Barclays 2012 Annual Report Download - page 296

36 Share based payments continued
Executive Share Award Scheme (ESAS)
ESAS awards were granted to participants in the form of a provisional allocation of Barclays PLC shares. The total value of the ESAS award made to
the employee was dependent upon the business unit, Group and individual employee performance. The ESAS award must normally be held for at
least three years. Additional bonus shares are subsequently awarded to recipients of the provisional allocation and are considered for release upon
achieving continued service for three and five years from the date of award. ESAS awards were also made to eligible employees for recruitment
purposes under JSAP (Joiners Share Award Plan). All awards are subject to potential forfeiture if the individual resigns and commences work with a
competitor business.
Other schemes
In addition to the above schemes, the Group operates a number of other schemes including schemes operated by and settled in the shares of
subsidiary undertakings, none of which are individually or in aggregate material in relation to the charge for the year or the dilutive effect of
outstanding share options. Included within other schemes are the Performance Share Plan, Incentive Share Plan, Sharesave, Sharepurchase, and
the Barclays Long Term Incentive Plan which was introduced and approved at the AGM in April 2011.
Share option and award plans
The weighted average fair value per award granted and weighted average share price at the date of exercise/release of shares during the year was:
Weighted average
fair value per award
granted in year
Weighted average share
price at exercise/release
during year
2012
£m
2011
£m
2012
£m
2011
£m
SVPa,b 2.41 2.80 2.39 3.08
ESASa,c 1.69 2.84 2.38 2.87
Othersa0.63-2.45 0.65-2.77 2.14-2.45 2.18-3.03
SVP and ESAS are nil cost awards and nil cost options respectively on which the performance conditions are substantially completed at the date of
grant. Consequently the fair value of these awards/options is based on the market value at that date.
Movements in options and awards
The movement in the number of options and awards for the major schemes and the weighted average exercise price of options was:
SVPa,b ESASa,c Othersa,d
Number (000s) Number (000s) Number (000s)
Weighted average
ex. price (£)
2012 2011 2012 2011 2012 2011 2012 2011
Outstanding at beginning of
year/acquisition date 392,638 226,842 252,028 383,483 214,363 175,253 1.93 2.80
Granted in the year 345,165 255,592 3,571 11,267 114,305 111,374 1.44 1.52
Exercised/released in the year (170,672) (77,315) (153,425) (117,126) (60,150) (18,164) 1.47 2.03
Less: forfeited in the year (26,259) (12,481) (24,307) (25,596) (48,970) (46,480) 1.76 2.59
Less: expired in the year – – – – (18,572) (7,620) 2.79 3.94
Outstanding at end of year 540,872 392,638 77,867 252,028 200,976 214,363 1.70 1.93
Of which exercisable: 29 – 20,178 25,025 20,302 20,424 3.21 2.78
Certain of the Group’s share option plans enable certain directors and employees to subscribe for new ordinary shares of Barclays PLC. For
accounting for treasury shares see Note 33 Reserves.
Notes
a Options/award granted over Barclays PLC shares.
b Nil cost award and therefore the weighted average exercise price was nil.
c Nil cost options and therefore there was no weighted average exercise price.
d The number of awards within others at the end of the year principally relates to Sharesave (number of awards exercisable at end of year was 6,317,134). The
weighted average exercise price relates to Sharesave.
barclays.com/annualreport294 I Barclays PLC Annual Report 2012
Notes to the financial statements
For the year ended 31 December 2012 continued