 12.12.08 £1.26 16,667 275,000 291,667 Other personnel 15.05.07 £1.29 112,722 41,868 154,590 26.02.08 £1.3816 78,125 71,875 150,000 687,931 591,659 1,279,590 * The exercise price for K Alexander was determined on the date of the announcement of him joining the company, 2 February 2007, when the mid-market closing price of the shares in the three days immediately preceding the announcement was 81.33p