Carphone Warehouse 2005 Annual Report Download - page 32

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The Carphone Warehouse Group PLC Annual Report 2005
Pensions*
The schedule below sets out payments to defined contribution pension schemes on behalf of Executive Directors. Geoffroy Roux de Bezieux and Roger
Taylor are members of a UK stakeholder pension scheme. Under this scheme a fixed proportion of salary is paid by the Company, together with a fixed
proportion by the Executive Director. Both amounts are invested on behalf of the Executive Director. Pension benefits are then funded by the total
investment. Jim Dale is in a similar scheme in the Isle of Man. Levels are reviewed annually against published market data. None of the Directors was
a member of a defined benefit pension scheme. Pension entitlements are based on basic salary only.
£’000 £’000
Director 2005 2004
R W Taylor 14 11
G Roux de Bezieux 12 15
J H Dale 76
Total 33 32
Share options*
Details of Directors’ interests in options to buy shares in the Company are as follows:
27 March Exercised during 2 April Exercise price
Director 2004 the period 2005 per share £ Exercisable from Expiry date
R W Taylor 250,000 250,000 0.80 14/07/00 29/01/10
500,000 500,000 1.00 14/07/00 29/01/10
200,000 200,000 1.50 19/05/02 19/05/10
200,000 200,000 2.00 19/05/02 19/05/10
240,000 240,000 1.25 21/05/04 21/05/11
500,000 (i) 500,000 0.83 11/06/05 11/06/12
444,444 (ii) 444,444 0.90 06/06/06 06/06/13
2,334,444 – 2,334,444
G Roux de Bezieux 3,500,000 3,500,000 1.50 19/05/02 19/05/10
120,000 120,000 1.25 21/05/04 21/05/11
475,000 (i) 475,000 0.83 11/06/05 11/06/12
422,222 (ii) 422,222 0.90 06/06/06 06/06/13
4,517,222 – 4,517,222
J H Dale 200,000 (200,000) (vi) – 0.50 14/07/00 03/10/09
200,000 200,000 1.50 19/02/02 19/05/10
200,000 200,000 2.00 19/02/02 19/05/10
96,000 (96,000) (vi) – 1.25 21/05/04 21/05/11
300,000 (i) 300,000 0.83 11/06/05 11/06/12
222,222 (ii) 222,222 0.90 06/06/06 06/06/13
1,218,222 (296,000) 922,222
Hans Roger Snook 1,000,000 1,000,000 0.80 23/03/05 25/03/12
1,000,000 – 1,000,000
Notes
(i) Options granted in June 2002 (exercisable from June 2005) are subject to performance conditions. 100% are exercisable if the Group achieves upper
quartile TSR performance over the three-year performance period, 50% for median performance, and 25% for performance between median and lower
quartile. None will be exercisable for lower quartile performance. Upper quartile performance has been achieved.
(ii) For options granted in June 2003 (exercisable from June 2006), the performance criteria are the same as for June 2002 grants except that no options
are exercisable for below median performance. The interests in options listed above assume upper quartile performance.
(iii) The TSR calculation is independently calculated for the Remuneration Committee by Deloitte.
(iv) Executive Directors may only exercise share options (and Performance Shares – see below) provided they remain in employment and hold a minimum
of 100% of salary in shares up until the date of exercise.
(v) The market price per share was 165.8p at 2 April 2005. The market price during the year varied between 121.0p and 180.0p.
(vi) Exercised on 20 January 2005 at a share price of 173.0p.
Remuneration Report continued
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