Vodafone 2004 Annual Report Download - page 64

Vodafone Group Plc Annual Report 2004
62
Board’s Report to Shareholders on Directors’ Remuneration continued
The aggregate number of options granted during the year to the Company’s senior management, other than executive directors, is 11,058,407. The weighted average exercise price
of the options granted to senior management during the year is 119.25 pence. The earliest date from which they are exercisable is July 2006 and the latest expiry date is 29 July
2013. The weighted average exercise price of options granted to US-based senior management has been translated at the average exchange rate for the year of $1.6953: £1.
Further details of options outstanding at 31 March 2004 are as follows:
Exercisable Market price Exercisable Option price
greater than option price(1) greater than market price(1) Not yet exercisable
Weighted Weighted Weighted
average Latest average Latest average Earliest date
exercisable expiry Options exercise expiry Options exercise from which
Options held price date held price date held price exercisable
Number Pence Number Pence Number Pence
Sir Christopher Gent 9,294,123 97.0 Dec 04 15,893,264 208.9 Dec 04 –––
Arun Sarin 5,000,000 95.1 Jun 06 6,250,000 242.4 Jul 06 7,396,164 119.2 Jul 06
Peter Bamford 150,500 58.7 Jul 04 3,360,755 272.5 Jul 10 12,433,175 124.5 Jul 04
Vittorio Colao ––––– –5,762,813 108.8 Jul 04
Thomas Geitner –– –2,933,055 290.4 Jul 10 11,637,006 128.0 Jul 04
Julian Horn-Smith –– –3,136,455 280.4 Jul 10 16,057,234 124.4 Jul 04
Ken Hydon –– –3,235,255 279.8 Jul 10 12,155,975 123.9 Jul 04
14,444,623 34,808,784 65,442,367
Notes:
(1) Market price is the closing middle market price of the Company’s ordinary shares at 31 March 2004 of 128.75p.
(2) Some of Arun Sarin’s options are in respect of American Depositary Shares, each representing ten ordinary shares in the Company, which are traded on the New York Stock Exchange. The number and option price have been
converted into the equivalent amounts for the Company’s ordinary shares, with the option price being translated at the average exchange rate for the year of $1.6953: £1.
The Company’s register of directors’ interests (which is open to inspection) contains full details of directors’ shareholdings and options to subscribe. These options by exercise
price were:
Options held at
1 April 2003 Options Options Options lapsed Options
Option or date of granted during exercised during during held at
price appointment the year the year the year 31 March 2004
Pence Number Number Number Number Number
Vodafone Group Plc Executive Share Option Scheme (Approved – 1988)
Vodafone Group Plc Share Option Scheme (Unapproved – 1988)
Vodafone Group 1998 Company Share Option Scheme (Approved)
Vodafone Group 1998 Executive Share Option Scheme (Unapproved)
58.70 2,627,000 – 2,476,500 – 150,500
155.90 1,520,500 –––1,520,500
255.00 764,000 –––764,000
282.30 1,522,500 –––1,522,500
Vodafone Group Plc Savings Related Share Option Scheme (1988)
Vodafone Group 1998 Sharesave Scheme
70.92 50,126 –––
50,126
95.30 – 16,710 ––16,710
AirTouch Communications, Inc. 1993 Long Term Incentive Plan(1)
95.12 5,000,000 –––
5,000,000
Vodafone Group Plc 1999 Long Term Stock Incentive Plan
97.00 30,140,785 –––30,140,785
119.25 – 25,637,680 ––25,637,680
151.56 2,796,100 –––2,796,100
157.50 24,943,043 –––24,943,043
164.49 100,146 –––100,146
242.43 6,250,000 –––6,250,000
291.50 15,803,684 –––15,803,684
91,517,884 25,654,390 2,476,500 – 114,695,774
Note:
(1) These share options are in respect of American Depositary Shares, each representing ten ordinary shares in the Company, which are traded on the New York Stock Exchange. The number and option price have been converted
into the equivalent amounts for the Company’s ordinary shares, with the option price being translated at the average exchange rate for the year of $1.6953: £1.