Barclays 2009 Annual Report Download - page 184

182 Barclays PLC Annual Report 2009 www.barclays.com/annualreport09
Corporate governance
Remuneration report
continued
Former Directors continued
Table 17: Executive Share Award Scheme (ESAS)
Number
Number at Market Market at 3rd
1st January Awarded price on price on Number November First Last
2009 in year award Number release lapsed in 2009 Value of release release
Scheme (maximum) (maximum) date released date 2009 (maximum) release date date
Frits Seegers
ESAS 285,712 – – (84,521) £2.83 – 201,191 £0.24m 21/03/10 20/03/11
Mr Seegers received 53,817 dividend shares from the ESAS released during the year (share price on release date was £2.86).
Table 18: Performance Share Plan (PSP)
Number of Number of
shares at Market Market shares at End of three-
1st January Awarded price on price on Number 3rd November year PSP Scheduled
2009 in year award Number release lapsed in 2009 Value of performance release
Scheme (maximum) (maximum) date released date 2009 (maximum) release period date
Frits Seegers
PSP 2006-2008 485,868 – £6.30 – – (246,983) 238,885 – 31/12/08 31/08/11
PSP 2007-2009 420,246 – £7.08 – – – 420,246 – 31/12/09 22/03/10
PSP 2008-2010 1,083,216 – £4.25 – – – 1,083,216 – 31/12/10 20/03/11
PSP 2009-2011 – 3,196,095 £2.34 – – – 3,196,095 – 31/12/11 27/04/12
In respect of Mr Seegers’ 2006 PSP award (scheduled to vest in 2009), vesting was deferred for a further two-year period at his request, subject to the
satisfaction of further performance conditions. The maximum number of shares that may be released is as set out in the table. There is no opportunity to
receive shares in excess of this number (save for any dividend shares that may be awarded by the PSP trustee). Following his cessation as a Director, a
recommendation has been made for the award to vest in March 2010. The Committee determined that the further performance conditions (as requested
in 2009) had been met.
50% of Mr Seegers’ 2009 PSP award was subject to the Return on Risk-Weighted Assets condition measured at GRCB level. The Committee
determined that following the reorganisation of GRCB, performance would be measured for the 2009 financial year only, to reflect his contribution whilst in
service (and is subject to the auditors’ final confirmation). Performance shares under this portion of the award (if any) will not vest until the third anniversary
of grant. The TSR portion of the award will continue to be measured for the full three-year period, with shares (if any) scheduled to vest on or after the third
anniversary of grant.
Table 19: Sharesave
Number Vested
Number at Weighted Market at 3rd number
1st January Awarded average Number price on Number November of First Last
2009 in year exercise vested Number exercise lapsed in 2009 share Value of exercise exercise
Scheme (maximum) (maximum) price in year exercised date 2009 (maximum) options exercise date date
Frits Seegers
Sharesave 3,480 – £4.70 – – – 3,480 – – 01/11/12 01/05/13
Gary Hoffman, a former Director, is a Director of Barclays Pension Fund Trustees Limited and received fees of £55,254.