BT 1999 Annual Report Download - page 88

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NOTES TO THE FINANCIAL STATEMENTS
87
29. Directors
Directors’ emoluments
The emoluments of the directors for the year ended 31 March 1999 and the gains made by them on the exercise of share
options were, in summary, as follows:
1999 1998 1997
£000 £000 £000
))))))))))))01111110051111
Salaries 1,695 1,578 1,543
Performance-related bonus 1,515 882 636
Deferred bonus in shares 1,513 222 –
Other benefits 123 114 94
00000000000511!!!001001111
4,846 2,796 2,273
Payments to non-executive directors (a) 283 259 273
00000000000511!!!001001111
Total emoluments 5,129 3,055 2,546
00000000000511!!!001001111
Gain on the exercise of share options (b) 932 857 93
00000000000511!!!001001111
(a) Payments to non-executive directors include fees paid to their principal employer of £9,500 (1998 – £38,000, 1997 – £31,000).
(b) The gain for the year ended 31 March 1999 includes £41,000 attributable to a former director.
More detailed information concerning directors’ remuneration, shareholdings, pension entitlements, share options and other
long-term incentive plans is shown in the report on directors’ remuneration on pages 47 to 55.
1999 1998 1997
))))))%!!!!!!!0051111!!!0051111!!!0051111
Year end Average Year end Average Year end Average
30. People employed ’000 ’000 ’000 ’000 ’000 ’000
00000051111!!!0051111!!!0051111!!!0051111
Number of employees in the group:
UK 118.9 119.8 120.2 124.9 123.3 125.8
Non-UK 5.8 5.1 4.5 4.3 4.2 3.8
00000051111!!!0051111!!!0051111!!!0051111
Total employees 124.7 124.9 124.7 129.2 127.5 129.6
00000051111!!!0051111!!!0051111!!!0051111
31. Employee share schemes
The company has a share ownership scheme used for employee share allocations (profit sharing), savings-related share option
schemes for its employees and those of participating subsidiaries and further share option schemes for selected group
employees. It also has an executive share plan, a performance share plan and a deferred bonus plan.
An employee stock purchase plan was established in 1998 for employees in the United States. Under this plan, employees may
purchase American Depositary Shares (ADSs) on a monthly basis at a price equal to the lower of (i) 85% of the average trading
price of the ADSs on the New York Stock Exchange on the date on which the purchase rights are granted and, (ii) 85% of the
average trading price of the ADSs on the date of purchase. During the year ended 31 March 1999, the discounted price was
US$92.20 per ADS and 0.4 million shares were issued under this plan.
Share option schemes
The major share option scheme, the BT Employee Sharesave Scheme, is savings related and the share options are normally
exercisable on completion of a three or five-year Save As You Earn contract. A similar savings related scheme exists for group
employees based outside the UK. Under the other share option schemes, share options are normally exercisable between the
third and tenth anniversaries of the date of grant. Options outstanding under these share option schemes at 31 March 1998 and
1999, together with their exercise prices and dates, were as follows: