HSBC 2008 Annual Report Download - page 329

327
Awards of Performance Shares
HSBC Share Plan
(Audited)
HSBC Holdings ordinary shares of US$0.50
Year in
Awards
held at
1 January
Awards made during
year or since date
appointed if later1
Awards vested during
year or since date
appointed if later2 Awards
Date of
award
which
awards
may vest
2008 or date
appointed
if later
Number
Monetary
value
Number
Monetary
value
held at 31
December
20083
£000 £000
V H C Cheng4 .................... 27 May 2005 2008 91,824 – – 47,002 405 –5
6 Mar 2006 2009 88,534 – – – – 92,689
5 Mar 2007 2010 172,636 – – – – 180,739
3 Jun 2008 2011 – 129,325 1,103 – – 130,852
D J Flint ............................. 27 May 2005 2008 194,796 – – 100,721 868 –5
6 Mar 2006 2009 175,296 – – – – 185,378
5 Mar 2007 2010 256,029 – – – – 270,755
3 Jun 2008 2011 – 372,940 3,182 – – 377,343
A A Flockhart6 ................... 27 May 2005 2008 779 – – 779 7 –5
6 Mar 2006 2009 66,401 – – – – 69,518
5 Mar 2007 2010 114,998 – – – – 120,395
3 Jun 2008 2011 – 127,174 1,085 – – 128,675
M F Geoghegan ................. 27 May 2005 2008 259,728 – – 134,295 1,157 –5
6 Mar 2006 2009 219,121 – – – – 231,724
5 Mar 2007 2010 581,884 – – – – 615,351
3 Jun 2008 2011 – 876,408 7,477 – – 886,755
S K Green .......................... 27 May 2005 2008 324,659 – – 167,868 1,446 –5
6 Mar 2006 2009 273,900 – – – – 289,653
5 Mar 2007 2010 436,413 – – – – 461,513
3 Jun 2008 2011 – 1,025,584 8,750 – – 1,037,692
S T Gulliver6 ...................... 27 May 2005 2008 1,559 – – 1,559 14 –5
6 Mar 2006 2009 110,667 – – – – 115,861
5 Mar 2007 2010 127,730 – – – – 133,725
3 Jun 2008 2011 – 55,409 473 – – 56,063
Vesting of these Performance Share awards is subject to the achievement of the corporate performance conditions set out on pages 318
to 319. Under the Securities and Futures Ordinance of Hong Kong, interests held through the HSBC Share Plan are categorised as the
interests of a beneficiary of a trust.
1 At the date of the award, 3 June 2008, the market value per share was £8.56. The shares acquired by the Trustee of the Plan were
purchased at an average price of £8.53173.
2 The Earnings Per Share element of the performance conditions was met and that element of the Performance Share Awards vested
on 1 April 2008, when the market value per share was £8.61, as follows: V H C Cheng, 45,911 shares; D J Flint, 98,382 shares,
M F Geoghegan, 131,176 shares; and S K Green, 163,970 shares. The awards held by A A Flockhart (32,794) shares, and S T Gulliver
(65,587) shares, who were appointed as Directors on 1 May 2008, also vested on 1 April 2008. Awards representing the fourth interim
dividend for 2007 vested on 7 May 2008, when the market value per share was £8.875, as follows: V H C Cheng, 1,091 shares;
D J Flint, 2,339 shares; A A Flockhart, 779 shares; M F Geoghegan, 3,119 shares; S K Green, 3,898 shares; and S T Gulliver, 1,559
shares. The market value per share on the date of the award, 27 May 2005, was £8.68.
3 Includes additional shares arising from scrip dividends.
4 Appointed a Director on 1 February 2008.
5 The Total Shareholder Return element of the performance conditions was not met and, under the terms of the Plan, that element of the
Performance Share awards held by: V H C Cheng, 45,913 shares; D J Flint, 98,383 shares; M F Geoghegan, 131,177 shares; and
S K Green, 163,971 shares was forfeited on 2 April 2008. The awards held by A A Flockhart, 32,795 shares; and S T Gulliver, 65,589
shares, who were appointed as Directors on 1 May 2008, were also forfeited on 2 April 2008. As a consequence, the fourth interim
dividend for 2007 did not accrue on the forfeited shares.
6 Appointed a Director on 1 May 2008.