National Grid 2008 Annual Report Download - page 626

BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 37875
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: 101
Description: EXHIBIT 15.1
0/6297.00.00.00Y59930BNY
[E/O] EDGAR 2 *Y59930/297/6*
BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 37875
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: 101 Description: EXHIBIT 15.1
0/6297.00.00.00Y59930BNY
[E/O] EDGAR 2 *Y59930/297/6*
Table of Contents
Annual Report and Accounts 2007/08
109
4. Directors’ interests in the PSP, DSP and SRA continued
PSP, DSP and SRA Awards Awards Awards Market price Conditional
Type of conditional awards lapsed vested granted at award Date of awards at Release
Table 4 award at 1 April 2007 during year in year during year (pence except
#
) award 31 March 2008 date
Steve Hollida
y
PSP 117,681 117,681
(i)
–
–
424.875 June 2004
–
–
PSP 100,801
–
–
–
527.03 June 2005 100,801 June 2009
PSP 126,788 – – – 591.5382 June 2006 126,788 June 2010
PSP
–
–
–
139,217 740.75 June 2007 139,217 June 2011
PSP
–
–
–
77,247
(ii)
800.9919 Nov 2007 77,247 Nov 2011
DSP 36,389
–
–
–
583.96 June 2006 36,389 June 2009
DSP – – – 42,435 726.87 June 2007 42,435 June 2010
Total 381,659 117,681
–
258,899 522,877
Bob Catell PSP
–
–
–
ADSs 17,084
(iii)
$83.3121
#
Nov 2007 ADSs 17,084 Nov 2011
Total ADSs
–
–
–
ADSs 17,084 ADSs 17,084
Steve Lucas PSP 116,210 116,210
(i)
–
–
424.875 June 2004
–
–
PSP 99,615 – – – 527.03 June 2005 99,615 June 2009
PSP 101,430
–
–
–
591.5382 June 2006 101,430 June 2010
PSP
–
–
–
84,930 740.75 June 2007 84,930 June 2011
PSP
–
–
–
47,125
(ii)
800.9919 Nov 2007 47,125 Nov 2011
DSP 34,882 – – – 583.96 June 2006 34,882 June 2009
DSP
–
–
–
29,276 726.87 June 2007 29,276 June 2010
Total 352,137 116,210
–
161,331 397,258
Nick Winser PSP 98,558 98,558
(i)
– – 424.875 June 2004 – –
PSP 91,314
–
–
–
527.03 June 2005 91,314 June 2009
PSP 88,751
–
–
–
591.5382 June 2006 88,751 June 2010
PSP
–
–
–
75,008 740.75 June 2007 75,008 June 2011
PSP – – – 41,620
(ii)
800.9919 Nov 2007 41,620 Nov 2011
DSP 31,316
–
–
–
583.96 June 2006 31,316 June 2009
DSP
–
–
–
25,596 726.87 June 2007 25,596 June 2010
Total 309,939 98,558 – 142,224 353,605
Mark Fairbairn PSP 47,072 47,072
(i)
–
–
424.875 June 2004
–
–
PSP 40,225
–
–
–
527.03 June 2005 40,225 June 2009
PSP 40,572
–
–
–
591.5382 June 2006 40,572 June 2010
PSP – – – 67,499 740.75 June 2007 67,499 June 2011
PSP
–
–
–
37,453
(ii)
800.9919 Nov 2007 37,453 Nov 2011
DSP 10,800
–
–
–
583.96 June 2006 10,800 June 2009
DSP
–
–
–
13,867 726.87 June 2007 13,867 June 2010
Total 138,669 47,072
–
118,819 210,416
Tom Kin
g
PSP
–
–
–
ADSs 24,006
(iii)
$83.3121
#
Nov 2007 ADSs 24,006 Nov 2011
SRA – – – ADSs 35,487
(iv)
$84.5360
#
Nov 2007 ADSs 35,487 Nov 2008
to Nov 2010
Total ADSs
–
–
–
ADSs 59,493 ADSs 59,493
Edward Astle PSP 110,326 110,326
(i)
– – 424.875 June 2004 – –
PSP 94,872
–
–
–
527.03 June 2005 94,872 June 2009
PSP 88,751
–
–
–
591.5382 June 2006 88,751 June 2010
PSP
–
–
–
74,249 740.75 June 2007 74,249 June 2011
PSP – – – 41,198
(ii)
800.9919 Nov 2007 41,198 Nov 2011
DSP 28,769
–
–
–
583.96 June 2006 28,769 June 2009
DSP
–
–
–
27,927 726.87 June 2007 27,927 June 2010
Total 322,718 110,326 – 143,374 355,766
(i) The performance condition was not satisfied at the end of the three year performance period for PSP awards granted in 2004. As a result, the awards have lapsed in full.
(ii) Due to shareholder approval being required to increase the maximum PSP award to Executive Directors, from 125% to 200% of salary, which could only be sought at the 2007 AGM, a
top up PSP award was made in November 2007.
(iii) Bob Catell and Tom King were appointed after the main June 2007 PSP award, therefore, they received full awards in November 2007. Awards were made over ADSs. Each ADS
represents five ordinary shares.
(iv) Tom King received a Special Retention Award as part of a contractual commitment made at the time of his recruitment. The award was made over ADSs. Each ADS represents five
ordinary shares. The award vests in equal parts over 3 years.