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62 Tesco PLC Annual Report and Financial Statements 2013
Directors’ remuneration report continued
Table 4 Gains on share options and share options held by Directors and not exercised at 23 February 2013
Savings-related share option scheme (1981)
Date of grant
As at
25 February
2012
Options
granted
in year
Options
exercised
in year
Options
lapsed
in year
As at
23 February
2013
Exercise price
(pence)
Value
realisable
2012/13
£000
Value
realisable
2011/12
£000
Richard Brasher 07.11.2007 819 – – – 819 410.0 – –
05.11.2008 1,077 – – – 1,077 311.0 – –
11.11.200 9 948 – – – 948 328.0 – –
10.11.2010 788 – – – 788 386.0 – –
16.11.2011 824 – – – 824 364.0 – –
4,456 – – – 4,456 – 1
Philip Clarke 07.11.2007 819 – – – 819 410.0 – –
05.11.2008 1,077 – – – 1,077 311.0 – –
11.11.200 9 948 – – – 948 328.0 – –
10.11.2010 788 – – – 788 386.0 – –
16.11.2011 824 – – – 824 364.0 – –
07.11.2012 –1,063 – – 1,063 282.0 – –
4,456 1,063 – – 5,519 – 1
Andrew Higginson 07.11.2007 819 – – – 819 410.0 – –
05.11.2008 1,077 – – – 1,077 311.0 – –
11.11.200 9 948 – – 948 –328.0 – –
10.11.2010 788 – – 788 –386.0 – –
3,632 – – 1,736 1,896 – 1
Tim Mason 07.11.2007 819 – – 819 –410.0 – –
05.11.2008 1,077 – – 1,077 –311.0 – –
11.11.200 9 948 – – 948 –328.0 – –
10.11.2010 788 – – 788 –386.0 – –
16.11.2011 824 – – 824 –364.0 – –
07.11.2012 –1,063 –1,063 –282.0 – –
4,456 1,063 –5, 519 –– 1
Laurie McIlwee 07.11.2007 819 – – – 819 410.0 – –
05.11.2008 1,077 – – – 1,077 311.0 – –
11.11.200 9 948 – – – 948 328.0 – –
10.11.2010 788 – – – 788 386.0 – –
16.11.2011 824 – – – 824 364.0 – –
07.11.2012 –1,063 – – 1,063 282.0 – –
4,456 1,063 – – 5,519 – –
Lucy Neville-Rolfe 07.11.2007 819 – – – 819 410.0 – –
05.11.2008 1,077 – – – 1,077 311.0 – –
11.11.200 9 948 – – – 948 328.0 – –
10.11.2010 788 – – – 788 386.0 – –
16.11.2011 824 – – – 824 364.0 – –
4,456 – – – 4,456 – 1
Total 25,912 3,189 –7, 255 21,846
Save As You Earn Scheme
• Save As You Earn is an HMRC approved all-employee savings-related share option scheme under which employees save up to a limit of £250 on a four-weekly basis via a bank/
building society with an option to buy shares in Tesco PLC at the end of a three-year or five-year period at a discount of up to 20% of the market value.
Option exercises and lapses
• Options are not subject to performance conditions. All options are exercisable from 1 February in the year which is six years from the year of grant. All options expire six months
from their exercise date (i.e. on 1 August of the relevant year).
Leaving provisions
• Where a Director ceased to be a Director of Tesco PLC in the year, the figures in this table are at the date on which they ceased to be a Director of Tesco PLC.
• Richard Brasher stepped down from the Board on 15 March 2012. His options lapsed on leaving the Company on 31 July 2012.
• Andrew Higginson retired from the Board on 1 September 2012. His options granted in 2009 and 2010 lapsed on leaving the Company on 1 September 2012. His 2007 and 2008
options may be exercised with the savings available at the point of leaving.
• Tim Mason stepped down from the Board on 5 December 2012. All his options lapsed on leaving the Company on 5 December 2012.
• Lucy Neville-Rolfe retired from the Board on 2 January 2013. Her options may be exercised with the savings available at the point of leaving.