BT 2002 Annual Report Download - page 69

Report on directors' remuneration
Details of awards of shares under the ESP and awards of Incentive Shares which would vest based on BT Group's TSR
compared with the other companies in the FTSE 100 for the relevant performance period up to 31 March 2002 are as follows:
31 March 2002 31 March 2001
No. of shares
under award
Expected
vesting date
TSR
position
Percentage
of shares
vesting
TSR
position
Percentage
of shares
vesting
Sir Christopher Bland 311,073 2004 86 ± ± ±
B Verwaayen ± ± ± ± ± ±
P Hampton 202,975 2004 86 ± ± ±
Dr P Reynolds 47,019 2003 90 ± ± ±
144,649 2004 86 ± ± ±
18,304 2002 57 32.5 ± ±
11,409 2003 86 ± ± ±
11,388 2004 92 ± ± ±
A Green 83,354 2003 90 ± ± ±
174,978 2004 86 ± ± ±
58,000 2002 57 32.5 ± ±
37,378 2003 86 ± ± ±
37,975 2004 92 ± ± ±
P Danon 97,581 2003 90 ± ± ±
174,978 2004 86 ± ± ±
Sir Peter Bon®eld 266,743 2003 90 ± 91 ±
510,159 2004 86 ± ± ±
114,493 2002 57 32.5 34 90
110,456 2003 86 ± 38 80
98,351 2004 92 ± 86 ±
B Cockburn 76,467 2003 86 ± 38 80
67,142 2004 92 ± 86 ±
R P Brace 83,110 2002 57 32.5 34 90
56,073 2003 86 ± 38 80
The following deferred bonuses have been awarded to the directors under the DBP. These shares will normally be
transferred to participants at the end of the three-year deferred period if those participants are still employed by the group.
Market value
1 April
2001 Rights Issue
a
Awarded Vested Demerger
b
31 March
2002
2002
£000
2001
£000
Dr P Reynolds
c
39,445 ± ± ± ± 39,445 110 ±
A Green
c
63,524 ± ± ± ± 63,524 178 ±
P Danon
c
21,872 ± ± ± ± 21,872 61 ±
Sir Peter Bon®eld 186,332 17,310 113,370 (27,620) 101,380 390,772 1,094 950
P Hampton ± ± 11,784 ± 3,769 15,553 43 ±
B Cockburn 33,232 3,087 ± (7,531) 9,207 37,995 106 169
R P Brace 14,650 1,360 ± (7,531) 2,712 11,191 31 75
a
The Trustee sold suf®cient rights to enable it to take up the remainder.
b
The demerger resulted in the Trustee receiving one BT Group plc and one mmO2 plc share for every British Telecommunications plc share held. The Trustee
sold the surplus mmO2 shares and purchased further BT Group shares. The value of the awards was based on the average combined share price of BT
Group and mmO2 shares over the 20 dealing days following the demerger (see note 34 to the ®nancial statements).
c
The deferred bonuses of Paul Reynolds, Andy Green and Pierre Danon are as at their date of appointment on 19 November 2001 and the year end.
At 31 March 2002, Sir Christopher Bland, Ben Verwaayen, Philip Hampton, Pierre Danon, Paul Reynolds and Andy Green
each had a non-bene®cial interest in 73,069 shares (2001 ± 97,578) purchased by BT Employee Shares Trustees
Limited for allocation to employees under the BT Employee Share Ownership Scheme, and 24,571,130 shares
(2001 ± 19,144,802) held in trust by Ilford Trustees (Jersey) Limited for allocation to employees under the employee share
schemes. Also, each had a non-bene®cial interest in 45,286,908 shares held in trust by Royal Bank of Scotland (Jersey)
Trustees Limited for allocation to employees under the BT Employee Sharesave Schemes.
68 BT Group Annual Report and Form 20-F 2002