BT 2012 Annual Report Download - page 90

Governance
Share options held at 31 March 2012
1 April 2011 Number of shares under option
or date of
appointment if
later Granted Lapsed Exercised 31 March 2012
Option price per
share
Usual date
from which
exercisable
Usual
expiry
date
Sir Michael Rake 12,110a– – – 12,110 68p 1/8/2012 1/2/2013
1,485b– – – 1,485 104p 1/8/2016 1/2/2017
I Livingston 12,110a– – – 12,110 68p 1/8/2012 1/2/2013
769b– – – 769 104p 1/8/2016 1/2/2017
T Chanmugam 37,384c– – – 37,384 192p 24/6/2007 24/6/2014
12,110a– – – 12,110 68p 1/8/2012 1/2/2013
G Patterson 98,178c– – – 98,178 192p 24/6/2007 24/6/2014
Total 174,146 – – – 174,146
All of the above options were granted for nil consideration.
a Option granted on 7 April 2009 under the Employee Sharesave Scheme, in which all employees of the company are entitled to participate.
b Option granted on 17 June 2010 under the Employee Sharesave Scheme, in which all employees of the company are entitled to participate.
c Options granted under the GSOP on 24 June 2004. The exercise of options was 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.
The market price of BT shares at 31 March 2012 was 226.4p (2011: 185.6p) and the range during the year was 161p to 232.1p (2011: 109.9p to
191.1p).
Share awards under the Employee Share Investment Plan (ESIP) at 31 March 2012
Total number of shares
31 March 2012
I Livingston 363
T Chanmugam 679
G Patterson 247
During the year no awards of shares were granted under the ESIP.
All UK employees may participate in the ESIP. The awards are not subject to any performance conditions.
Pensions
The BT Pension Scheme (BTPS) closed to new entrants on 31 March 2001. None of the executive directors participate in future service accrual in the
BTPS although Tony Chanmugam’s pension is based on his final salary. Executive directors who are members of the BTPS also benefit from a death in
service lump sum of four times salary.
All new employees are eligible to join the defined contribution BT Retirement Saving Scheme (BTRSS), the successor to the defined contribution BT
Retirement Plan (BTRP). The BTRSS is a group personal pension plan. For executive directors the company agrees to pay a fixed percentage of the
executive’s salary each year which can be put towards the provision of retirement benefits. Executive directors who are not members of the BTPS
benefit from a death in service lump sum of four times salary and a dependant’s pension of 30% of capped salary.
Pension provision for all executives is based on salary alone – bonuses, other elements of pay and long-term incentives, are excluded.
Sir Michael Rake is not a member of any of the company pension schemes, and the company made no payments towards retirement provision.
BTprovides him with a lump sum death in service benefit of £1m.
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BusinessStrategy
Performance
Governance
Financial statements
Additional information