Unilever 2014 Annual Report Download - page 34

PLAN BASIS OF AWARD MAXIMUM FAE
VALUE OF
AWARDS
THRESHOLD
VESTIN (% OF
TARET AWARD)
PERFORMANE
PERIOD
DETAILS OF
PERFORMANE
MEASURES
SIP
ondtonal
share award
made on 14
February 2014
The EO receved a
target award of 200%
of base salary
EO
PL – 43,700
NV – 43,700
The FO receved a
target award of 175%
of base salary
FO
PL – 27,031
NV – 27,031
Maxmum vestng
results n 200% of
target awards vestng,
whch translates to a
maxmum vestng of
400% of base salary for
the EO and 350% of
base salary for the FO
EO
£4,007,095(b)
FO
£2,478,622(b)
As opposte As opposte As opposte
(a) Under MIP, Executve Drectors are able to choose whether they nvest n PL or NV shares or a 50/50 mx Executve Drectors receve a correspondng
number of performance-related matchng shares Matchng shares wll be awarded n the same form as the nvestment shares (e n PL or NV shares or a
50/50 mx) On 14 February 2014, the EO nvested 60% (£949,905) and the FO nvested 25% (£186,533) of ther 2013 bonus n MIP nvestment shares The
EO elected to nvest fully n NV shares The FO elected to receve a 50/50 mx of PL/NV shares
(b) The face values ncluded n ths table are calculated by multplyng the number of shares granted on 14 February 2014 by the share prce on that day of PL
£2349 and NV 2770 respectvely, assumng maxmum performance and therefore maxmum vestng of 200% for SIP and 150% for MIP and then
translatng nto sterlng usng an average exchange rate over 2014 of 1 = £08071
(c) The actual targets for the three busness-focused performance measures for the 2014 MIP and SIP awards have not been dsclosed up front as the Boards
deem ths to be commercally senstve nformaton as targets could reveal nformaton about Unlever’s busness plan and budgetng process to compettors,
whch could be damagng to Unlever’s busness nterests and therefore to shareholders Targets wll be dsclosed n the Drectors’ Remuneraton Report
followng the end of the relevant performance perod
MINIMUM SHAREHOLDIN REQUIREMENT AND EXEUTIVE DIRETOR SHARE INTERESTS (UNAUDITED)
The table below shows the Executve Drectors’ share ownershp aganst the mnmum shareholdng requrements as at 31 December
2014 and the nterest n NV and PL ordnary shares of Executve Drectors and ther connected persons as at 31 December 2014
When calculatng an Executve Drector’s personal shareholdng the followng methodology s used
• Base salary at the date of measurement
• Shares n ether Unlever PL or Unlever NV (or a combnaton of both) wll qualfy provded they are personally owned by the
Executve Drector or by a member of hs (mmedate) famly (‘connected person’)
• Shares purchased under the MIP from the annual bonus wll qualfy as from the moment of purchase as these are held
n the ndvdual’s name and are not subect to further restrctons
• Shares acqured under a restrcted stock arrangement wll qualfy on a net of tax bass
• Shares awarded on a condtonal bass by way of the SIP, or the MIP, wll not qualfy untl the moment of vestng (e once the
precse number of shares s fxed after the three-year vestng perod has elapsed)
• The shares wll be valued on the date of measurement, or f that outcome fals the personal shareholdng test, on the date of acquston
The share prce for the relevant measurement date wll be based on the average closng share prces and the euro/sterlng/US dollar
exchange rates from the 60 calendar days pror to the measurement date
Executve Drectors are requred to hold shares to the value of 100% of ther shareholdng requrement for 12 months post cessaton
of employment at Unlever, and 50% of these shares for 24 months post cessaton of employment wth Unlever
All ULE members are requred to buld a shareholdng of 300% of base salary Ths requrement s 150% of base salary for the ‘Top 100’
management layer below ULE
EXEUTIVE DIRETORS’ INTERESTS IN SHARES AND SHARE OWNERSHIP (AUDITED)
Share ownershp
gudelne as % of
base salary
Have gudelnes
been met
Actual share
ownershp (as a %
of base salary)(a)
Shares held as at
1 January 2014(b)
Shares held as at
31 December 2014(b)
NV PLNV PL
EO Paul Polman 400 yes 2004 310,572 266,546 486,191 287,296
FO Jean-Marc Hut 300 yes 871 86,620 86,853 118,050 118,559
(a) alculated based on the mnmum shareholdng requrements and methodology set out above and the base salares as ncluded for the EO and FO n the sngle fgure
(b) NV shares are ordnary 016 shares and PL shares are ordnary 39p shares
71Unilever Annual Report and Accounts 2014 Governance