HSBC 2006 Annual Report Download - page 277

275
Bank of Bermuda: Share Option Plan 2000
HSBC Holdings ordinary shares of US$0.50
Date of
award
Exercise
price (US$)
Exercisable
from
Exercisable
until
Options at
1 January
2006
Options
exercised
during year1
Options
lapsed
during year
Options at
31 December
2006
11 Jan 2001 14.27 11 Jan 2002 11 Jan 2011 134,857 – – 134,857
6 Feb 2001 16.41 6 Feb 2002 6 Feb 2011 799,334 140,524 28,164 630,646
29 Mar 2001 15.39 29 Mar 2002 29 Mar 2011 270 – – 270
16 Apr 2001 15.57 16 Apr 2002 16 Apr 2011 539 – – 539
6 Jun 2001 18.35 6 Jun 2002 6 Jun 2011 8,091 – – 8,091
16 Jul 2001 16.87 16 Jul 2002 16 Jul 2011 158,485 81,438 62,117 14,930
28 Aug 2001 15.39 28 Aug 2002 28 Aug 2011 13,486 – – 13,486
26 Sep 2001 12.79 26 Sep 2002 26 Sep 2011 448,945 10,360 – 438,585
30 Jan 2002 15.60 30 Jan 2003 30 Jan 2012 1,226 – – 1,226
5 Feb 2002 16.09 5 Feb 2003 5 Feb 2012 1,051,814 172,382 14,050 865,382
5 Feb 2002 16.41 5 Feb 2003 5 Feb 2012 1,383 1,383 – –
10 Jul 2002 15.84 10 Jul 2003 10 Jul 2012 12,260 – – 12,260
4 Feb 2003 10.69 4 Feb 2004 4 Feb 2013 199,345 59,687 – 139,658
21 Apr 2003 11.85 21 Apr 2004 21 Apr 2013 48,853 28,013 – 20,840
1 The weighted average closing price of the shares immediately before the dates on which options were exercised was £9.68.
Bank of Bermuda: Directors’ Share Option Plan
HSBC Holdings ordinary shares of US$0.50
Date of
award
Exercise
price (US$)
Exercisable
from
Exercisable
until
Options at
1 January
2006
Options
exercised
during year
Options
lapsed
during year
Options at
31 December
2006
22 Sep 1999 8.02 22 Sep 2000 22 Sep 2009 7,706 –4,624 3,082
20 Sep 2000 11.31 20 Sep 2001 20 Sep 2010 9,440 –5,394 4,046
28 Mar 2001 15.76 28 Mar 2002 28 Mar 2011 15,508 –2,697 12,811
3 Apr 2002 16.01 3 Apr 2003 3 Apr 2012 29,424 –4,904 24,520
30 Apr 2003 12.23 30 Apr 2004 30 Apr 2013 9,808 –4,904 4,904
Employee compensation and benefits
Note 7 on the Financial Statements on pages 320 to
331 gives details about employee compensation and
benefits including pension plans.
Set out below is information in respect of the
five individuals who are not Directors of HSBC
Holdings whose emoluments (excluding
commissions or bonuses related to the revenue or
profits generated by employees individually or
collectively with others engaged in similar activities)
were the highest in HSBC for the year ended
31 December 2006.
£000
Basic salaries, allowances and benefits in
kind .......................................................... 1,708
Pension contributions .................................. 226
Bonuses paid or receivable .......................... 19,847
Inducements to join paid or receivable ....... 2,012
Compensation for loss of office:
– contractual ........................................... 11,521
Total ............................................................. 35,314
Total (US$000) ............................................ 65,001
Their emoluments are within the following
bands:
Number of
Employees
£4,500,001 – £4,600,000 ............................. 1
£5,900,001 – £6,000,000 ............................. 1
£6,400,001 – £6,500,000 ............................. 1
£7,900,001 – £8,000,000 ............................. 1
£10,400,001 – £10,500,000 .......................... 1
The aggregate remuneration of Directors and
Senior Management for the year ended 31 December
2006 was US$84,316,000.
The aggregate amount set aside or accrued to
provide pension, retirement or similar benefits for
Directors and Senior Management for the year ended
31 December 2006 was US$2,862,389.
Executive Directors and members of Senior
Management are generally subject to notice periods
of up to 12 months and a normal retirement age
of 65.
The new UK pensions tax regime introduced by
the Finance Act 2004 means that the current pension
arrangements may cease to be tax effective for some
UK employees. The changes became effective on
6 April 2006. In anticipation of these changes, the