HSBC 2010 Annual Report Download - page 235

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Overview Operating & Financial Review Governance Financial Statements Shareholder Information
1 The performance conditions of the total shareholder return element of the award were partially met and the following part of the awards
vested on 31 March 2010, when the market value per share was £6.68: V H C Cheng, 82,957 shares; D J Flint, 124,273 shares;
A A Flockhart, 55,259 shares; M F Geoghegan, 282,440 shares; Lord Green, 211,830 shares; and S T Gulliver, 61,378 shares. The
following awards representing the fourth interim dividend for 2009 vested on 5 May 2010, when the market value per share was £6.53:
V H C Cheng, 812 shares; D J Flint, 1,216 shares; A A Flockhart, 540 shares; M F Geoghegan, 2,765 shares; Lord Green, 2,073
shares; and S T Gulliver, 601 shares. The market value per share on the date of the award, 5 March 2007, was £8.96.
2 The performance conditions for the earnings per share element and the remaining part of the total shareholder return element of the
award were not met and, under the terms of the Plan, the following awards were forfeited on 31 March 2010: V H C Cheng, 136,506
shares; D J Flint, 204,493 shares; A A Flockhart, 90,931 shares; M F Geoghegan, 464,757 shares; Lord Green, 348,568 shares; and
S T Gulliver, 100,998 shares. As a consequence, the fourth interim dividend for 2009 did not accrue on the forfeited shares.
3 Includes additional shares arising from scrip dividends.
4 Interest at 3 December 2010 – date of retirement.
Awards of Restricted Shares
HSBC Share Plan
(Audited)
HSBC Holdings ordinary shares of US$0.50
Awards made
during year1
Awards vested
during year2
Date of
award
Year in
which
awards
may vest
Awards
held on
1 Jan
2010 Number
Monetary
value Number
Monetary
value
Awards
held at
31 Dec
20103
£000 £000
V H C Cheng ....... 3 Mar 2008 20104 103,936 – – 104,616 713 –
2 Mar 2009 2012 493,545 – – – – 510,226
1 Mar 2010 2013 – 193,534 1,320 – – 198,773
D J Flint .............. 1 Mar 2010 2011-20135 – 307,917 2,100 – – 316,252
A A Flockhart ..... 31 Oct 2007 2010 64,621 – – 66,8066 434 –
3 Mar 2008 2011 15,064 – – – – 15,572
2 Mar 2009 2012 498,124 – – – – 514,960
1 Mar 2010 2011-20135 – 297,746 2,031 – – 305,806
M F Geoghegan .. 1 Mar 2010 2011-20135 – 586,510 4,000 – – 602,387
S T Gulliver ........ 5 Mar 2007 2008-20105 191,842 – – 193,099 1,317 –
3 Mar 2008 2009-20115 388,157 – – 202,986 1,384 192,796
1 Mar 2010 2011-20135 – 1,319,648 9,000 – – 1,355,371
I J Mackay .......... 31 Jul 2007 2009-20117 47,6798– – – – 47,679
31 Mar 2008 2011 46,2528– – – – 46,252
2 Mar 2009 2012 100,3098– – – – 100,309
1 Mar 2010 2011-20135 59,2628– – – – 59,262
Vesting of Restricted Share awards is normally subject to the Director remaining an employee on the vesting date. The vesting date may be
advanced to an earlier date in certain circumstances, e.g. death or retirement. Under the Securities and Futures Ordinance of Hong Kong,
interests in Restricted Share awards granted in 2007 and 2008 are categorised as the interests of a beneficiary of a trust and interests in
Restricted Share awards granted in 2009 and 2010 are categorised as the interests of a beneficial owner.
1 At the date of the award, 1 March 2010, the market value per share was £6.82.
2 At the date of vesting, 1 March 2010, the market value per share was £6.82. The market value per share on the dates of the awards,
5 March 2007 and 3 March 2008, was £8.96 and £7.90 respectively.
3 Includes additional shares arising from scrip dividends.
4 Vesting accelerated from 2011 to 2010.
5 33% of the award vests on each of the first and second anniversaries of the date of the award, with the balance vesting on the third
anniversary of the date of the award.
6 At the date of vesting, 29 October 2010, the market value per share was £6.49. The market value per share on the date of the award,
31 October 2007 was £9.51.
7 33% of the award vests on each of the second and third anniversaries of the date of the award with the balance vesting on the fourth
anniversary of the date of the award.
8 Interest at 3 December 2010 – date of appointment.
On behalf of the Board
J L Thornton
Chairman of Remuneration Committee 28 February 2011