EasyJet 2009 Annual Report Download - page 53

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51 easyJet plc Annual report and accounts 2009
Achievement of Bonus for 2009
Andrew Harrison will be paid a bonus of £1,042,530 (177% of salary) in the year ending 30 September 2010 to reflect performance in the year ended
30 September 2009 (2008: 45% of salary).
Jeff Carr resigned on 25 September 2009 and will not be paid a bonus for the year ended 30 September 2009.
This bonus was earned against challenging targets that were set at the start of the financial year under review. These targets reflected the key short-term
objectives of the business arising out of the exceptional fuel price volatility and economic uncertainty that was prevalent at the start of the financial year.
Performance over the year was stronger than the ‘target’ expectations set at the beginning of the year and resulted in the bonus earned being towards the
top end of the bonus range. In a difficult consumer environment, a strong revenue performance helped to offset an increase in unit fuel costs equivalent to
£86.1 million and the Committee is satisfied that easyJet’s performance is robust in relation to other airlines.
Bonuses were determined by the Remuneration Committee in light of the Company’s performance against a range of key financial and operational metrics.
Performance achievement against these key performance indicators is shown below:
Directors’ interests
The following Directors hold direct interests in the share capital of easyJet:
30 September 2009 30 September 2008
Sir David Michels 12,100 12,100
Sir Michael Rake 3,100 –
David Bennett 10,000 10,000
John Browett 4,705 4,705
Professor Rigas Doganis 13,600 13,600
Sir Stelios Haji-Ioannou 66,076,451 66,076,451
Andrew Harrison 442,711 682,616
The interests of Sir Stelios Haji-Ioannou are held through easyGroup Holdings Limited.
On 12 October 2009, Andrew Harrison purchased 31 partnership shares and was allocated 31 matching shares under the Share Incentive Plan.
On 10 November 2009, Andrew Harrison purchased 34 partnership shares and was allocated 34 matching shares under the Share Incentive Plan.