Barclays 2009 Annual Report Download - page 179

www.barclays.com/annualreport09 Barclays PLC Annual Report 2009 177
confirmation is provided to the Committee of the extent to which each
performance condition has been met.
Relative Total Shareholder Return (TSR) and Return on Risk-Weighted
Assets (RoRWA) were selected in 2009 as performance measures to
support the Group’s long-term goals.
All awards and releases are recommended by the Committee to the
independent trustee and are subject to trustee discretion.
The trustee may also release to participants dividend shares which
represent accumulated dividends (net of withholding) in respect of shares
under award.
During 2009 Barclays highest share price was £3.84 and the lowest was
£0.51. The share price at year end was £2.76.
End of three-
Number of year PSP
shares under performance
award/option at Vested period, or first Last
Market price Number 31st December number Value of exercise/ exercise/
on release/ lapsed in 2009 of shares release/ scheduled scheduled
exercise date 2009 (maximum) under option exercise release date release date
– (240,749) 232,855 – – 31/12/08 30/03/11
– – 504,294 – – 31/12/09 22/03/10
– – 812,412 – – 31/12/10 20/03/11
– – 944,655 944,655 – 18/05/03 22/03/14
– – 3,735 – – 01/11/14 30/04/15
£2.08 – 430,969 – £0.08m 12/03/08 20/03/13
– (1,203,741) 1,164,273 – – 31/12/08 30/03/11
– – 2,878,686 – – 31/12/09 22/03/10
– – 2,031,030 – – 31/12/10 20/03/11
– – 575,008 575,008 – 12/03/04 22/03/14
£109.45 – – – £8.93m 26/03/07 15/12/09
£2.08 – 3,365,882 – £7.67m 07/03/10 20/03/13
– – 255,396 – – 31/12/09 22/03/10
– – 541,608 – – 31/12/10 20/03/11
– – 1,598,046 – – 31/12/11 27/04/12
– – 3,735 – – 01/11/14 30/04/15
£2.08 – 44,006 – £0.07m 20/03/11 20/03/13
Following completion of the sale of BGI on 1st December 2009, the BGI EOP was terminated In
accordance with the rules of the plan. As part of the EOP termination and in line with other
participants, Robert E Diamond Jr exercised his EOP options and sold his BGI Holdings shares to
Barclays Bank PLC. Robert E Diamond Jr’s EOP options were granted before he was appointed to
the Board of Barclays.
In relation to the 2006-2008 PSP awards, after consultation with the Committee, the executive
Directors wrote to the PSP trustee to request that it defer the exercise of its discretion to release
shares to them until 2011 (subject to continued employment and further financial performance
conditions relating to the underlying financial health of the Group). The maximum number of
shares that may be released in 2011 was determined in 2009 and is fixed as set out in the table
above. There will be no opportunity to receive shares in excess of this number (except for any
dividend shares that may be awarded by the PSP trustee).
TSR peer group constituents Actual
UK Mainland Europe US Underpin performance
HSBC, Lloyds Banking Group, Banco Santander, Citigroup, Committee must be satisfied with the To be determined
Royal Bank of Scotland BBVA, BNP Paribas, JP Morgan underlying financial health of the Group at vesting in
Deutsche Bank, UBS, Chase after considering Economic Profit (EP) March 2012
Unicredit and Profit Before Tax (PBT) on a cumulative
basis over the three-year period
HBOS, HSBC, Lloyds TSB, As above As above Cumulative EP over performance To be determined
Royal Bank of Scotland period must exceed cumulative EP at vesting in
over previous three years March 2011
As above As above As above As above Performance
condition
partially met