Marks and Spencer 2004 Annual Report Download - page 40

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Marks and Spencer Group plc
Notes to the financial statements continued
10. EMPLOYEES continued
E Executive Share Option Schemes
Under the terms of the current Scheme, approved by shareholders in 2002, the Board may offer options to purchase ordinary
shares in the Company to executive directors and senior employees at the market price on a date to be determined prior to
the date of the offer. No further options may be granted under the 1984, 1987 and 1997 Schemes. Outstanding options
under each of the 1984 and 1987 Schemes continue to be bound by the Maximum Option Value which is limited to four
times remuneration on exercise (further details are set out in the Remuneration Report on page 17). Outstanding options
granted under all executive share option schemes are as follows:
Number of shares Option
Options granted 2004 2003 price Option dates
(1984 Scheme)
May 1993 –725,149 341p May 1996 – May 2003
October 1993 –19,576 399p Oct 1996 – Oct 2003
May 1994 1,071,186 1,174,865 404p May 1997 – May 2004
October 1994 21,541 21,541 402p Oct 1997 – Oct 2004
May 1995 1,060,075 1,139,414 414p May 1998 – May 2005
May 1996 45,850 45,850 458p May 1999 – May 2006
November 1996 6,172 6,172 486p Nov 1999 – Nov 2006
June 1997 17,076 17,076 527p Jun 2000 – Jun 2007
(1987 Scheme)
May 1996 –1,097,040 458p May 1999 – May 2003
November 1996 –14,546 486p Nov 1999 – Nov 2003
June 1997 1,269,006 1,323,650 527p Jun 2000 – Jun 2004
(1997 Scheme – Tier 1)
June 1998 172,429 273,683 557p Jun 2001 – Jun 2008
November 1998 179,008 247,221 404p Nov 2001 – Nov 2008
June 1999 449,913 562,374 358p Jun 2002 – Jun 2009
November 1999 59,352 59,352 278p Nov 2002 – Nov 2009
January 2000 –360,655 305p Jan 2003 – Jan 2010
March 2000 1,992,337 1,992,337 261p Mar 2003 – Mar 2010
June 2000 –11,538 260p Jun 2003 – Jun 2010
(1997 Scheme – Tier 2)
June 1998 884,667 1,409,816 557p Jun 2003 – Jun 2008
November 1998 20,544 99,261 404p Nov 2003 – Nov 2008
June 1999 648,081 1,067,713 358p Jun 2004 – Jun 2009
November 1999 59,352 59,352 278p Nov 2004 – Nov 2009
January 2000 –360,655 305p Jan 2005 – Jan 2010
March 2000 1,992,337 1,992,337 261p Mar 2005 – Mar 2010
(2000 Scheme +3%)
September 2000 1,792,689 2,493,207 215p Sep 2003 – Sep 2010
December 2000 451,281 574,358 195p Dec 2003 – Dec 2010
March 2001 105,504 270,641 218p Mar 2004 – Mar 2011
June 2001 5,403,205 6,059,643 256p Jun 2004 – Jun 2011
July 2001 168,674 168,674 249p Jul 2004 – Jul 2011
December 2001 1,204,236 1,263,166 350p Dec 2004 – Dec 2011
(2000 Scheme +4%)
September 2000 1,839,642 2,511,067 215p Sep 2003 – Sep 2010
December 2000 435,897 443,358 195p Dec 2003 – Dec 2010
March 2001 105,504 270,641 218p Mar 2004 – Mar 2011
June 2001 2,734,313 3,264,203 256p Jun 2004 – Jun 2011
July 2001 156,626 156,626 249p Jul 2004 – Jul 2011
December 2001 985,798 1,027,586 350p Dec 2004 – Dec 2011
(2002 Scheme +3%)
June 2002 4,170,578 4,585,112 350p Jun 2005 – Jun 2012
November 2002 567,519 575,115 353p Nov 2005 – Nov 2012
January 2003 242,424 242,424 297p Jan 2006 – Jan 2013
March 2003 282,678 282,678 306p Mar 2006 – Mar 2013
March 2003 111,486 111,486 296p Mar 2006 – Mar 2013
June 2003 5,838,559 – 297p Jun 2006 – Jun 2013
November 2003 564,256 – 270p Nov 2006 – Nov 2013
(2002 Scheme +4%)
June 2002 3,515,049 3,900,988 350p Jun 2005 – Jun 2012
November 2002 330,546 338,142 353p Nov 2005 – Nov 2012
January 2003 222,222 222,222 297p Jan 2006 – Jan 2013
March 2003 272,875 272,875 306p Mar 2006 – Mar 2013
March 2003 101,351 101,351 296p Mar 2006 – Mar 2013
June 2003 5,082,684 – 297p Jun 2006 – Jun 2013
November 2003 349,173 – 270p Nov 2006 – Nov 2013