BT 2007 Annual Report Download - page 66

Share options held at 31 March 2007, or date of appointment if later
Number of shares under option
1 April 2006 Granted Lapsed Exercised 31 March 2007
Option price per
share
Usual date from
which
exercisable
Usual expiry
date
Sir Christopher Bland 314,244a–– 314,244 318p 01/05/2004 01/05/2011
B Verwaayen 1,121,121b– 1,121,121 – –250p 01/04/2005 11/02/2012
935,830c– 935,830 – –187p 29/07/2005 29/07/2012
1,052,632d–––1,052,632 199.5p 24/06/2006 24/06/2013
546,875e– 229,687 – 317,188 192p 24/06/2007 24/06/2014
3,656,458 – 2,286,638 – 1,369,820
F Barraultk––––362,500m180p 21/05/2007 21/05/2014
A Green 568,190c– 568,190 – –187p 29/07/2005 29/07/2012
639,098d–––639,098 199.5p 24/06/2006 24/06/2013
332,032e– 139,453 – 192,579 192p 24/06/2007 24/06/2014
5,712f–––5,712 165p 14/08/2007 31/02/2008
1,545,032 – 707,643 – 837,389
H Lalani 177,810c– 177,810 – –187p 29/07/2005 29/07/2012
210,527d–––210,527 199.5p 24/06/2006 24/06/2013
156,250e– 65,625 – 90,625 192p 24/06/2007 24/06/2014
5,346g– – 5,346 –173p 14/08/2006 13/02/2007
8,994l––8,994 179p 14/08/2012 13/02/2013
105,264h–––105,264 199.5p 24/06/2004 24/06/2013
655,197 8,994 243,435 5,346 415,410
I Livingston 601,610c– 601,610 – –187p 29/07/2005 29/07/2012
676,692d–––676,692 199.5p 24/06/2006 24/06/2013
351,563e– 147,656 – 203,907 192p 24/06/2007 24/06/2014
7,290i–––7,290 227p 14/08/2007 13/02/2008
1,637,155 – 749,266 – 887,889
P Reynolds 534,760c– 534,760 – –187p 29/07/2005 29/07/2012
601,504d–––601,504 199.5p 24/06/2006 24/06/2013
312,500e– 131,250 – 181,250 192p 24/06/2007 24/06/2014
4,555j–––4,555 218p 14/02/2007 13/08/2007
1,453,319 – 666,010 – 787,309
Total 9,261,405 8,994 4,652,992 5,346 4,974,561
All of the above options were granted for nil consideration.
aOption granted under the GSOP on 22 June 2001. The option is not subject to a performance measure. It was a term of Sir Christopher Bland’s initial service contract that (i) he purchased BT shares
to the value of at least £1 million; and (ii) as soon as practicable after the purchase of the shares (‘invested shares’), the company would grant a share option over shares to the value of at least
£1 million. Sir Christopher Bland was the legal and beneficial owner of the invested shares on 1 May 2004, so the option became exercisable on that date.
bOption granted under the GSOP on 11 February 2002. The exercise of the option was subject to a performance measure being met. The performance measure was relative TSR compared with the
FTSE 100 as at 1 April 2002. BT’s TSR must be in the upper quartile for all of the option to become exercisable. At median, 40% of the option would be exercisable. Below that point, none of the
option may be exercised. On 31 March 2005, BT’s TSR was below median and also when it was retested on 31 March 2006 and 31 March 2007. As a result, the option lapsed on 31 March 2007.
cOptions granted under the GSOP on 29 July 2002. The exercise of the options was subject to a performance measure being met. The performance measure was relative TSR compared with the FTSE
100 as at 1 April 2002. BT’s TSR must be in the upper quartile for all of the options to become exercisable. At median, 30% of the options would be exercisable. Below that point, none of the
options may be exercised. On 31 March 2005, BT’s TSR was below median and also when it was retested on 31 March 2006 and 31 March 2007. As a result, the options lapsed on 31 March 2007.
dOptions granted under the GSOP on 24 June 2003. The exercise of the options is subject to a performance measure being met. The performance measure is relative TSR compared with the FTSE 100
as at 1 April 2003. BT’s TSR must be in the upper quartile for all of the options to become exercisable. At median, 30% of the options will become exercisable. Below that point, none of the options
may be exercised. On 31 March 2006, BT’s TSR was at 85th position against the FTSE 100. As a result, the options did not become exercisable. The TSR will be re-tested against a fixed base on 31
March 2008.
eOptions granted under the GSOP on 24 June 2004. The exercise of the options is subject to a performance measure being met. The performance measure is relative TSR compared with a group of 20
companies from the European Telecom Sector as at 1 April 2004. BT’s TSR must be in the upper quartile for all of each option to become exercisable. At median, 30% of the option will be
exercisable. Below that point, no part of the option may be exercised. On 31 March 2007, BT’s TSR was at 8th position against the comparator group and as a result, 42% of each option lapsed and
58% of each option will become exercisable on 24 June 2007.
fOption granted on 25 June 2004 under the Employee Sharesave Scheme, in which all employees of the company are eligible to participate.
gOption granted on 27 June 2003 under the Employee Sharesave Scheme, in which all employees of the company are eligible to participate. On 14 August 2006, Hanif Lalani exercised his option and
realised a gain of £3,608 based on the share price of 240.5p per share on the date of exercise.
hOption granted under the GSOP (Special Incentive Award) on 24 June 2003, prior to Hanif Lalani’s appointment as a director. This option is not subject to a performance measure as the grant was
linked to personal performance.
iOption granted on 25 June 2002 under the Employee Sharesave Scheme, in which all employees of the company are eligible to participate.
jOption granted on 21 December 2001 under the Employee Sharesave Scheme, in which all employees of the company are eligible to participate.
kFranc¸ois Barrault was appointed as a director on 24 April 2007.
lOption granted on 23 June 2006 under the Employee Sharesave Scheme, in which all employees of the company are eligible to participate.
mOption granted under the GSOP on 21 May 2004. The exercise of the option is subject to the same performance measure as options granted on 24 June 2004 – see e above.
The market price of a BT share at 31 March 2007 was 303.75p (2006 – 222p) and the range during the financial year 2006/07 was
209.25p – 321.75p (2005/06 196.5p – 235p).
BT Group plc Annual Report & Form 20-F 65
Report of the Directors Governance