Marks and Spencer 2007 Annual Report Download - page 74

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1122 SSHHAARREE--BBAASSEEDD PPAAYYMMEENNTTSS continued
Outstanding options granted under the United Kingdom Employees’ Save As You Earn Option Scheme are as follows:
Weighted average remaining
Number of options contractual life (years) Option
Options granted 2
20000772006 220000772006 price
January 1999 –
–164,580 ––0.3 332244pp
January 2000 1
16611,,4411003,295,357 00..331.3 222233pp
January 2001 3
3,,994488,,7711224,485,640 11..332.1 115566pp
January 2002 2
22277,,4477993,775,553 00..331.3 225500pp
January 2003 3
3,,449955,,8800993,923,986 11..332.1 228833pp
January 2004 4
4,,4
48844,,5588119,238,136 22..222.2 222288pp
January 2005 6
6,,883344,,4422447,199,193 22..333.3 228800pp
January 2006 7
7,,771133,,6611668,321,180 33..114.1 334499pp
January 2007 6
6,,337755,,558855–44..00–555599pp
3333,,224411,,66116640,403,625 22..552.6 332288pp
B
BEExxeeccuuttiivvee SShhaarree OOppttiioonn SScchheemmee
Under the terms of the Executive Share Option Scheme, last approved by shareholders in 2005, 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 any schemes other than the 2005 scheme.
No awards have been made under the 2005 scheme. Further details are set out in the Remuneration report on page 46.
Performance targets are assessed over a three-year period from the date of grant with no ability to re-test any grants. Once options
have vested they can be exercised during the period up to ten years from grant date.
220000772006
N
Nuummbbeerr ooffWWeeiigghhtteedd aavveerraaggeeNumber of Weighted average
ooppttiioonnsseexxeerrcciissee pprriicceeoptions exercise price
Outstanding at beginning of the period 1
188,,113355,,446666333333..55pp31,690,916 335.2p
Granted –
–––1,491,046 352.0p
Exercised (
(55,,552222,,001188))331166..66pp(9,683,033) 324.8p
Forfeited (
(558899,,778811))333344..88pp(4,338,398) 352.2p
Expired (
(66,,555500))445588..00pp(1,025,065) 414.0p
Outstanding at end of the period 1
122,,001177,,111177334411..22pp18,135,466 333.5p
Exercisable at end of period 3
3,,553377,,447711332288..44pp2,841,565 374.4p
For executive share options exercised during the period, the weighted average share price at the date of exercise was 632.3p
(last year 423.4p).
Notes to the financial statements continued
7
722MARKS AND SPENCER GROUP PLC wwwwww..mmaarrkkssaannddssppeenncceerr..ccoomm//aannnnuuaallrreeppoorrtt22000077