HSBC 2006 Annual Report Download - page 290

HSBC HOLDINGS PLC
Directors’ Remuneration Report (continued)
Share plans
288
invitation date and those awarded since 2001 are
exercisable at a 20 per cent discount. Under the
Securities and Futures Ordinance of Hong Kong the
options are categorised as ‘unlisted physically settled
equity derivatives’. No options were awarded or
lapsed during the year and except as otherwise
indicated, no options were exercised during the year.
There are no performance criteria conditional upon
which the outstanding options are exercisable.
The market value of the ordinary shares at
29 December 2006 was £9.31. The highest and
lowest market values during the year were
£10.28 and £9.14. Market value is the mid-market
price derived from the London Stock Exchange
Daily Official List on the relevant date.
Under the Securities and Futures Ordinance of
Hong Kong, Performance Share awards under The
HSBC Share Plan and the HSBC Holdings
Restricted Share Plan 2000 are categorised as ‘the
interests of a beneficiary of a Trust’.
HSBC Holdings Savings-Related Share Option Plan
HSBC Holdings ordinary shares of US$0.50
(Audited)
Date of
award
Exercise
price (£)
Exercisable
from1
Exercisable
until
Options at
1 January
2006
Options
exercised
during year
Options
lapsed
during year
Options at
31 December
2006
D J Flint ................. 2 May 2002 6.3224 1 Aug 2007 31 Jan 2008 2,617 – – 2,617
M F Geoghegan ..... 10 Apr 2000 6.0299 1 Aug 2005 31 Jan 2006 559 5332 262 –
S K Green .............. 23 Apr 2003 5.3496 1 Aug 2008 31 Jan 2009 3,070 – – 3,070
1 May be advanced to an earlier date in certain circumstances, e.g. retirement.
2 Options over 533 shares were exercised on 31 January 2006 and options over 26 shares lapsed on that date. At the date of exercise, the
market value per share was £9.34.
The HSBC Share Plan
HSBC Holdings ordinary shares of US$0.50
(Audited)
Date of
award
Year in
which
awards
may vest
Awards at
1 January
2006
Awards
made
during
year1
Monetary
value of
awards made
during year
£000
Awards at
31 December
20062
Sir John Bond ......... 27 May 2005 2008 474,353 – – 495,521
D J Flint .................. 27 May 2005 2008 177,883 – – 185,821
6 Mar 2006 2009 – 161,458 1,600 167,220
M F Geoghegan ...... 27 May 2005 2008 237,177 – – 247,761
6 Mar 2006 2009 – 201,823 2,000 209,025
S K Green ............... 27 May 2005 2008 296,471 – – 309,701
6 Mar 2006 2009 – 252,278 2,500 261,280
A W Jebson ............. 27 May 2005 2008 167,803 – – 175,291
Vesting of these Performance Share awards is subject to the performance conditions described on page 281 being satisfied.
1 At the date of the award, 6 March 2006, the market value per share was £9.895.
2 Includes additional shares arising from scrip dividends.
HSBC Holdings Restricted Share Plan 2000
HSBC Holdings ordinary shares of US$0.50
(Audited)
Date of
award
Year in
which
awards
may vest
Awards at
1 January
2006
Awards
vested
during
year1
Monetary
value of
awards vested
during year
£000
Awards at
31 December
20061
Sir John Bond ............ 12 Mar 2001 2006 91,276 92,0632914 –
8 Mar 2002 2007 136,679 141,59731,318 –
5 Mar 2003 2008 182,406 188,96941,759 –
4 Mar 2004 2009 263,574 273,05842,583 –