Aviva 2009 Annual Report Download - page 117

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Performance review
Aviva plc Directors’ remuneration report continued
Corporate responsibility
Annual Report and Accounts 2009
Governance
Shareholder information
Financial statements IFRS
Financial statements MCEV
Other information
No former Directors received any increase in retirement benefits in excess of the amount to which they were entitled, on the later
of the date when the Benefits first became payable, or 31 March 1997.
Share incentive plans
Details of the EDs who were in office for any part of the financial year, and hold or held options to subscribe for ordinary shares of
the Company or hold or held awards over shares in the Company, pursuant to the Company’s share based incentive plans, are set
out in Table 20 below.
Savings related share options in Table 20 refer to options granted under the HMRC approved SAYE. Options are normally
exercisable during the six month period following the end of the relevant (three, five or seven year) savings contract.
Table 20: EDs’ options to subscribe for, or awards over, Company shares
Options Options Options At 31
granted exercised lapsing December Exercise
At 1 January during year during year during year 2009 Price
2009 Number number Number Number Number Pence Exercise Period
Mark Hodges
Savings related options 2007
1,705 — — — 1,705 563.0 December 2010 –
May 2011
Andrew Moss
Savings related options 2005
3,279 — — — 3,279 491.0 December 2010 –
May 2011
Philip Scott
Savings related options 2008
2,341 — — — 2,341 410.0 December 2011 –
May 2012
The mid-market price of an ordinary share in the Company on 31 December 2009, being the last business day of the year, was
397.9p, and the mid-market prices during the year ranged from 163.3p to 467.5p. During the year, no share options were
exercised by directors
(2008: nil options exercised) .
Directors’ interests in Aviva shares
The interests held by each person who was a director at the end of the financial year in the ordinary shares of 25 pence each in the
Company are shown in Table 21 below. All the disclosed interests are beneficial. The table also summarises the interests in shares
held through the Company’s various share incentive plans. Details of the options and long-term incentive awards are shown below.
Table 21: Directors’ interests in Aviva Shares
Shares1 ABP2 LTIP3 OATTV Plan4 Options5
1 January
2009
31 December
2009
1 January
2009
31 December
2009
1 January
2009
31 December
2009
1 January
2009
31 December
2009
1 January
2009
31 December
2009
Mary Francis
Richard Karl Goeltz
Mark Hodges
Andrea Moneta7
Andrew Moss
Carole Piwnica
Philip Scott
Lord Sharman
Leslie Van de Walle
Russell Walls
Scott Wheway
1,800
2,500
100,086
73
176,067
2,500
400,973
20,000
—
4,000
1,677
1,800
2,500
139,028
394
239,848
2,500
512,652
33,531
2,485
4,000
13,579
—
—
125,876
—
205,488
—
176,097
—
—
—
—
—
—
231,712
159,375
353,716
—
256,013
—
—
—
—
— —
— —
198,549 459,029
— 249,023
477,633 1,022,153
— —
343,028 599,469
— —
—
—
—
—
— —
— —
— —
41,838 145,759
— 119,531
93,567 289,443
— —
52,734 148,025
— —
—
—
—
—
— —
—
—
1,705
—
3,279
—
2,341
—
—
—
—
—
—
1,705
—
3,279
—
2,341
—
—
—
—
Notes
1. “Shares” are the directors’ beneficial holdings in the ordinary shares of the Company and in respect of the EDs include shares held in trust under the Company’s AESOP being shares purchased
by them under the partnership element and shares granted under the free share element.
2. ABP relates to entitlements to shares arising through the Aviva Annual Bonus Plan. Under these plans some of the earned bonuses are paid in the form of shares and deferred for three years.
The transfer of the shares to the director at the end of the period is not subject to the attainment of performance conditions but a proportion of the shares can be forfeited if the executive leaves
service before the end of the period.
3. Awards granted under the LTIP which vest only if the performance conditions are achieved.
4. OATTV Plan awards are granted as a match to the bonus plan awards under the ABP and vest only if the performance conditions are achieved.
5. “Options” are options over shares granted under the SAYE.
6. The interests of connected persons to the Directors are included in the Directors’ interests above.
7. Andrea Moneta was appointed as a director on 29 September 2009. On this date he held 394 shares, 159,375 bonus plan awards, 249,023 long term incentive awards, 119,531 OATTV Plan
awards and 0 options.
The following changes to directors’ interests which relate to shares acquired each month under the partnership element of the
AESOP during the period 1 January 2010 to 25 February 2010 have been reported to the Company.
Number
of shares
Governance
Philip Scott 64
Mark Hodges 63