Experian 2010 Annual Report Download - page 133
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131
Introduction
2 – 11
Business review
12 – 51
Governance
52 – 84
Financial statements
85 – 160
29. Share-based payment arrangements
The Group has a number of equity settled, share-based employee incentive plans. Option, award and share prices are disclosed
in sterling as this is the currency in which the price of ordinary shares in Experian plc is quoted.
(a) Share options
(i) Summary of arrangements
Experian Share Option Plan Experian Sharesave Plans
Nature Grant of options ‘Save as you earn’ plans
Vesting conditions:
– Service period 3 and 4 years 1 year for US plan
3 or 5 years for other plans
– Performance/Other n/a1Saving obligation over the vesting period
Maximum term 10 years 1, 3.5 or 5.5 years
Method of settlement Share distribution Share distribution
Expected departures
(at grant date)
5% 1 year3 - 5%
3 years3 - 30%
5 years3 - 50%
Option exercise price
calculation2
Market price over the
3 dealing days preceding
the grant
15% discount to market price on the date of grant for US
plan
20% discount to market price over 3 dealing days
preceding the grant for other plans
1. Options granted to directors of the Company after 1 April 2009 have been subject to performance conditions based on the growth in benchmark earnings per
share.
2. Three day averages are calculated by taking middle market quotations of an Experian plc share from the London Stock Exchange daily ofcial list.
3. The stated values for expected departures include an assumption about participants who will not meet the savings requirement of the plans.
4. In addition, fully vested options exist under The North America Stock Option Plan, a former GUS share option plan, and these had a maximum term of six years
from the date of grant.