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68 Experian Annual Report 2009
Performance share plans
In May 2005 and June 2006, executive directors received a share award under the GUS PSP with a face value of one times
salary. On demerger, these awards were automatically rolled over into Experian shares. As approved by GUS plc shareholders
at the EGM held on 29 August 2006, awards equivalent to two times salary were made to executive directors on demerger
in October 2006 under the Experian performance share plan. Both awards are outlined below. For awards granted under the
rolled over GUS performance share plan, the performance condition is based on TSR against the comparator group adopted
by Experian. Rolled over awards will not vest if Experian’s TSR is below the median return for the comparator group. For these
rolled over awards only, once Experian achieves median performance, 40% of the award may vest, rising on a straight-line basis
to 100% of the award vesting for upper quartile performance or better.
Date of Plan Plan Plan Plan Experian Total
award shares shares shares shares share plan
held at awarded vested lapsed price on shares at Normal
1 April during the during the during the date of 31 March vesting
2008(1) year year(4) year award 2009 date
Chairman
John Peace (2) 31.05.05 101,860 – 40,744 61,116 560.0p
02.06.06 46,574 – – – 560.0p 02.06.09
46,574
Executive directors
Don Robert 31.05.05 132,091 – 52,836 79,255 560.0p
02.06.06 133,184 – – – 560.0p 02.06.09
11.10.06 246,698 – – – 560.0p 11.10.11
379,882
Paul Brooks 31.05.05 29,683 – 11,873 17,810 560.0p
02.06.06 27,440 – – – 560.0p 02.06.09
11.10.06 132,837 – – – 560.0p 11.10.11
160,277
Non-executive directors
David Tyler (3) 31.05.05 103,494 – 41,397 62,097 560.0p
02.06.06 104,585 – – – 560.0p 02.06.09
104,585
Notes:
1. On demerger, GUS PSP awards made in 2005 and 2006 were replaced with equivalent awards over Experian shares.
2. John Peace’s employment with Experian Finance plc (formerly GUS plc) ended on 31 March 2007. Under the rules of the GUS PSP, all outstanding awards were
time pro-rated to 31 March 2007 and the pro-rated gures are shown in the table above. The awards will vest, subject to the achievement of the performance
condition, on the vesting date specied.
3. David Tyler’s awards were rolled over on the basis described in note 3 to the share options table.
4. Awards made in May 2005 were subject to the TSR performance condition described above. Over the performance period, Experian’s TSR was at the median
of that of the comparator group and so 40% of the shares awarded in 2005 vested on 19 November 2008 when the Experian share price was 329.25p. Dividend
equivalents were paid to Paul Brooks, John Peace, Don Robert and David Tyler on their vested shares. They received £5,600, £19,198, $41,985 and £19,524
respectively.
5. The performance period in respect of the awards made in June 2006 runs from 1 April 2006 to 31 March 2009. In respect of awards made in October 2006, the
performance period for the TSR element of the award is 11 October 2006 to 11 October 2009 and for the PBT element 1 April 2006 to 31 March 2009.
Governance
Report on directors’ remuneration continued