Tesco 2014 Annual Report Download - page 52

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Between22February2014and24April2014PhilipClarkeacquired71partnershipsharesundertheall-employeeShareIncentivePlan.
Therewerenootherchangesinshareinterests.
Share dealing policy
TescohasasharedealingpolicyinplaceforExecutiveDirectorsandformembersoftheExecutiveCommittee.Thispolicyprevents
ExecutiveDirectorsandExecutiveCommitteemembersandtheirconnectedpersonsdealinginsharesattimeswhenthiswouldbe
prohibitedbytheUKListingAuthority’sListingRules.Atalltimes,ExecutiveDirectorsandExecutiveCommitteemembersmustseek
advanceclearancebeforedealinginsharesontheirownbehalforinrespectoftheirconnectedpersons.
Share awards awarded during 2013/14
Thistablehasbeenaudited.
Plan Typeofaward
Dateof
awards
Numberof
shares Facevalue1
Threshold
vesting(%
ofscheme
interest)
Maximum
vesting(%
ofscheme
interest)
Performance
period
Dividend
shares
awardedin
year
Outstanding
awardsat
22February
2014
PhilipClarke
Performance
SharePlan
Nilcost
options
subjectto
performance
23July
2013
863,049 £3,148,748
0% 100%
24February
2013to
27February
2016
12,371 875,420
LaurieMcllwee 546,662 £1,994,442 7, 836 554,498
1  Facevaluehasbeencalculatedusingtheaveragemid-marketclosingsharepriceoverthefivedaysprecedingtheawardof364.84pwhichwasthesharepriceusedto
determinethenumberofsharessubjecttotheawardinaccordancewiththerules.
Thepercentageofawardvestingforawardsgrantedin2013isbasedonEPSgrowthandROCEasoutlinedbelow:
ROCE
EPSgrowthp.a.
Threshold Stretch
Targets 3% 10%
Stretch
15%
45%
Straight-line
vestingbetween
thesepoints
100%
Threshold
12%
0% 70%
Noawardsweregrantedduringtheyearunderthedeferredbonusplan.
Outstanding share awards subject to performance conditions
Awardsgrantedinpreviousyearswhichremainsubjecttoperformance
Director Dateofaward
Sharepriceon
award/grant
(pence)
Outstandingawards
23February2013
Dividendshares
awardedinyear
Outstandingawards
at22February2014 Performanceperiod
PhilipClarke
11July2011 407.19
791,946 36,052 8 27,998 27February2011
to
22February2014
LaurieMcllwee 501,872 22,847 524,719
PhilipClarke
30July2012 317.10
98 9,162 45,031 1,034,193 26February2012
to
28February2015
LaurieMcllwee 626,8 51 28,537 655,388
Theseawardsaregrantedintheformofnilcostoptionswithanexercisepriceof0p.Awardsvestonthethirdanniversaryofgrantandcan
normallybeexerciseduntilthetenthanniversaryofgrant.Followinghisresignationon2April2014,expirydatesforLaurieMcllwee’sawards
willbeearlierassetoutonpage51.
Performancetargetsforawardsgrantedin2011werenotmetandawardswilllapseinJuly2014.
Thepercentageofawardvestingforawardsgrantedin2012isbasedonEPSgrowthp.a.andROCE,asoutlinedbelow:
ROCE
EPSgrowthp.a.
Threshold Stretch
Targets 5% 12%
Stretch
14·6%
45%
Straight-line
vestingbetween
thesepoints
100%
Threshold
13·6%
20% 85%
Other information
Governance Financial statementsStrategic report
Tesco PLC Annual Report and Financial Statements 2014 49