National Grid 2008 Annual Report Download - page 624

BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 7279
Name: NATIONAL GRID
Date: 17-JUN-2008 03:10:51.35Operator: BNY99999TPhone: [phone]Site: BOWNE OF NEW YORK
Y59930.SUB, DocName: EX-15.1, Doc: 16, Page: 99
Description: EXHIBIT 15.1
0/7295.00.00.00Y59930BNY
[E/O] EDGAR 2 *Y59930/295/7*
BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 7279
Name: NATIONAL GRID
Date: 17-JUN-2008 03:10:51.35Operator: BNY99999TPhone: [phone]Site: BOWNE OF NEW YORK
Y59930.SUB, DocName: EX-15.1, Doc: 16, Page: 99 Description: EXHIBIT 15.1
0/7295.00.00.00Y59930BNY
[E/O] EDGAR 2 *Y59930/295/7*
Table of Contents
Annual Report and Accounts 2007/08
107
3. Directors’ interests in share options
The table below gives details of the Executive Directors’ holdings of share options awarded under the Executive Share Option
Plan (ESOP), the Share Matching Plan (Share Match) and Sharesave schemes.
Options Market price
exercised or at end of Exercise price
Options held at lapsed during exercise Options granted Options held at per share
Table 3 1 April 2007 the year (pence) during the year 31 March 2008 (pence) Normal exercise period
Steve Hollida
y
ESOP 67,497
–
–
–
67,497 481.5 June 2005 to June 2012
Share Match 10,350 – – – 10,350 100 in total June 2005 to June 2012
14,083
–
–
–
14,083 100 in total June 2006 to June 2013
18,713
–
–
–
18,713 nil Ma
y
2007 to Ma
y
2014
9,983
–
–
–
9,983 nil June 2008 to June 2015
Sharesave 4,692 – – – 4,692 350 Mar 2008 to Aug 2008
–
–
–
2,564 2,564 655 A
p
r 2013 to Se
p
2013
Total 125,318
–
2,564 127,882
Steve Lucas
ESOP 54,404 – – – 54,404 434.25 Dec 2005 to Dec 2012
Share Match 16,909 16,909
(i)
742
–
–
nil Ma
y
2007 to Ma
y
2014
14,778
–
–
–
14,778 nil June 2008 to June 2015
Sharesave 1,693
–
–
–
1,693 558 A
p
r 2010 to Se
p
2010
Total 87,784 16,909
–
70,875
Nick Winser
ESOP 19,755
–
–
–
19,755 531.5 June 2003 to June 2010
Share Match 14,059 14,059
(ii)
751
–
–
nil Ma
y
2007 to Ma
y
2014
11,581
–
–
–
11,581 nil June 2008 to June 2015
Total 45,395 14,059
–
31,336
Mark Fairbairn
ESOP 8,649 8,649
(iii)
700.18
–
–
375.75 June 2001 to June 2008
2,180
–
–
–
2,180 435.75 Jul
y
2002 to Jul
y
2009
33,489 – – – 33,489 531.5 June 2003 to June 2010
31,152
–
–
–
31,152 481.5 June 2005 to June 2012
Share Match 4,897 4,897
(iii)
743.5
–
–
nil Ma
y
2007 to Ma
y
2014
2,134
–
–
–
2,134 nil June 2008 to June 2015
Sharesave 833 833 739 – – 397 Sep 2007 to Feb 2008
862
–
–
–
862 383 A
p
r 2010 to Se
p
2010
1,760
–
–
–
1,760 558 A
p
r 2012 to Se
p
2012
–
–
–
512 512 655 A
p
r 2013 to Se
p
2013
Total 85,956 14,379 512 72,089
Edward Astle
ESOP 67,497
–
–
–
67,497 481.5 June 2005 to June 2012
131,086 131,086
(iv)
–
–
–
400.5 June 2006 to June 2013
Share Match 6,553 – – – 6,553 100 in total June 2005 to June 2012
13,812
–
–
–
13,812 100 in total June 2006 to June 2013
15,716
–
–
–
15,716 nil Ma
y
2007 to Ma
y
2014
14,637
–
–
–
14,637 nil June 2008 to June 2015
Total 249,301 131,086
–
118,215
(i) Steve Lucas exercised a Share Match award over 16,909 shares. The market price at the date of exercise was 742p. He also received £13,634.91 in respect of a cash payment in lieu of
dividends.
(ii) Nick Winser exercised a Share Match award over 14,059 shares. The market price at the date of exercise was 751p. He also received £12,031.79 in respect of a cash payment in lieu of
dividends.
(iii) Mark Fairbairn exercised an Executive Share Option over 8,649 shares. The market price at the date of exercise was 700.18p. He also exercised a Share Match award over 4,897 shares,
the market price at the date of exercise for which was 743.5p. He received £4,379.13 in respect of a cash payment in lieu of dividends for the Share Match award.
(iv) The performance condition for the Executive Share Option granted in 2003 to Edward Astle over 131,086 shares was not satisfied at the end of the first three years of the performance
period. It has subsequently been re-tested on 31 March 2007 and 31 March 2008; and the performance condition has not been satisfied. As a result the option has lapsed in full.