Unilever 2004 Annual Report Download - page 83

Remuneration report
Details – Executive Directors (continued)
80 Unilever Annual Report and Accounts 2004
Executive Directors’ conditional share awards under the TSR Long-Term Incentive Plan
Conditional rights to ordinary shares in NV and PLC were outstanding, granted or vested in 2004 as shown in the table below.
Balance of Conditional awards Conditional awards Balance of
conditional made 24 March 2004 vested 9 May 2004 conditional
shares (Performance period (Performance period shares
at 1 Jan 2004 to 2006)(1) 2001 to 2003)(2) at 31 Dec
2004 Market Original 2004
Share No. of No. of Price at No. of price price No. of
type shares shares award shares at vesting at award shares
A Burgmans NV 19 712 7 394 €54.10 6 472 €54.5665 €61.80 20 634
PLC 136 877 51 163 519.50p 48 360 522.8108p 517p 139 680
P J Cescau NV 12 319 4 621 €54.10 4 045 €54.5665 €61.80 12 895
PLC 85 552 31 979 519.50p 30 225 522.8108p 517p 87 306
A C Butler NV 12 319 4 621 €54.10 4 045 €54.5665 €61.80 12 895
PLC 85 552 31 979 519.50p 30 225 522.8108p 517p 87 306
K B Dadiseth NV 12 319 4 621 €54.10 4 045 €54.5665 €61.80 12 895
PLC 85 552 31 979 519.50p 30 225 522.8108p 517p 87 306
C J van der Graaf NV 7 739(3) 7 739
PLC 52 376(3) 52 376
A R van Heemstra NV 12 319 4 621 €54.10 4 045 €54.5665 €61.80 12 895
PLC 85 552 31 979 519.50p 30 225 522.8108p 517p 87 306
R H P Markham NV 12 319 4 621 €54.10 4 045 €54.5665 €61.80 12 895
PLC 85 552 31 979 519.50p 30 225 522.8108p 517p 87 306
N W A FitzGerald NV 19 712 6 472 €54.5665 €61.80 13 240(4)
PLC 136 877 48 360 522.8108p 517p 88 517(4)
C B Strauss NV(5) 9 846 3 223 $64.82 $54.89 6 623(7)
PLC(6) 67 896 23 580 $9.405 $7.50 44 316(7)
(1) The end date of the performance period in respect of the conditional award made in 2004 is 31 December 2006.
(2) The performance period of the conditional award which vested on 9 May 2004 was 1 January 2001 to 31 December 2003. During this
period Unilever was ranked position 6 out of 21 on comparison with its peer group of 20 comparator companies with the result that 100%
of the conditional award made in May 2001 vested in May 2004. The current Executive Directors did not cash in the value of these shares
on vesting but retained, at least, the net profit (after tax) in the form of shares in NV and PLC.
(3) Balance of conditional shares as from date of appointment as Executive Director. Awards and vestings before appointment are included in
the balance.
(4) Retired from the Boards on 30 September 2004. Balance is at date of retiring from the Boards.
(5) NV New York shares.
(6) The award was made in the form of American Depositary Receipts (1 ADR equivalent to 4 PLC shares).
(7) Retired from the Boards on 12 May 2004. Balance is at date of retiring from the Boards.
TSR ranking of Unilever shares against its defined peer group of companies for period 2002 to 2004
The following graph shows Unilever’s position relative to the TSR peer group of companies for each of the three performance periods
ending 31 December 2002, 2003 and 2004.
Unilever’s position relative to the TSR reference group
2002 2003 2004
7
14
21
The reference group, including Unilever, consists of 21 companies. Unilever’s position is
based on TSR over a three-year rolling period.
As may be seen from the graph Unilever was ranked position 13
out of 21 on comparison with its peer group of 20 comparator
companies during the period 1 January 2002 to 31 December
2004. Therefore none of the conditional rights in NV and PLC
shares awarded in March 2002 under the TSR LTIP plan will vest
in 2005.