Barclays 2005 Annual Report Download - page 45

Executive Directors: plans used in previous years (Executive Share Option Scheme (ESOS), Incentive Share Option Plan (ISOP) and
BGI Equity Ownership Plan (BGI EOP))
Executive Directors continue to have interests under the ESOS(a), ISOP(b) and BGI EOP(c) (as indicated in the table below). No awards were made to
Directors under these plans during 2005.
Executive Directors: awards under plans used in previous years(d)
Maximum Maximum
number of number of Target/vested
shares under shares under number
option option Market Weighted of shares
at at 31st price on average Date from Latest at 31st
1st January During the year(e)
December exercise exercise which expiry December
2005 Exercised Lapsed 2005 date price exercisable date 2005(g)
££
Chairman
Matthew W Barrett
ESOS(f ) 766,628 – – 766,628 – 4.43 04/10/02 03/10/09 766,628
ISOP 8,752,000 – 5,920,000 2,832,000 – 4.98 18/05/03 19/03/12 2,832,000
Executive Directors
John Varley
ISOP 2,340,000 – 280,000 2,060,000 – 4.45 18/05/03 22/03/14 880,000
Robert E Diamond Jr
ESOS 100,000 – – 100,000 – 3.97 14/08/01 13/08/08 100,000
ISOP 1,620,000 – 280,000 1,340,000 – 4.42 12/03/04 22/03/14 520,000
BGI EOP 200,000 – – 200,000 – 20.11 26/03/05 26/03/14 200,000
to 26/03/07
Gary Hoffman
ISOP 1,800,000 – 280,000 1,520,000 – 4.34 18/05/03 22/03/14 700,000
Naguib Kheraj
ESOS 60,000 – – 60,000 – 3.97 14/08/01 13/08/08 60,000
ISOP 1,580,000 – 220,000 1,360,000 – 4.40 12/03/04 22/03/14 480,000
David Roberts
ISOP 1,580,000 – 280,000 1,300,000 – 4.39 12/03/04 22/03/14 480,000
Former Director
Roger Davis
ISOP 1,420,000 – 160,000 1,260,000 – 4.36 12/03/04 22/03/14 440,000
Notes
(a) Under the ESOS, options granted (at market value) to executives were exercisable only if the growth in earnings per share of the Company over the three-year
period was, at least, equal to the percentage increase in the UK Retail Price Index plus 6% over the same period. The performance target for the 1999 ESOS grant
was met.
(b) Under the ISOP, executives were awarded options (at market value) over Barclays PLC ordinary shares which are normally exercisable after three years. The number
of shares over which options can be exercised depends upon performance against specific targets. For ISOP awards granted in 2000 to 2003, the first 40,000 target
shares under option for each award was subject to an Economic Profit metric. Any amount above 40,000 target shares was subject to a relative TSR metric. Awards
in 2004 were subject to a relative TSR metric.
(c) Robert E Diamond Jr received a grant under the BGI EOP in March 2004. He was not a Director of Barclays PLC at that time. The EOP is an option plan, approved by
shareholders in 2000. Under the plan, participants receive an option to purchase shares in Barclays Global Investors UK Holdings Limited. The exercise price is based
on the fair value at the time of grant. The option normally vests in three equal tranches on the first, second, and third anniversary of the date of grant. Participants
are required to retain their shares for 355 days after the date of exercise, before they may be offered for sale.
(d) The register of Directors’ interests, which shows full details of Directors’ current share awards and options, is available for public inspection at the Group’s head
office in London.
(e) No options were granted under these plans during 2005.
(f) The independent trustee of the Barclays Group (ESOS) employees’ benefit trust granted Matthew W Barrett a share award in 1999 comprising of an option on
similar terms to options granted under ESOS. For convenience these are described as granted under ESOS in the above table.
(g) The number of shares shown represent the target award shares under option, or the actual number of shares under option if the award has vested. The target
number of shares takes account of the stretch in the performance condition and the probability of vesting. A maximum number is shown for the BGI EOP.
Barclays PLC
Annual Report 2005 43
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