BT 2007 Annual Report Download - page 67

Unrealised gains
As at 31 March 2007, Hanif Lalani had an unrealised gain on an exercisable option granted on 24 June 2003 of £109,738 and
Paul Reynolds had an unrealised gain on an exercisable option granted on 21 December 2001 of £3,906. There were no further
unrealised gains on share options as at 31 March 2007 (2006 – £15,790).
Share awards under long-term incentive plans held at 31 March 2007, or date of appointment if later
Details of the company’s ordinary shares provisionally awarded to directors, as participants under the ISP and RSP are as follows:
1 April 2006 Awarded
Dividends
re-invested Vested Lapsedd
Total number
of award
shares
31 March
2007
Expected
vesting date
Price on
grant
Market price
at vesting
Monetary
value of
vested
award
£000
Sir Christopher Bland
RSP 2003a314,785 –14,633 – – 329,418 2007g182p – –
B Verwaayen
ISP 2004 265,475 –12,341 – 125,017 152,799 31/03/2007 193.42p – –
ISP 2005 322,767 –15,005 – – 337,772 31/03/2008 227.75p – –
ISP 2006b302,271 14,052 – – 316,323 31/03/2009 231.58p – –
F Barraultf
RSP 2004a–––––358,655 21/05/2007 181.00p – –
ISP 2005 – ––––185,894 31/03/2008 227.75p – –
ISP 2006b–––––194,914 31/03/2009 231.58p – –
RSP 2007a–––––160,865 30/06/2009 300.25p – –
A Green
ISP 2004 161,180 –7,492 – 75,902 92,770 31/03/2007 193.42p – –
ISP 2005 230,546 –10,717 – – 241,263 31/03/2008 227.75p – –
ISP 2006b–215,908 10,037 – – 225,945 31/03/2009 231.58p – –
RSP 2006a,c –323,862 15,056 – – 338,918 30/06/2009 231.58p – –
H Lalani
ISP 2004 75,845 –3,525 – 35,716 43,654 31/03/2007 193.42p – –
ISP 2005 184,438 –8,573 – – 193,011 31/03/2008 227.75p – –
ISP 2006b–172,726 8,029 – – 180,755 31/03/2009 231.58p – –
I Livingston
ISP 2004 170,661 –7,933 – 80,367 98,227 31/03/2007 193.42p – –
ISP 2005 242,074 –11,253 – – 253,327 31/03/2008 227.75p – –
RSP 2005a,e 536,803 –20,532 276,456 – 280,879 09/11/2007 213.25p 279.5p £772
ISP 2006b–226,703 10,539 – – 237,242 31/03/2009 231.58p – –
P Reynolds
ISP 2004 151,700 –7,052 – 71,438 87,314 31/03/2007 193.42p – –
ISP 2005 184,438 –8,573 – – 193,011 31/03/2008 227.75p – –
ISP 2006b–194,317 9,033 – – 203,350 31/03/2009 231.58p – –
aVesting of RSP awards is not subject to a performance target being met.
bAwards under the ISP were granted on 30 June 2006. The number of shares subject to awards was calculated using the average middle market price of a BT share for the three days prior to the
grant. The awards will vest, subject to meeting a performance target, on 31 March 2009. The performance measure is relative TSR compared with a group of companies from the European Telecom
Sector as at 1 April 2006. BT’s TSR must be in the upper quartile for all of the awards to vest. At median, 25% of the shares will vest. Below that point, none of the shares will vest.
cThe RSP award was granted to Andy Green on 30 June 2006. The award will vest, subject to continued employment, on 30 June 2009.
dAwards granted under the ISP in 2004 were subject to a performance target. The performance measure was relative TSR compared with a group of 20 companies from the European Telecom Sector
as at 1 April 2004. BT’s TSR had to be in the upper quartile for all of the awards to vest. At median, 25% of the shares would vest. At 31 March 2007, BT’s TSR was at 8th position against the
comparator group. As a result, 45% of the awards lapsed on that date and 55% of the awards will be transferred to participants in May 2007.
eIan Livingston was granted an award under the RSP on 31 May 2005. 50% of the award vested on 10 November 2006 and 50% will vest on 9 November 2007.
fFranc¸ois Barrault was appointed as a director on 24 April 2007.
gThe RSP award granted to Sir Christopher Bland on 1 September 2003 will vest, subject to continued employment, at the conclusion of the 2007 AGM.
Report of the Directors Corporate governance
66 BT Group plc Annual Report & Form 20-F