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62 Unilever Annual Report and Accounts 200562 Unilever Annual Report and Accounts 2005
Report of the Remuneration Committee
(continued)
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/lapsed in 2005 as shown in the table below:
Balance of Conditional award Conditional awards Balance of
conditional made 21 March 2005 lapsed 21 March 2005 conditional
shares (Performance period (Performance period shares at
at 1 January 2005 to 2007)(1) 2002 to 2004)(2) 31 December
2005 Market Original 2005
Share No. of No. of Price at No. of price price No. of
Name type shares shares award shares at vesting at award shares
Current Executive Directors
Patrick Cescau NV 12 895 7 890 €50.70 (3 737) €50.70 €66.90 17 048
PLC 87 306 54 960 505p (26 450) 505p 583p 115 816
Kees van der Graaf NV 7 739 4 931 €50.70 (2 243) €50.70 €66.90 10 427
PLC 52 376 34 352 505p (15 870) 505p 583p 70 858
Ralph Kugler(3) NV 10 427 10 427
PLC 70 858 70 858
Rudy Markham NV 12 895 4 931 €50.70 (3 737) €50.70 €66.90 14 089
PLC 87 306 34 352 505p (26 450) 505p 583p 95 208
Position changed in 2005
Antony Burgmans NV 20 634 (5 980) €50.70 €66.90 14 654(4)
PLC 139 680 (42 319) 505p 583p 97 361(4)
Former Executive Directors (2005)
Clive Butler NV 12 895 (3 737) €50.70 €66.90 9 158(4)
PLC 87 306 (26 450) 505p 583p 60 856(4)
Keki Dadiseth NV 12 895 (3 737) €50.70 €66.90 9 158(4)
PLC 87 306 (26 450) 505p 583p 60 856(4)
André van Heemstra NV 12 895 (3 737) €50.70 €66.90 9 158(4)
PLC 87 306 (26 450) 505p 583p 60 856(4)
(1) The end date of the performance period in respect of the conditional award made in 2005 is 31 December 2007.
(2) The conditional awards made in 2002, which vested in 2005 were based on the TSR performance of Unilever (when ranked against its
defined peer group) over the three-year performance period ending 31 December 2004. For this period, Unilever was ranked 13 out of its
peer group and therefore no vesting occurred for this award in March 2005 and the awarded shares of the award 2002 lapsed.
(3) Balance of conditional shares as from the date of appointment as Executive Director. Awards and vestings before are included in the balance.
(4) Stepped down as Executive Director in May 2005. Balance is at May 2005.
TSR ranking of Unilever shares against its defined peer group of companies for period 2003 to 2005
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 2003, 2004 and 2005.
Unilever’s position relative to the TSR reference group
2003 2004 2005
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.