HSBC 2010 Annual Report Download - page 213

211
Overview Operating & Financial Review Governance Financial Statements Shareholder Information
HSBC Bank Bermuda: Directors’ Share Option Plan
HSBC Holdings ordinary shares of US$0.50
Dates of award
Exercise price
(US$) Exercisable
At
1 Jan
Exercised
during
Lapsed
during
At
31 Dec
from to from to from to 2010 year year 2010
28 Mar
2001
30 Apr
2003 10.66 13.95
28 Mar
2002
30 Apr
2013 40,515 – 14,349 26,166
HSBC InvestDirect (India) Limited
When it was acquired in 2008, HSBC InvestDirect
(India) Limited, formerly IL&FS Investsmart
Limited, operated an employee share option plan.
Under the plan, the options vested one year from the
date of grant in equal tranches over three years. The
exercise period is a maximum of seven years from
the date of vesting. Following the acquisition, all
outstanding options vested on 18 November 2008.
No further options will be granted under this plan.
HSBC InvestDirect (India) Limited: Employee Stock Option Scheme 2006
HSBC InvestDirect (India) ordinary shares of Rs10
Exercisable
Date of award
Exercise
price
(Rs) from to
At
1 Jan
2010
Exercised
during
year1
Lapsed
during
year
At
31 Dec
2010
19 Nov 2007 180 18 Nov 2002 17 Nov 2015 873,000 873,000 – –
1 The weighted average closing price of the shares, as quoted on the Bombay Stock Exchange Limited and the National Stock Exchange of
India Limited, immediately before the dates on which options were exercised was Rs298.76 and Rs297.73 respectively for those shares
exercised before trading in the shares ceased on 8 July 2010. The Company was delisted from the Bombay Stock Exchange Limited and
the National Stock Exchange of India Limited on 15 July 2010.
Employee compensation and benefits
Note 7 on the Financial Statements gives details
about employee compensation and benefits including
pension plans.
Set out below is information in respect of the
five individuals (including two Directors of HSBC
Holdings) whose emoluments were the highest in
HSBC for the year ended 31 December 2010.
Emoluments of 5 highest paid employees
£000
Basic salaries, allowances and benefits in
kind .......................................................... 3,874
Pension contributions .................................. 807
Bonuses paid or receivable .......................... 29,339
Inducements to join paid or receivable ....... 288
Compensation for loss of office .................. –
Total ............................................................. 34,308
Total (US$000) ............................................ 52,983
Their emoluments were within the following
bands:
Number of
employees
£6,300,001 – £6,400,000 ............................. 3
£6,800,001 – £6,900,000 ............................. 1
£8,400,001 – £8,500,000 ............................. 1
In accordance with the agreement made between
the major UK banks and the UK Government on
9 February 2011 (Project Merlin), set out below is
information in respect of the five highest paid
senior executives (who are members of the GMB,
but not Directors of HSBC Holdings plc) for the year
ended 31 December 2010.