Marks and Spencer 1998 Annual Report Download - page 60

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E SENIOR STAFF SHARE OPTION SCHEMES
Under the terms of the 1984 and 1987 Schemes, following the announcement of the Company Õs results, the Board may offer options to
purchase ordinary shares in the Company to ex ecutive directors and senior employees at the higher of the nominal value of the shares
and the market price on a date to be determined prior to the date of the offer. Although options may be granted under each of the 1984
and 1987 Schemes, the Max imum Option Value that can be ex ercised under both Schemes is limited to four times remuneration (see
Repor t of the Remuneration Committee on page 42). Outstanding options granted under all senior Schemes are as follows:
Number of shares
Options granted 1998 1997
Option price
Option dates
(1984 Scheme)
May 1988 69,310 193,816 176p May 1991 Ð May 1998
May 1989 222,214 267,142 175p May 1992 Ð May 1999
May 1990 254,549 464,826 206p May 1993 Ð May 2000
May 1991 971,263 1,841,988 254p May 1994 Ð May 2001
May 1992 1,919,830 2,522,784 329p May 1995 Ð May 2002
May 1993 1,335,719 1,552,147 341p May 1996 Ð May 2003
October 1993 26,989 61,026 399p Oct 1996 Ð Oct 2003
May 1994 1,987,916 2,209,166 404p May 1997 Ð May 2004
October 1994 21,541 21,541 402p Oct 1997 Ð Oct 2004
May 1995 1,690,884 1,742,198 414p May 1998 Ð May 2005
May 1996 58,950 65,500 458p May 1999 Ð May 2006
November 1996 6,172 6,172 486p Nov 1999 Ð Nov 2006
June 1997 51,228 Ð 527p June 2000 Ð June 2007
(1987 Scheme)
May 1990 20,638 337,835 206p May 1993 Ð May 1997
May 1991 250,283 1,029,445 254p May 1994 Ð May 1998
May 1992 695,498 1,186,389 329p May 1995 Ð May 1999
May 1993 1,006,686 1,258,589 341p May 1996 Ð May 2000
October 1993 46,114 61,026 399p Oct 1996 Ð Oct 2000
May 1994 1,197,469 1,329,032 404p May 1997 Ð May 2001
October 1994 9,288 17,288 402p Oct 1997 Ð Oct 2001
May 1995 1,565,124 1,602,428 414p May 1998 Ð May 2002
May 1996 1,792,964 1,883,325 458p May 1999 Ð May 2003
November 1996 39,507 39,507 486p Nov 1999 Ð Nov 2003
June 1997 2,179,474 Ð 527p June 2000 Ð June 2004
A EMOLUMENTS
Details of directorsÕ emoluments are given in the Repor t of the Remuneration Committee on pages 38 to 44.
B TRANSACTIONS WITH DIRECTORS
During the year there was no contract of significance to which the Company, or one of its subsidiaries, was a par ty and in which a
director of the Company was materially interested.
9EMPLOYEES continued
10 DIRECTORS
NO TES TO TH E FIN AN CIAL STATEM EN TS
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