BT 2003 Annual Report Download - page 70

Report on directors’ remuneration
BT Annual Report and Form 20-F 2003 69
Share awards under long-term incentive schemes held at 31 March 2003
Details of the company’s ordinary shares provisionally awarded to directors, as participants under the ESP, ISP
and RSP are as follows:
Total number
of award shares Range of value of award
1 April 2002
a
Awarded Vested Lapsed
Dividends
re-invested
31 March
2003
Expected
vesting date
Minimum
£000
Maximum
£000
Sir Christopher Bland
ISP 2001 311,073 – – – 7,235 318,308 01/08/04 – £500
B Verwaayen
RSP 2001 781,576 – – – 18,178 799,754 10/01/05 £1,256 £1,256
P Danon
ISP 2000 97,581 – – – 2,269 99,850 01/08/03 – £157
ISP 2001 174,978 – – – 4,069 179,047 01/08/04 – £281
RSP 2000 104,086 – 52,585
g
– 1,752 53,253 04/10/03 £84 £84
A Green
ESP 1997 69,530 – 30,380
b
39,150 – –––
ESP 1998 37,378 – – – 717 38,095 01/08/03 – £60
ESP 1999 37,982 – – – 728 38,710 01/08/04 – £61
ISP 2000 83,354 – – – 1,938 85,292 01/08/03 – £134
ISP 2001 174,978 – – – 4,069 179,047 01/08/04 – £281
I Livingston
c
RSP 2002 – 493,601 – – 11,480 505,081 05/04/05 £793 £793
RSP 2002 – 110,444 – – 2,568 113,012 20/05/05 £177 £177
Dr P Reynolds
ESP 1997 22,878 – 10,523
b
12,355 – –––
ESP 1998 11,409 – – – 217 11,626 01/08/03 – £18
ESP 1999 11,388 – – – 217 11,605 01/08/04 – £18
ISP 2000 47,019 – – – 1,092 48,111 01/08/03 – £76
ISP 2001 144,649 – – – 3,363 148,012 01/08/04 – £232
Former directors
Sir Peter Bonfield
d
ESP 1997 152,652 – 75,369
b
77,283 – –––
ESP 1998 110,456 – – – 2,123 112,579 01/08/03 – £177
ESP 1999 98,351 – – – 1,888 100,239 01/08/04 – £157
ISP 2000 266,743 – – – 6,204 272,947 01/08/03 – £429
ISP 2001 510,159 – – – 11,866 522,025 01/08/04 – £820
R Brace
e
ESP 1997 101,765 – 45,666
b
56,099 – –––
ESP 1998 56,073 – – – 1,076 57,149 01/08/03 – £90
B Cockburn
e
ESP 1998 76,467 – – – 1,468 77,935 01/08/03 – £122
ESP 1999 67,142 – – – 1,290 68,432 01/08/04 – £107
P Hampton
f
RSP 2000 86,796 – – 86,796 – –––
ISP 2001 202,975 – – 202,975 – –––
a
Excluding shares purchased by each director and held under the ESP (see page 60).
b
The ESP 1997 award, which was granted on 13 November 1997, vested on 1 August 2002. On that date the market price of a BT Group share was 199p.
The market price on the date of grant was 455.5p. The five year performance cycle for the award ended on 31 July 2002 and on the basis of BT’s TSR
position, 32.5% of the performance shares under award, including re-invested dividends, vested.
c
In accordance with the terms of his service agreement, an award of 493,601 shares with a value of £1,350,000 was granted on 30 May 2002 to Ian
Livingston under the RSP. This award of shares will vest in three equal tranches on the first three anniversaries of his joining BT. In addition, Ian Livingston
purchased BT Group shares with a value of £300,000 and on 20 May 2002 was granted an award under the RSP of 110,444 shares with a value
of £300,000, which will vest on the third anniversary of the date of purchase of his purchased shares.
d
Under the terms of his service agreement, the awards granted to Sir Peter Bonfield were preserved on his leaving until the normal vesting date.
e
The awards granted to Bill Cockburn and Robert Brace were preserved at the discretion of the Remuneration Committee on their leaving until the normal
vesting date.
f
The awards granted to Philip Hampton lapsed on his leaving the company.
g
The RSP 2000 award, which was granted on 4 October 2000, vested on 4 October 2002. On that date the market price of a BT Group share was 168p.
The market price on the date of grant was 697.5p.
h
Details of the ESP, ISP and GSOP, and any relevant performance conditions are set out on pages 60 and 61.