EasyJet 2015 Annual Report Download - page 82

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78 easyJet plc Annual report and accounts 2015
Note: The unconditionally owned shares of Carolyn McCall have increased by 56 shares since 30 September 2015 to
327,951 shares due to:
• the purchase in October and November 2015 of 17 SIP Partnership Shares; and
• the vesting of 39 SIP Matching Shares awarded in October and November 2012.
The interests in SIP shares of Carolyn McCall have decreased by 22 shares since 30 September 2015 to 890 shares due to:
• the vesting of 39 SIP Matching Shares awarded in October and November 2012; and
• the award of 17 SIP Matching Shares in October and November 2015.
Any changes subsequent to the date of this report may be found on our corporate website, http://corporate.easyJet.com
Executive Directors are deemed to be interested in the unvested shares held by the easyJet Share Incentive Plan and the easyJet plc
Employee Benefit Trust. At 30 September 2015, ordinary shares held in the Trusts were as follows:
Number
easyJet Share Incentive Plan Trust 1,552,512
easyJet plc Employee Benefit Trust 115,488
Total 1,668,000
Position against dilution limits
easyJet complies with the Principles of Remuneration with regard to dilution limits. 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, Save As you Earn and Share Incentive Plan) will be satisfied
with share purchases on the market. The Company’s current position against its dilution limit is therefore under the maximum
10% limit.
The Company regularly reviews its position against the dilution guidelines and, should there be insufficient headroom within which to
grant new awards which could be satisfied by issuing new shares, it is the intention of the Company to continue its current practice
of satisfying such awards with shares purchased on the market. This would include, in relation to the guidance, the 5% in 10 year
dilution limit which relates to discretionary share plans.
Employee share plan participation
easyJet encourages share ownership throughout the Group by the use of Performance (Free) Shares and Matching Shares within
a Share Incentive Plan and a Save As You Earn scheme. All staff subject to minimum service were granted shares 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 report on page 34.
Details of Directors’ service contracts and letters of appointment
Details of the service contracts and letters of appointment in place as at 30 September 2015 for Directors are as follows:
Date of current service contract
or letter of appointment
Unexpired term at
30 September 2015
John Barton 3 October 2013 7 months
Charles Gurassa 27 June 2014 1 year 9 months
Carolyn McCall OBE 1 July 2010 –
Andrew Findlay 10 April 2015 –
Adèle Anderson 1 September 2014 1 year 11 months
Dr. Andreas Bierwirth 19 June 2014 1 year 9 months
John Browett 26 September 2013 1 year
Keith Hamill OBE 3 March 2015 2 years 4 months
Andy Martin 1 September 2014 1 year 11 months
François Rubichon 19 June 2014 1 year 9 months
Directors’ remuneration report continued