Barclays 2007 Annual Report Download - page 157

2
Governance
Executive Directors: awards under PSPa, e
Shares Shares Maximum Lapses
under under Maximum Shares under number due in 2008
initial initial number initial of shares based on
allocation allocation of shares Market allocation under award maximum
at granted granted price Scheduled at 31st at 31st number
1st January during during on award Performance vesting December December of shares
2007 2007b2007 date £cperiodddate 2007 2007 under award
Executive Directors
John Varley
2005 142,045 – – – 01/01/05-31/12/07 16/06/08 142,045 426,135 426,135
2006 153,748 – – – 01/01/06-31/12/08 23/03/09 153,748 461,244 –
2007 – 163,710 491,130 7.08 01/01/07-31/12/09 22/03/10 163,710 491,130 –
Total 459,503 1,378,509
Robert E Diamond Jr
2005 52,083 – – – 01/01/05-31/12/07 16/06/08 52,083 156,249 156,249
2006 768,736 – – – 01/01/06-31/12/08 23/03/09 768,736 2,306,208 –
2007 – 934,516 2,803,548 7.08 01/01/07-31/12/09 22/03/10 934,516 2,803,548 –
Total 1,755,335 5,266,005
Gary Hoffman
2005 75,758 – – – 01/01/05-31/12/07 16/06/08 75,758 227,274 227,274
2006 96,092 – – – 01/01/06-31/12/08 23/03/09 96,092 288,276 –
2007 – 85,266 255,798 7.08 01/01/07-31/12/09 22/03/10 85,266 255,798 –
Total 257,116 771,348
Chris Lucas
2007 – 82,910 248,730 7.23 01/01/07-31/12/09 22/03/10 82,910 248,730 –
Total 82,910 248,730
Frits Seegers
2006 157,728 – – – 01/01/06-31/12/08 04/08/09 157,728 473,184 –
2007 – 136,426 409,278 7.08 01/01/07-31/12/09 22/03/10 136,426 409,278 –
Total 294,154 882,462
Former Director
Naguib Kheraj
2005 87,121 – – – 01/01/05-31/12/07 16/06/08 87,121 261,363 261,363
2006 107,624 – – – 01/01/06-31/12/08 23/03/09 107,624 322,872 –
Total 194,745 584,235
Barclays PLC Annual Report 2007 155
Executive Directors: Retained Incentive Opportunity f
Maximum
potential
Date of value Performance Vesting
award £000s period date
Robert E Diamond Jr 25/05/05 14,850 01/01/05-31/12/07 No later
than
15/03/08
Notes
aThe performance conditions for the 2005 awards were not met and all awards are due
to lapse in 2008.
bIn respect of John Varley, Robert E Diamond Jr, Gary Hoffman and Frits Seegers, the price
used to convert the present fair value of the award to a number of shares was £7.33.
This was the average over the period 20th February 2007 to 13th March 2007. In respect
of Chris Lucas, the price used to convert the present fair value of the award to a number
of shares was £7.23, which was the price at which shares were purchased in the market
to fund the award.
cThe price shown is the mid-market closing price on the date of the award.
dThe details of the performance conditions for PSP are included on page 147.
eFigures shown in the column ‘Shares under initial allocation at 1st January 2007’ for
Chris Lucas are as at date of joining. Nothing was paid by the participants on the grant
of awards.
fRobert E Diamond Jr’s award under the Retained lncentive Opportunity reached the end
of its performance period on 31st December 2007. Barclays Capital’s cumulative EP
over the three-year performance period, which started on 1st January 2005, exceeded
the £2bn threshold for the maximum potential value to vest in accordance with the
terms of the award. This resulted in a vesting in February 2008 to the value of
£14,850,000 with 50% payable in cash and the remaining 50% as a recommendation
to the trustee of ESAS for an award of Barclays shares in the form of a provisional
allocation. Any shares under the ESAS award would be releasable after 12 months from
the award date. Bonus shares are not applicable to this award.