Lenovo 2013 Annual Report Download - page 78

Download and view the complete annual report

Please find page 78 of the 2013 Lenovo 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 188

  • 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
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178
  • 179
  • 180
  • 181
  • 182
  • 183
  • 184
  • 185
  • 186
  • 187
  • 188

COMPENSATION COMMITTEE REPORT
Lenovo Group Limited 2012/13 Annual Report
76
LONG-TERM INCENTIVE SCHEMES
The Company implemented share option scheme and the LTI Program to attract, retain, reward and motivate Executive
and Non-executive Directors, senior management and selected top-performing employees of the Company and its
subsidiaries.
Share Option Scheme
At an extraordinary general meeting of the Company held on March 25, 2002, the shareholders of the Company approved
the adoption of a new share option scheme (the “New Option Scheme”) and termination of the share option scheme that
was adopted on January 18, 1994.
Pursuant to the terms of New Option Scheme, the New Option Scheme shall be valid and effective for a period of 10 years
commencing on the adoption date and expiring on the tenth anniversary of the adoption date. Accordingly, the New Option
Scheme had been expired on April 26, 2012, and no further options could thereafter be granted under the New Option
Scheme. However, all remaining provisions will remain in full force and effect to govern the exercise of all the options
granted under the New Option Scheme prior its expiration. Further details of the New Option Scheme are set out in the
Directors’ Report on pages 101 to 102.
Details of the movement of the share options of the Company during the year ended March 31, 2013 were as follows:
Number of share options
Category of participants
Held at
April 1,
2012
Exercised
during
the year
Lapsed
during
the year
Held at
March 31,
2013
Exercise
price Grant date Exercise period
(HK$) (mm. dd. yyyy) (mm. dd. yyyy)
Continuous contract 6,462,000 1,080,000 5,382,000 – 2.435 10.10.2002 10.10.2002 to 10.09.2012
employees 20,326,000 4,838,000 – 15,488,000 2.245 04.26.2003 04.26.2003 to 04.25.2013
57,379,051 8,928,000 – 48,451,051 2.545 04.27.2004 04.27.2004 to 04.26.2014
Other participants 6,964,000 4,110,000 2,854,000 – 2.435 10.10.2002 10.10.2002 to 10.09.2012
1,530,000 1,530,000 – – 2.245 04.26.2003 04.26.2003 to 04.25.2013
Notes:
1. Weighted average closing price of the listed ordinary shares of the Company immediately before the dates on which the options were exercised by
continuous contract employees was HK$7.689.
2. Weighted average closing price of the listed ordinary shares of the Company immediately before the dates on which the options were exercised by
other participants was HK$6.624.
3. No share options are granted and/or cancelled under the New Option Scheme during the year.
4. The accounting policy adopted for the New Option Scheme is set out in note 2(x)(iv) to the financial statements. Other details are set out in note 30(b)
to the financial statements.