Peachtree 2013 Annual Report Download - page 87

Directors’ shareholdings and share interests (audited information)
Executive directors are required to hold 150% of their annual salary in the Company’s shares. Until this requirement is met, executive directors must
defer 20% of their bonus into shares, and retain (net of any shares sold to meet tax liability) 50% of shares received from deferred bonus, PSP and
exercise of options.
At the year end, Guy Berruyer met the requirement.
Interests in shares
The interests of each person who was a director of the Company as at 30 September 2013 (together with interests held by his or her connected
persons) were:
Director
Ordinary shares
at 30 September 2013
number
Ordinary shares
at 30 September 2012
number
G S Berruyer 705,232 663,360
D H Brydon 38,024 40,000
R Markland 4,753 5,000
N Berkett 28,000 –
J Howell 12,833 –
I Mason 9,506 10,000
M E Rolfe 9,506 10,000
Total 807,854 728,360
Notes:
– There have been no changes in the directors’ holdings in the share capital of the Company, as set out in the table above, between 30 September 2013 and the date of this report.
Details of the executive directors’ interests in outstanding share awards under the ESOS, PSP, Deferred shares and all-employee plans are set out below.
Executive share options (audited information)
The Group’s only executive share option scheme is the ESOS. In the year under review, executive directors did not receive grants under this scheme.
The outstanding executive share options granted to each director of the Company under the executive share option schemes, including the ESOS,
are as follows:
Director
Exercise price
per share
Shares under
option at
1 October
2012
number
Granted
during
the year
number
Exercised
during
the year
number
Lapsed
during
the year
number
Shares under
option at
30 September
2013
number Date exercisable
G S Berruyer 171.00p 175,438 –(175,438) ––24 December 2006 – 24 December 2013
198.00p 189,082 – – – 189,082 6 January 2008 – 6 January 2015
258.50p 122,630 – – – 122,630 10 January 2009 – 10 January 2016
270.00p 62,008 – – – 62,008 10 January 2010 – 10 January 2017
549,158 –(175,438) –373,720
P S Harrison 171.00p 128,654 –(128,654) ––24 December 2006 – 24 December 2013
198.00p 133,838 –(133,838) ––6 January 2008 – 6 January 2015
258.50p 96,324 –(96,324) ––10 January 2009 – 10 January 2016
270.00p 49,777 –(49,777) ––10 January 2010 – 10 January 2017
408,593 –(408,593) – –
Total 957,751 –(584,031) –373,720
Notes:
– No options were varied during the year.
– Options granted to all directors of the Company and its operating subsidiaries throughout the Group under the ESOS that became exercisable on or after 23 February 2003
but before 6 January 2008 were exercisable only if the percentage increase in the Company’s EPS exceeded RPI by at least 3% each year in the three-year period from grant,
i.e. by a total of 9%. If that target was not met at the end of the three-year period, then those options would only be exercisable if EPS growth exceeded RPI by 12% over the
four-year period following the date of grant. The performance criteria for options which became exercisable on or after 6 January 2008 are based on EPS growth measured
over a fixed three-year period from the start of the financial year in which the grant was made. 30% of options would vest at the end of the period if the increase in EPS exceeded
RPI by 15% (an average of 5% per year) and 100% of those options would vest if RPI was exceeded in that period by 27% (an average of 9% per year). Between those points,
options vest on a straight-line basis. There was no further retesting.
– The market price of a share of the Company at 30 September 2013 was 330p and the lowest and highest market price during the year was 304p and 387p respectively.
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