EasyJet 2013 Annual Report Download - page 89

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www.easyJet.com 87
Governance
Position against dilution limits
easyJet complies with the ABI Principles of Executive Remuneration. These principles require that commitments under all of the
Company’s share ownership schemes, must not exceed 10% of the issued share capital in any rolling 10 year period. The
requirement for shares under all current share incentive schemes, (LTIP, Deferred Annual Bonus Plan, Save As you Earn and Share
Incentive Plan) will be satisfied with share purchases on the market. The remaining 0.8 million options under the Discretionary
Share Option Schemes, when or if exercised, will continue to be settled by the issue of new shares. The Company’s current
position against its dilution limit is therefore under the maximum 10%limit.
Employee share plan participation
easyJet encourages share ownership throughout the Company by the use of Performance (Free) Shares and Matching shares
within a Share Incentive Plan and a Save As You Earn. Take up of the schemes remains high with over 91% of eligible staff
participating in one or more of the plans during the year. Executive Directors may also participate in these plans on the same terms
as other eligible staff. They are summarised in the Corporate Responsibility section on page 50.
Details of Directors’ service contracts and letters of appointment
Details of the service contracts and letters of appointment in place as at 30 September 2013 for Directors are as follows:
Date of current service contract or
letter of appointment
Unexpired term at
30 September 2013
Carolyn McCall OBE 1 July 2010 –
Chris Kennedy 1 July 2010 –
John Barton 17 April 2013 2 years 7 months
Charles Gurassa 27 June 2011 9 months
Adèle Anderson 1 September 2011 11 months
David Bennett 26 September 2013 1 year
John Browett 26 September 2013 2 years 11 months
Professor Rigas Doganis 26 September 2013 1 year 2 months
Keith Hamill OBE 1 March 2012 1 year 5 months
Andy Martin 1 September 2011 11 months
Review of past performance
The chart below, sets out the total shareholder return performance of the Company relative to the FTSE 250, FTSE 100 and a group
of European airlines(1). The FTSE 100 and FTSE 250 were chosen as we have been members of both indices during the period.
Total shareholder return
350
300
250
200
150
100
50
400
450
30 Sep
12
30 Sep
11
30 Sep
10
30 Sep
09
30 Sep
13
30 Sep
08
Source: Thomson Reuters
This graph shows the value, by 30 September 2013 of £100 invested in easyJet on 30 September 2008 compared with the value of £100 invested in the FTSE 100 and FTSE 250
Index or a comparator group of airlines. The other points plotted are the values at intervening financial year-ends (overseas companies have been tracked in their local currency,
i.e. ignoring exchange rate movements since 30 September 2008).
(1) British Airways, Lufthansa, Ryanair, Air France-KLM and Iberia have all been included in the comparative European Airlines group. British Airways and Iberia have been tracked
forward for 2011, 2012 and 2013 as IAG.
Value
easyJet FTSE100 Index FTSE250 Index Comparator Airlines