Barclays 2009 Annual Report Download - page 265

www.barclays.com/annualreport09 Barclays PLC Annual Report 2009 263
44 Share-based payments continued
Expected volatility and dividend yield on the date of grant have been used as inputs into the respective valuation models for Sharesave and PSP.
The yield on UK government bonds with a commensurate life has been used to determine the risk-free discount rate of 3% for Sharesave and PSP. Option
life is estimated based upon historical data for the holding period of options between grant and exercise dates.
For the purposes of determining the expected life and number of options to vest, historical exercise patterns have been used, together with an assumption
that a certain percentage of options will lapse due to leavers.
The assumed dividend yield for Barclays PLC is the average annual dividend yield on the date of grant of 2%.
Analysis of the movement in the number and weighted average exercise price of options is set out below:
Sharesave aSharepurchase a, c
Number Weighted average Number Weighted average
(000s) ex. price (£) (000s) ex. price (£)
2009 2008 2009 2008 2009 2008 2009 2008
Outstanding at beginning of year 94,131 74,027 1.83 4.48 6,961 3,824 ––
Granted in the year 28,005 56,024 2.70 2.51 6,832 3,834 ––
Adjustment in grants for open offer –1,354 –4.33 –– ––
Exercised/released in the year (153) (3,357) 2.83 3.71 (952) (64) ––
Less: forfeited in the year (30,672) (33,917) 3.58 4.35 (521) (633) ––
Less: expired in the year –––– ––––
Outstanding at end of year 91,311 94,131 3.01 1.83 12,320 6,961 ––
Of which exercisable: 7,537 4,025 4.19 3.71 1,621 737 ––
ESAS a, c PSP a, c
Number Weighted average Number Weighted average
(000s) ex. price (£) (000s) ex. price (£)
2009 2008 2009 2008 2009 2008 2009 2008
Outstanding at beginning of year 267,937 182,200 –– 50,729 63,163 ––
Granted in the year 311,977 141,269 –– 4,794 8,528 ––
Adjustment in grants for open offer –6,884 –– –1,370 ––
Exercised/released in the year (90,296) (56,231) –– (6,496) (1,467) ––
Less: forfeited in the year (25,107) (6,185) –– (17,765) (20,865) ––
Less: expired in the year –––– –– ––
Outstanding at end of year 464,511 267,937 –– 31,262 50,729 ––
Of which exercisable: 12,714 15,131 –– –– ––
ISP a,c Absa BEE b
Number Weighted average Number Weighted average
(000s) ex. price (£) (000s) ex. price (£)
2009 2008 2009 2008 2009 2008 2009 2008
Outstanding at beginning of year/
acquisition date 7,100 ––– 73,152 73,152 3.16-4.55 3.40-3.89
Granted in the year 50,652 6,923 –– –– ––
Adjustment in grants for open offer –177 –– –– ––
Exercised/released in the year (19) –––(36,649) – 5.42 –
Less: repurchased in the year ––––(36,503) –––
Less: forfeited in the year (2,755) ––– –– ––
Less: expired in the year –––––– ––
Outstanding at end of year 54,978 7,100 –– –73,152 –3.16-4.55
Of which exercisable: – ––– –73,152 –3.16-4.55
Notes
aOptions/award granted over Barclays PLC shares.
bOptions/award granted over Absa Group Limited shares.
cNil cost award .