Tesco 2011 Annual Report Download - page 95

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Table 9 – Executive Incentive Plan continued
1 The awards are subject to performance conditions based on earnings per share, TSR and corporate objectives. Awards are increased to reflect dividend equivalents as each dividend is paid.
2 Tim Mason’s awards have been made in the form of an unfunded promise.
3 No options lapsed in the year under the Executive Incentive Plan. Directors exercised EIP awards as follows:
Director Date
Price
(pence)
Options
exercised
Value
realisable
Richard Brasher 24.05.10 399.975 156,084 624
20.07.10 394.025 3,670 14
Philip Clarke 24.05.10 399.975 98,773 395
20.07.10 394.025 2,322 9
Andrew Higginson 24.05.10 399.975 98,773 395
20.07.10 394.025 2,322 9
Sir Terry Leahy 24.05.10 399.975 293,296 1,173
20.07.10 394.025 6,896 27
Director Date Price (pence)
Options
exercised
Value
realisable
Tim Mason 24.05.10 399.975 190,259 761
20.07.10 394.025 4,473 18
Lucy Neville-Rolfe 24.05.10 399.975 79,815 319
20.07.10 394.025 1,876 7
David Potts 24.05.10 399.975 98,773 395
20.07.10 394.025 2,322 9
Table 10 – Directors’ interests in the Long-Term Incentive Plan
Award date
Price on
award
(pence)
Number of
shares as at
27 February
2010
Shares
awarded
Shares
released
Number of
shares as at
26 February
2011
Share price
on release
(pence)
Value
realisable
£000 Release date
Laurie McIlwee124.05.07 456º.63 35,851 730 36,581 –399.975 146 24.05.10
21.05.08 415.45 38,107 1,192 – 39,299 – – 21.05.11
20.05.09 356.05 47,336 1,481 – 48,817 – – 20.05.12
Total 121,294 3,403 36,581 88,116 146
1 Bonus shares shown for Laurie McIlwee were awarded under the senior management bonus scheme before he joined the Board.
Table 11 – Disclosable interests of the Directors, including family interests
26 February 2011 (or last date
of employment if earlier)
27 February 2010 (or on
appointment if later)
Ordinary
shares1
Options
to acquire
ordinary
shares2
Ordinary
shares1
Options
to acquire
ordinary
shares2
Executive Directors
Richard Brasher 1,220,793 2,906,992 1,186,704 2,044,136
Philip Clarke 1,824,638 3,491,697 1,811,821 2,849,105
Andrew Higginson 1,349,712 3,491,697 1,586,895 2,849,105
Sir Terry Leahy 7,075,849 9,353,645 7,806,736 10,639,425
Tim Mason 3,876,520 1,545,829 4,134,570 1,159,489
Laurie McIlwee 222,301 1,483,050 237,241 743,466
Lucy Neville-Rolfe 452,886 2,067,219 443,091 1,417,358
David Potts 1,851,253 2,927,209 2,559,979 2,849,105
Non-executive Directors
Charles Allen3– – – –
Gareth Bullock4– – – –
Patrick Cescau – – – –
Stuart Chambers45,500 – 5,500 –
Rodney Chase3– – – –
Karen Cook – – – –
Harald Einsmann3355,984 – 355,984 –
Ken Hanna – – –
Ken Hydon 30,093 – 30,093 –
David Reid 194,337 – 194,080 –
Jacqueline Tammenoms Bakker – – – –
Total 18,459,866 27,267,338 20,352,694 24,551,189
1 Ordinary shares shown in this table include restricted shares held by Laurie McIlwee under the Performance Share Plan and Long Term Incentive plan shown in table 6 and table 10,
shares held under a promise by Tim Mason under the Performance Share Plan shown in table 6, the US Long Term Incentive Plan shown in table 8 and the Executive Incentive Plan
shown in table 9 and shares held under the all employee Share Incentive Plan.
2 Options to acquire ordinary shares shown in this table comprise options held under the Executive Share Option schemes and Discretionary Share Option Plan shown in table 4, Save As
You Earn scheme shown in table 5 and nil cost options held under the Performance Share Plan, Executive Incentive Plan and Group New Business Incentive Plan shown in tables 6, 9
and 7 respectively.
3 Charles Allen, Rodney Chase and Harald Einsmann retired from the Board on 2 July 2010.
4 Gareth Bullock and Stuart Chambers were appointed to the Board on 3 July 2010.
5 Between 26 February 2011 and 28 April 2011, 330 shares were purchased by Executive Directors as part of the Buy As You Earn scheme. Buy As You Earn is an HMRC approved share
purchase scheme under which employees invest up to a limit of £110 on a four-weekly basis to buy shares in Tesco PLC at the market value. There have been no other changes in
Directors’ interests at the date of the publication of this Report.
Overview Business review Governance Financial statements
TESCO PLC Annual Report and Financial Statements 2011
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