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Remuneration Committee Report Aer Lingus Group Plc – Annual Report 2009
Table 2.2 Pension
Increase in
accrued benefit
during 2009
Transfer value
of increase
Total accumulated
accrued benefit
at year-end
€’000 €’000 €’000
Executive directors
Dermot Mannion 2 68 13
Table 2.3 Interest of Directors in office at 31 December 2009 in the shares of the Group
31 December 2009 1 January 2009*
Number of shares Number of shares
Colm Barrington 60,000 –
David Begg 500 500
Leslie Buckley 65,000 –
Sean Coyle 18,000 –
Thomas Corcoran 8,800 8,800
Laurence Crowley – –
Ivor Fitzpatrick 14,317 14,317
Danuta Gray 23,863 23,863
Francis Hackett 9,544 9,544
Colin Hunt 5,000 5,000
Michael Johns 4,772 4,772
Anne Mills 18,942 8,942
Thomas Moran 20,000 20,000
Christoph Mueller 50,000 –
* Or date of appointment if later
There was no change in the Directors’ interests in the period between 31 December 2009 and 27 April 2010, except that on 31 March 2010
Mr Colm Barrington acquired an additional 60,000 shares. Mr Barrington’s interest in shares of the Group as at 27 April 2010 is 120,000.
(1) On 17 April 2009, Mr Sean Coyle was granted conditional awards of 152,709 shares under the LTIP in respect of the vesting period
1 January 2008 to 31 December 2010. Any vesting of these shares is subject to the achievement of the performance targets outlined
in the LTIP and the rules of the LTIP.
(2) On 15 May 2009, Mr Sean Coyle was granted conditional awards of 436,497 shares under the LTIP in respect of the vesting period
1 January 2009 to 31 December 2011, resulting in total holdings of conditional awards under the LTIP of 589,206 shares. Any vesting
of these shares is subject to the achievement of the performance targets outlined in the LTIP and the rules of the LTIP.
(3) On 8 September 2009, Mr Christoph Mueller was granted share options in respect of 1,500,000 shares. Subject to achieving the conditions
specified in the Share Option Deed, the exercise price of the share options is as follows: The exercise price in respect of the options over
500,000 shares which may become exercisable on or after the 7 September 2012 is 110% of €0.521 per share (being the average closing
share price on the five days prior to the date of grant); the exercise price in respect of the options over 500,000 shares which may become
exercisable on or after the 7 September 2013 is 130% of €0.521 per share (being the average closing share price on the five days prior
to the date of grant) and the exercise price in respect of the options over 500,000 shares which may become exercisable on or after
the 7 September 2014 is 170% of €0.521 per share (being the average closing share price on the five days prior to the date of grant).
(4) On 8 September 2009, Mr Christoph Mueller was granted a conditional award in respect of 500,000 shares. The shares, which are the
subject of the share award, will vest on 1 September 2011 subject to Mr Mueller remaining in the employment of the group on that date.