Vodafone 1999 Annual Report Download - page 44

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Remuneration Report of the Board
Savings related schem e
142.0 9,714 – – 9,71 4
186.0 3,708 – – 3,70 8
193.0 5,362 – – 5,36 2
240.0 8,625 – – 8,62 5
635.5 – 1,534 – 1 ,534
__________ __________ __________ __________
2,105,009 305,634 929,100 1,4 81,543
__________ __________ __________ __________
Note
D Channing Williams retired as a director on 31 March 1999 at which date he held options under the discretionary approved and unapproved share option schemes over
316,300 shares, with a weighted average exercise price of £4.19, and options under the savings related scheme over 9,519 shares with a weighted average exercise price of
£1.81.
Options granted at market value under the executive scheme or the unapproved scheme may not be exercised unless,
between the date of grant and the date of first vesting (three years after the date of grant), there has been real growth in the
earnings per share of the Company and options granted at a discount to market value may not be exercised unless the
growth in the earnings per share of the Company, in the same period, exceeds the growth in the Index of Retail Prices by 2
per cent.
Under the executive scheme and the unapproved scheme in the year to 31 March 1999, the following options were
exercised by directors of the Company:
Options exercised Option Market price Gross
during the price at date of pre-tax
year ( p) exercise ( p) gain ( £)
C C Gent 46,800 146.3 919.5 361,842
15,600 124.7 919.5 123,994
154,500 176.3 779.0 931,120
235,500 166.3 779.0 1,442,830
30,600 233.5 919.5 209,916
120,000 198.5 919.5 865,200
__________ __________
603,000 3,934,902
__________ __________
J M Horn-Smith 115,800 166.3 835.0 774,316
1,500 141.7 835.0 10,400
__________ __________
117,300 784,716
__________ __________
K J Hydon 28,800 146.3 835.0 198,336
9,600 124.7 835.0 68,192
137,400 176.3 835.0 905,008
33,000 166.3 835.0 220,660
__________ __________
208,800 1,392,196
__________ __________
D Channing Williams 92,100 233.5 820.0 540,167
50,100 198.5 820.0 311,372
__________ __________
142,200 851,539
__________ __________
The aggregate gross, pre-tax gains made on the exercise of share options in the year by the Company’s directors was
£6,963,353 (1998 – £3,344,769).
The closing middle market price of Vodafone Group Plc’s shares at the year end was 1151p, its highest closing price in the
year having been 1225.5p and its lowest closing price having been 551p.
Long Term Incentive Plan
http://www.vodafone.com/download/investor/reports/annual99/remuneration_report_of_the_board.htm (5 of 7)30/03/2007 00:09:24