HSBC 2015 Annual Report Download - page 316

Directors’ Remuneration Report (continued)
Annual report on remuneration
HSBC HOLDINGS PLC
314
Directors’ interests in shares
(Audited)
The shareholdings of all persons who were Directors in
2015 (including the shareholdings of their connected
persons) at 31 December 2015 are set out below. The table
below shows the comparison of shareholdings to the
company shareholding guidelines.
Shares
(Audited)
At 31 December 2015
Scheme interests
Shareholding
guidelines
(number of
shares)2
Share
interests
(number of
shares)
Share
options3
Shares awarded subject to deferral1
without
performance
conditions4
with
performance
conditions
Executive Directors
Douglas Flint 400,000 401,450 2,919
–
–
Stuart Gulliver 750,000 2,861,265
–
2,955,619 92,185
Iain Mackay 450,000 223,872 3,469 1,187,436 63,730
Marc Moses 450,000 624,643
–
1,484,903 61,917
Group Managing Directors5 250,000 n/a n/a n/a n/a
Non-executive Directors6
Phillip Ameen 15,000 5,000 n/a n/a n/a
Kathleen Casey 15,000 3,540 n/a n/a n/a
Safra Catz7 15,000 20,970 n/a n/a n/a
Laura Cha 15,000 5,200 n/a n/a n/a
Lord Evans of Weardale 15,000 7,416 n/a n/a n/a
Joachim Faber 15,000 45,778 n/a n/a n/a
Rona Fairhead 15,000 77,888 n/a n/a n/a
Sam Laidlaw 15,000 38,012 n/a n/a n/a
John Lipsky 15,000 16,165 n/a n/a n/a
Rachel Lomax 15,000 18,900 n/a n/a n/a
Heidi Miller 15,000 3,695 n/a n/a n/a
Sir Simon Robertson 15,000 34,118 n/a n/a n/a
Jonathan Symonds 15,000 21,771 n/a n/a n/a
1 The gross number of shares is disclosed. A portion of these shares will be sold at vesting to cover any income tax and social security which falls due at
the time of vesting.
2 The current shareholding guideline does not count unvested share-based incentives.
3 All share options are unvested and unexercised.
4 Includes GPSP awards which are made following an assessment of performance over the relevant period ending on 31 December immediately before
the grant date but are subject to a five-year vesting period.
5 All of the Group Managing Directors are expected to meet their minimum shareholding guideline by 2019 or within five years of the date of their
appointment, whichever is later.
6 Irene Lee and Pauline van der Meer Mohr did not hold any HSBC Holdings plc shares during the year.
7 Retired as a Director on 31 December 2015.
Share options
(Audited)
Exercisable At 1 Jan Exercised At 31 Dec
Date of award Exercise price From1until 2015 in year 2015
Douglas Flint 24 Apr 2012 4.4621 1 Aug 2015 1 Feb 2016 2,016 2,016
–
Douglas Flint 23 Sep 2014 5.1887 1 Nov 2019 1 May 2020 2,919
–
2,919
Iain Mackay 23 Sep 2014 5.1887 1 Nov 2017 1 May 2018 3,469
–
3,469
1 May be advanced to an earlier date in certain circumstances, e.g. retirement.
The HSBC Sharesave is an all-employee share plan under
which eligible employees may be granted options to
acquire HSBC Holdings ordinary shares. Employees may
make contributions of up to £500 (or equivalent) each
month over a period of three or five years which may be
used on or around the third or fifth anniversary of the
commencement of the relevant savings contract, at the
employee’s election, to exercise the options. The plans
help align the interests of employees with the creation
of shareholder value. The options were awarded for nil
consideration and are exercisable at a 20% discount to the
average market value of the ordinary shares on the five
business days immediately preceding the invitation date.
There are no performance criteria conditional upon which
the outstanding options are exercisable and there have
been no variations to the terms and conditions since the
awards were made. The market value per ordinary share
at 31 December 2015 was £5.3620. The market value per
ordinary share at the time Douglas Flint exercised his
options during the year was £5.5620. 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, the options are
categorised as unlisted physically settled equity derivatives.