Holiday Inn 2012 Annual Report Download - page 79

Download and view the complete annual report

Please find page 79 of the 2012 Holiday Inn 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.

Page out of 144

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144

OVERVIEW BUSINESS REVIEW GOVERNANCE
GROUP FINANCIAL
STATEMENTS
PARENT COMPANY
FINANCIAL STATEMENTS OTHER INFORMATION
Directors’ Remuneration Report 77
Special share award
Details of a special share award which vested during the year ended 31 December 2012 is set out below:
Value
based
on share
Market Shares Market price of
Award Awards price per vested price per Value at Awards Planned 1,707.0p at
held at during Award share at during Vesting share at vesting held at vesting 31 Dec 2012
Director 1 Jan 2012 the year date award the year date vesting £ 31 Dec 2012 date £
Tom Singer* 46,635 27.9.11 1,055.0p 46,635 26.9.12 1,630.0p 760,151
Total 46,635 – –
* As part of his recruitment terms, Tom Singer received a special share award to compensate for incentives forgone from his previous employer, which vested one year from
his appointment as a Director.
LTIP awards
The awards made in respect of cycles ending on 31 December 2011, 2012, 2013 and 2014 and the maximum pre-tax number of ordinary shares
due if performance targets are achieved in full are set out in the table below. In respect of the cycle ending 31 December 2011, 73.9% of the
award vested on 15 February 2012. In respect of the cycle ending on 31 December 2012, the Company outperformed the DJGH index in TSR
by 15 percentage points and achieved 21.7% per annum adjusted EPS growth. Accordingly, 100% of the award will vest on 20 February 2013.
Maximum
value
End of year Maximum based
to which Maximum LTIP LTIP Maximum on share
performance LTIP shares Market shares Market LTIP price of
is based awards awarded price per vested price per Value at awards 1,707.0p at
for award held at during Award share at during share at vesting Vesting held at 31 Dec 2012
Directors (31 Dec)1 1 Jan 2012 the year date award the year2 vesting £ date 31 Dec 2012 £
Richard Solomons 2011 173,096 3.4.09 604.0p 127,917 1,387.5p 1,774,848 15.2.12
2012 101,818 8.4.10 1,053.0p 20.2.13 101,818 1,738,033
2013 87,234 8.4.11 1,269.0p 19.2.14 87,234 1,489,084
2014 103,722 5.4.12 1,425.0p 18.2.15 103,722 1,770,535
Total 362,148 103,722 292,774 4,997,652
Kirk Kinsell 2011 132,256 3.4.09 604.0p 97,737 1,387.5p 1,356,101 15.2.12
2012 75,411 8.4.10 1,053.0p 20.2.13 75,411 1,287,266
2013 72,872 8.4.11 1,269.0p 19.2.14 72,872 1,243,925
2014 68,463 5.4.12 1,425.0p 18.2.15 68,463 1,168,663
Total 280,539 68,463 216,746 3,699,854
Tracy Robbins 2011 92,657 3.4.09 604.0p 68,473 1,387.5p 950,063 15.2.12
2012 55,873 8.4.10 1,053.0p 20.2.13 55,873 953,752
2013 55,248 8.4.11 1,269.0p 19.2.14 55,248 943,083
2014 59,270 5.4.12 1,425.0p 18.2.15 59,270 1,011,739
Total 203,778 59,270 170,391 2,908,574
Tom Singer 2012 69,952 27.9.11 1,055.0p 20.2.13 69,952 1,194,081
2013 78,696 27.9.11 1,055.0p 19.2.14 78,696 1,343,341
2014 77,684 5.4.12 1,425.0p 18.2.15 77,684 1,326,066
Total 148,648 77,684 226,332 3,863,488
Former Directors
Andrew Cosslett3 2011 226,834 3.4.09 604.0p 167,630 1,387.5p 2,325,866 15.2.12
2012 80,403 8.4.10 1,053.0p 20.2.13 80,403 1,372,479
2013 22,906 8.4.11 1,269.0p 19.2.14 22,906 391,005
Total 330,143 – 103,309 1,763,484
1 All details of performance targets in relation to the awards made in respect of cycles ending on 31 December 2012, 2013 and 2014 are provided on page 72.
2 This award was based on performance to 31 December 2011 where the performance measure related to both the Company’s TSR relative to the index and the cumulative
annual growth rate (CAGR) in adjusted EPS over the performance period. The Company outperformed the index in TSR by 7.9 percentage points and achieved 2.5% per
annum adjusted EPS growth. Accordingly, 73.9% of the award vested on 15 February 2012.
3 Andrew Cosslett retired as Chief Executive on 30 June 2011. Shares awarded to him in respect of cycles ending on 31 December 2011, 2012 and 2013 were pro-rated to reflect
his contractual service during the applicable performance periods.