BT 2001 Annual Report Download - page 68

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Report on directors’ remuneration
68 BT Annual report and Form 20-F
Directors’ interests
The interests of directors and their families in the company’s shares at 31 March 2001 and 1 April 2000, or date of appointment if
later, are shown below:
No. of shares
Beneficial holdings 2001 2000
Sir lain Vallance 208,570 208,504
Sir Peter Bonfield 10,862(a) 10,583(a)
P R Hampton 780 780(b)
B Cockburn 22,940 22,865
Lord Marshall 2,000 2,000
Sir Anthony Greener 8,936 3,936(b)
H Alexander 930 930
J I W Anderson 5,910 5,910
L R Hughes 6,800 2,100
N Isdell 7,500 2,500
J F de Moller 1,500 1,500
M van den Bergh 1,000 –(b)
Sir John Weston 1,046 1,030
Total 278,774 262,638
(a) Includes 9,606 shares (2000 – 9,393 shares) purchased and held by Sir Peter Bonfield in the ESP (see note 33 to the financial statements).
(b) At date of appointment.
Details of share options held at 31 March 2001 are as follows:
Number of
shares under
option
31 March
2001
Option
exercise
price per
share
Usual
date
from
which
exercisable
Usual
expiry
date
Sir Iain Vallance 57,957 333p 09/03/95 09/03/02
20,770 430p 04/03/96 04/03/03
3,760 375p 08/12/97 08/12/04
82,487
Sir Peter Bonfield 6,460 267p 14/08/01 14/02/02
R P Brace 24,890 430p 04/03/96 04/03/03(a)
30,180 460p 15/11/96 15/11/03(a)
23,470 375p 08/12/97 08/12/04(a)
78,540
B Cockburn 3,330(b) 518p 14/08/03 14/02/04
Total 170,817
(a) Robert Brace’s options will lapse on 31 December 2001, twelve months after he ceased to be employed by the company.
(b) Option under BT Employee Sharesave Scheme exercisable over a maximum of 1,921 shares for six months from 31 March 2001, the date on which Bill
Cockburn ceased employment with the company
All of the above options were granted for nil consideration. No options were granted to or exercised by the directors during the
year. The above table also represents the position at 1 April 2000.
It is a term of Sir Christopher Bland’s service agreement that (i) he purchases, as soon as permitted under BT’s share dealing
code, BT shares to the value of at least »1 million; and (ii) as soon as practical after the purchase of the shares (the Invested
Shares), the company will grant an option under the Share Options element of the Portfolio over shares to the value of »1 million.
So long as Sir Christopher is the legal and bene¢cial owner of the Invested Shares on 1 May 2004, the options will become
exercisable on that date.