Experian 2013 Annual Report Download - page 85
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Please find page 85 of the 2013 Experian annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.PBT (75% of an award)
Average growth target
per annum Vesting*
Below 5% 0%
5% 25%
11% 10 0%
* straight-line vesting between points
TSR vs FTSE 100 – % outperformance (25% of an award)
3 year TSR Vesting*
Below index 0%
Equal to index 25%
25% above index 100%
* straight-line vesting between points
PBT (50% of an award)
Average growth target
per annum Vesting*
Below 5% 0%
5% 50%
11% 10 0%
* straight-line vesting between points
Cash flow (50% of an award)
3 year cash flow Vesting*
Below $2,900m 0%
$2,900m 50%
$3,300m 100%
* straight-line vesting between points
Sharesave plans
All executive directors and employees of the Company, and any participating subsidiaries in which sharesave or a local
equivalent is operated, are eligible to participate if they are employed by the Group at a qualifying date. As an example of these
plans, the UK Sharesave Plan provides an opportunity for employees to save a regular monthly amount, over either three or five
years which, at the end of the savings period, may be used to purchase Experian shares at up to 20% below market value at the
date of grant.
Outcome of performance testing determined in the year ended 31 March 2013
Co-investment Plans
For awards granted under the Co-investment Plans in June 2010, the matching shares were subject to the achievement of
performance targets as set out in the following tables.
The Committee measured the performance conditions over the three years ended 31 March 2013 and the results were
as follows:
•PBT: average annual growth over the three-year performance period was 13.5% which resulted in 100% of this part of the
award vesting; and
•Cash flow: three-year cumulative cash flow was US$3,330m which resulted in 100% of this part of the award vesting.
In aggregate therefore, 100% of the matching awards will vest on 3 June 2013.
Performance Share Plan
PSP awards granted in June 2010 were subject to performance conditions measured over the three years ended 31 March 2013,
as set out in the following tables.
Vesting was also subject to the Committee confirming that ROCE performance had been satisfactory.
The Committee measured the performance conditions over the three years ended 31 March 2013 and the results were as
follows:
•PBT: average annual growth over the three-year performance period was 13.5% which resulted in 100% of this part of the
award vesting; and
•TSR: three-year outperformance was 47.1% which resulted in 100% of this part of the award vesting.
The Committee confirmed that ROCE performance was satisfactory and in aggregate, therefore, 100% of the awards will vest on
3 June 2013.
Business overview Business review Governance Financial statements
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