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Experian Annual Report 2007 |55
8. GUS Performance Share Plan
In June 2006, executive directors received a share award under the GUS Performance Share Plan (PSP) with a face value of one times salary.
On demerger, these awards were automatically rolled over into Experian shares. As approved by GUS shareholders at the EGM, awards
equivalent to two times salary were made to executive directors on demerger in October 2006. Both awards are outlined below. For awards
granted under the rolled over GUS Performance Share Plan awards the performance condition is based on Total Shareholder Return (TSR)
against the comparator group adopted by Experian (see 2.1c above) since the demerger. Rolled over awards will not vest if Experian’s total
shareholder return (defined as share price movement plus reinvested dividends) is below the median return for the comparator group. For
these rolled over awards only, once Experian achieves median performance, 40 per cent of the award may vest rising on a straight-line basis
to 100 per cent of the award vesting for upper quartile performance or better.
Plan shares
awarded at
1April 2006
Normal
vesting date
Total plan
shares
held at 31
March
2007
Plan shares
awarded
prior to
demerger(1)
Plan
shares
released
prior to
demerger
GUS
share
price on
date of
award
Share
price on
date of
release
Awards
rolled
over into
Experian
shares
Plan
shares
awarded
on
demerger
Experian
share
price on
date of
award
Chairman
John Peace(2)
19.06.03 103,626 – 103,626 675.5p 928.8p – – – June 2006
01.06.04 93,919 – 79,831 809.2p 963.6p – – – June 2007
31.05.05 93,768 – – 858.5p – 166,625 – – May 2008
02.06.06 – 94,492 – 926.0p – 167,912 – – June 2009
334,537
Executive directors
Don Robert
19.06.03 26,619 – 26,619 675.5p 928.8p – – – June 2006
01.06.04 22,481 – 19,108 809.2p 963.6p – – – June 2007
31.05.05 74,334 – – 858.5p – 132,091 – – May 2008
02.06.06 – 74,949 – 926.0p – 133,184 – – June 2009
11.10.06 – – – – – – 246,698 560.0p Oct 2011
511,973
Paul Brooks
19.06.03 16.059 – 16,059 675.5p 928.8p – – – June 2006
01.06.04 16,111 – 13,694 809.2p 963.6p – – – June 2007
31.05.05 16,704 – – 858.5p – 29,683 – – May 2008
02.06.06 – 15,442 – 926.0p – 27,440 – – June 2009
11.10.06 – – – – – – 132,837 560.0p Oct 2011
189,960
Non-executive directors
David Tyler(3)
19.06.03 62,176 – 62,176 675.5p 928.8p – – – June 2006
01.06.04 58,082 – 49,369 809.2p 963.6p – – – June 2007
31.05.05 58,241 – – 858.5p – 103,494 – – May 2008
02.06.06 – 58,855 – 926.0p – 104,585 – – June 2009
208,079
Notes:
1. On demerger,awards made under the 2004 GUS Performance Share Plan were automatically transferred to participants. These awards vested at 85 per cent of the original award. GUS Performance Share Plan awards made in 2005
and 2006 were replaced with an equivalent award over Experian shares.
2. As John Peace’s employment with Experian Finance plc (formerly GUS plc) ended on 31 March 2007, under the rules of the Plan, all outstanding awards will vest subject to the performance condition on the original vesting date
specified in the table, and will be time pro-rated to 31 March 2007. Disclosures will be made in respect of vesting at the appropriate time
3. David Tyler’s awards were rolled over on the basis described in footnote 3 to the Share Options table on page 53.
4. Under the Plan rules, participants are entitled to dividend equivalents on release of awards under the 2004 GUS Performance Share Plan as follows, John Peace £63,864; Don Robert $28,769; Paul Brooks $20,618
and David Tyler £39,496.