Marks and Spencer 2002 Annual Report Download - page 41

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www.marksandspencer.com 39
11. Employees continued
E Executive Share Option Schemes
Under the terms of the current Scheme, approved by shareholders in 2000, the Board may offer options to purchase
ordinary shares in the Company to executive directors and senior employees at the market price on a date to be
determined prior to the date of the offer. No further options may be granted under the 1984, 1987 and 1997
Schemes. Outstanding options under each of the 1984 and 1987 Schemes continue to be bound by the Maximum
Option Value which is limited to four times remuneration on exercise (further details are set out in the Remuneration
Report on page 19). Outstanding options granted under all executive share option schemes are as follows:
Number of shares Option
Options granted 2002 20 01 price Option dates
(1984 Scheme)
May 1992 755,171 1,650,583 329p May 1995 – May 2002
May 1993 995,806 1,213,976 341p May 1996 – May 2003
October 1993 19,576 19,576 399p Oct 1996 – Oct 2003
May 1994 1,440,145 1,859,827 404p May 1997 – May 2004
October 1994 21,541 21,541 402p Oct 1997 – Oct 2004
May 1995 1,275,778 1,545,062 414p May 1998 – May 2005
May 1996 45,850 58,950 458p May 1999 – May 2006
November 1996 6,172 6,172 486p Nov 1999 – Nov 2006
June 1997 28,460 39,844 527p June 2000 – June 2007
(1987 Scheme)
May 1995 1,245,474 1,426,796 414p May 1998 – May 2002
May 1996 1,248,170 1,625,742 458p May 1999 – May 2003
November 1996 14,546 39,507 486p Nov 1999 – Nov 2003
June 1997 1,509,228 2,003,084 527p June 2000 – June 2004
(1997 Scheme – Tier 1)
June 1998 309,093 379,338 557p June 2001 – June 2008
November 1998 247,221 247,221 404p Nov 2001 – Nov 2008
June 1999 681,181 929,298 358p June 2002 – June 2009
November 1999 95,323 95,323 278p Nov 2002 – Nov 2009
January 2000 360,655 360,655 305p Jan 2003 – Jan 2010
March 2000 1,992,337 1,992,337 261p Mar 2003 – Mar 2010
June 2000 184,615 184,615 260p June 2003 – June 2010
(1997 Scheme – Tier 2)
June 1998 1,738,920 3,023,780 557p June 2003 – June 2008
November 1998 99,261 99,261 404p Nov 2003 – Nov 2008
June 1999 1,280,047 2,305,306 358p June 2004 – June 2009
November 1999 59,352 59,352 278p Nov 2004 – Nov 2009
January 2000 360,655 360,655 305p Jan 2005 – Jan 2010
March 2000 1,992,337 1,992,337 261p Mar 2005 – Mar 2010
June 2000 184,615 184,615 260p June 2005 – June 2010
(2000 Scheme +3%)
September 2000 3,191,827 4,209,681 215p Sept 2003 – Sept 2010
December 2000 574,358 574,358 195p Jan 2004 – Jan 2011
March 2001 270,641 323,393 218p Mar 2004 – Mar 2011
June 2001 6,490,703 – 256p June 2004 – June 2011
July 2001 168,674 – 249p July 2004 – July 2011
December 2001 1,286,778 – 350p Dec 2004 – Dec 2011
(2000 Scheme +4%)
September 2000 3,341,639 4,265,494 215p Sept 2003 – Sept 2010
December 2000 574,358 574,358 195p Jan 2004 – Jan 2011
March 2001 270,641 323,393 218p Mar 2004 – Mar 2011
June 2001 3,454,239 – 256p June 2004 – June 2011
July 2001 156,626 – 249p July 2004 – July 2011
December 2001 1,034,056 – 350p Dec 2004 – Dec 2011