Vodafone 2011 Annual Report Download - page 72

Download and view the complete annual report

Please find page 72 of the 2011 Vodafone annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 156

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156

70 Vodafone Group Plc Annual Report 2011
Directors’ interests in the shares of the Company
Long-term incentives
Performance shares
Conditional awards of ordinary shares made to executive directors under the Vodafone Global Incentive Plan (‘GIP’) for the relevant financial years are
shown below. Long-term incentive shares that vested during the year ended 31 March 2011 are also shown below:
Total interest
in performance Shares Shares
shares at conditionally forfeited Shares Total interest Market
1 April 2010 awarded during vested during in performance price at date
or date of during the 2011 the 2011 the 2011 shares at awards
appointment financial year(1) financial year(2) financial year(3) 31 March 2011(4) Total value(5) granted Vesting date
Number Number Number Number Number
of shares of shares of shares of shares of shares £’000 Pence
Vittorio Colao
2007 1,557,409 – (1,168,057) (389,352) – – 156.00 Jul 2010
2008 – Base award 4,126,587 – – – 4,126,587 7,283 129.95 Jul 2011
2008 – Match award 3,001,154 – – – 3,001,154 5,297 129.95 Jul 2011
2009 – Base award 4,564,995 – – – 4,564,995 8,057 117.20 Jun 2012
2009 – Match award 1,817,866 – – – 1,817,866 3,209 117.20 Jun 2012
2010 – Base award – 4,097,873 – – 4,097,873 7,233 142.94 Jun 2013
2010 – Match award – 2,980,271 – – 2,980,271 5,260 142.94 Jun 2013
Total 15,068,011 7,078,144 (1,168,057) (389,352) 20,588,746 36,339
Andy Halford
2007 1,190,305 – (892,729) (297,576) – – 156.00 Jul 2010
2008 – Base award 2,282,447 – – – 2,282,447 4,029 129.95 Jul 2011
2008 – Match award 2,074,952 – – – 2,074,952 3,662 129.95 Jul 2011
2009 – Base award 2,524,934 – – – 2,524,934 4,457 117.20 Jun 2012
2009 – Match award 1,676,756 – – – 1,676,756 2,959 117.20 Jun 2012
2010 – Base award – 2,154,750 – – 2,154,750 3,803 142.94 Jun 2013
2010 – Match award – 1,958,863 – – 1,958,863 3,457 142.94 Jun 2013
Total 9,749,394 4,113,613 (892,729) (297,576) 12,672,702 22,367
Michel Combes
2008 – Base award 2,589,782 – – – 2,589,782 4,571 129.95 Nov 2011
2008 – Match award 736,919 – – – 736,919 1,301 129.95 Nov 2011
2009 – Base award 2,771,771 – – – 2,771,771 4,892 117.20 Jun 2012
2009 – Match award 533,854 – – – 533,854 942 117.20 Jun 2012
2010 – Base award – 2,370,225 – – 2,370,225 4,183 142.94 Jun 2013
2010 – Match award – 1,144,116 – – 1,144,116 2,019 142.94 Jun 2013
Total 6,632,326 3,514,341 – – 10,146,667 17,908
Stephen Pusey
2007 491,325 – (368,494) (122,831) – – 156.00 Jul 2010
2008 – Base award 942,132 – – – 942,132 1,663 129.95 Jul 2011
2008 – Match award 500,844 – – – 500,844 884 129.95 Jul 2011
2009 – Base award 1,872,818 – – – 1,872,818 3,306 117.20 Jun 2012
2009 – Match award 510,879 – – – 510,879 902 117.20 Jun 2012
2010 – Base award – 1,693,018 – – 1,693,018 2,988 142.94 Jun 2013
2010 – Match award – 571,097 – – 571,097 1,008 142.94 Jun 2013
Total 4,317,998 2,264,115 (368,494) (122,831) 6,090,788 10,751
Notes:
(1) The awards were granted during the year under the Vodafone Global Incentive Plan using an average of the closing share prices on each of the five working days prior to 28 June 2010 being 142.9 pence.
These awards have a performance period running from 1 April 2010 to 31 March 2013. The performance conditions are a matrix of free cash flow performance and relative TSR. The vesting date will be
in June 2013.
(2) Shares granted on 24 July 2007 vested on 24 July 2010. The performance condition on these awards was a relative TSR measure against the companies making up the FTSE Global Telecoms index at
the start of the performance period. The threshold relative TSR performance target was met and as such shares vested at 25%. The share price on the vesting date was 151.5 pence.
(3) The share vesting gave rise to cash payments equal to the equivalent value of dividends over the vesting period. These cash payments equated to £91,484 for Vittorio Colao, £70,198 for Andy Halford
and £28,976 for Stephen Pusey.
(4) The total interest at 31 March 2011 includes awards over three different performance periods ending on 31 March 2011, 31 March 2012 and 31 March 2013. The performance conditions for the award
vesting in July 2011 are a matrix of free cash flow performance and relative TSR.
(5) The total value is calculated using the closing mid-market share price at 31 March 2011 of 176.5 pence.
The aggregate number of shares conditionally awarded during the year to the Executive Committee, other than the executive directors, was 9,276,317
shares. The performance and vesting conditions on the shares awarded in the year are based on a matrix of free cash flow performance and relative TSR.
Directors’ remuneration continued