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Annual Report & Accounts 2015 - REPORT OF THE REMUNERATION COMMITTEE
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7. Directors' share options existing existing Vested at 31 at 31 at 31 option December Granted in surrendered December December expiry scheme price 2014 the year in the year 2015 2015 date executive Directors K alexander 21 may 2010 213p 800,000 - (800,000) - - 20 may 2020 K alexander 16 nov 2011 154.79p 800,000 - (800,000) - - 27 Jan 2022 K alexander 2 June 2014 1p 1,400,000 - - 1,400,000 - 31 mar 2022 r Cooper 21 may 2010 213p 400,000 - (400,000) - - 20 may 2020 r Cooper 16 nov 2011 154.79p 400,000 - (400,000) - - 27 Jan 2022 r Cooper 2 June 2014 1p 700,000 - - 700,000 - 31 mar 2022 non-executive Directors L feldman 21 may 2010 213p 400,000 - (400,000) - - 20 may 2020 L feldman 16 nov 2011 154.79p 400,000 - (400,000) - - 27 Jan 2022 L feldman 2 June 2014 1p 350,000 - - 350,000 - 31 mar 2022 total 5,650,000 - (3,200,000) 2,450,000 - the charge to the Consolidated income statement in respect of these options in 2015 was €314,000 (2014: €638,000). 8. other employees and consultants the majority of staff in the Group are also able to benefit financially from their endeavours through either a discretionary bonus scheme and/or Group share option plans. the charge to the Consolidated income statement in respect of the options for other employees and consultants in 2015 was €135,000 (2014: €98,000). the total share option charge to the consolidated income statement for the year ended 31 December was: 2015 2014 € € Directors 314,000 638,000 other staff 135,000 98,000 449,000 736,000 9. Proposed changes to remuneration arrangements as set out in the prospectus issued on 13 november 2015, the Company made an offer for bwin.party digital entertainment plc. included within the prospectus were details of the proposed changes to the current arrangements for share options and Long term incentive plans. under these proposals, on completion of the acquisition in february 2016: (a) Cash payments due under the retention plan were settled contemporaneously and re-invested into new GvC shares, with a lock up for a year from 1 february 2016; (b) existing share options held by the directors were cash cancelled on the basis of the value of a GvC share at the date of announcement of the acquisition, 422p, and the after-tax proceeds were contemporaneously re-invested in new GvC shares, also with a lock up for a year from 1 february 2016; (c) a new Long-term incentive plan (Ltip) was introduced under which options may be granted at an exercise price and with/without dividend equivalents, as determined by the remuneration Committee. under the new Ltip, the following share options were granted on 3 february 2016: Granted exercise Vesting Performance 2 Feb 2016 price period conditions K alexander 8,798,075 422p 2 years 6 months r Cooper 4,399,037 422p 2 years 6 months L feldman 4,399,037 467p 2 years 6 months n teufelberger 200,000 422p 2 years none total shareholder return to rank at median or above in the ftse 250, measured quarterly 32 GVC HOLDINGS PLC ANNUAL REPORT 2015 RePoRt oF the ReMUneRAtion coMMittee continued