Aviva 2009 Annual Report Download - page 203

201
Performance review
Aviva plc Notes to the consolidated financial statements continued
Corporate responsibility
Annual Report and Accounts 2009
Governance
Shareholder information
Financial statements IFRS
Financial statements MCEV
Other information
29 – Equity compensation plans continued
Aviva Executive Option price Number Normally
Share Option Scheme p of shares exercisable
822.00 20,442 2003 to 2010
972.33 7,436 2003 to 2010
960.00 22,336 2003 to 2010
1,035.00 403,157 2004 to 2011
Option price Number Normally
p of shares exercisable
516.00 692,183 2005 to 2012
512.00 834,559 2006 to 2013
526.00 608,487 2007 to 2014
CGU plc Option price Number Normally
Deferred Bonus Plan p of shares exercisable
875.0 13,154 2003 to 2010
The following table summarises information about options outstanding at 31 December 2009:
Weighted average
Outstanding remaining Weighted average
options contractual life exercise price
Range of exercise prices Number Years p
£3.00 – £4.89 20,395,572 3 341.94
£4.90 – £8.04 5,492,996 2 543.53
£8.05 – £11.19 466,525 1 1016.57
The comparative figures as at 31 December 2008 were:
Weighted average
Outstanding remaining Weighted average
options contractual life exercise price
Range of exercise prices Number Years p
£3.00 – £4.89 15,038,581 3 408.74
£4.90 – £8.04 10,344,558 2 535.04
£8.05 – £11.19 895,084 1 976.99
(ii) Share awards
At 31 December 2009, awards issued under the Company’s executive incentive plans over ordinary shares of 25 pence each in the
Company were outstanding as follows:
Aviva Long Term Incentive Plan 2005 Number of shares
2,483,286
3,914,033
Vesting period
2007 to 2009
2008 to 2010
Number of shares
11,619,840
Vesting period
2009 to 2011
One Aviva, twice the value Bonus Plan Number of shares
985,942
Vesting period
2008 to 2010
Number of shares
2,722,011
Vesting period
2009 to 2011
Aviva Annual Bonus Plan 2005 Number of shares
2,094,687
2,870,335
Vesting period
2010
2011
Number of shares
7,995,096
Vesting period
2012
Financial statements IFRS
The vesting of awards under the Aviva Long Term Incentive Plan 2005 is subject to the attainment of performance conditions
as described in the Directors’ remuneration report. Shares which do not vest, lapse.
(iii) Shares to satisfy awards and options
Prior to March 2003, it was the practice to satisfy awards and options granted under the executive incentive plans through shares
purchased in the market and held by employee share trusts which were established for the purpose of satisfying awards under the
various executive incentive plans and funded by the Company.
From March 2003 to July 2008, it was generally the Company’s practice to satisfy the awards granted after March 2003 by the
issue of new shares at the time of vesting. However, since July 2008, it has been the Company’s practice to satisfy all awards and
options using shares purchased in the market and held by employee trusts except where local regulations make it necessary to
issue new shares. Further details are given in note 30.