Peachtree 2015 Annual Report Download - page 93

Deferred shares (audited information)
The outstanding awards granted to each executive director of the Company under The Sage Group Deferred Bonus Plan are as follows:
Director
Shares at
1 October
2014
number
Shares awarded
during
the year
number
Shares vested
during
the year
number
Shares lapsed
during
the year
number
Shares at
30 September
2015
number Vesting date
S Hare –11,047 – – 11,047 12 January 2018
Total –11,047 – – 11,047
Notes:
– Awards are not subject to further performance conditions once granted. The market price of a share on 12 January 2015, the date of the awards made in the year ended
30 September 2015, was 462.7p.
– No variations were made in the terms of the awards in the year.
There are limits on the number of newly issued and treasury shares that can be used to satisfy awards under the Group’s employee share schemes
in any 10-year period. The limits and the Group’s current position against those limits as at 24November(the last practicable date prior to publication
of this document) are set out below:
The Company has previously satisfied all awards under the Performance Share Plan through the market purchase of shares or transfer of treasury
shares and will continue to consider which is the most appropriate approach, based on the relevant factors at the time.
Limit Current position
5% of Group’s share capital can be used for discretionary share schemes 2.80%
10% of Group’s share capital can be used for all share schemes 3.62%
External appointments
Executive directors are permied, where appropriate and with Board approval, to take non-executive directorships with other organisations in order
to broaden their knowledge and experience in other markets and countries. Fees received by the directors in their capacity as directors of these
companies are retained, reflecting the personal responsibility they undertake in these roles. For the period of his directorship, Guy Berruyer was
a Non-executive Director of Meggi Plc. The Board recognises the significant demands that are made on executive and non-executive directors and
has therefore adopted a policy that no executive director should hold more than two directorships of other listed companies. The Board encourages
executive directors to limit other directorships to one listed company. Except in exceptional circumstances where approved in advance by the
Chairman of the Commiee, if an executive director holds non-executive positions at more than one listed company then only the fees from one
such company will be retained by the director.
No formal limit on other board appointments applies to non-executive directors under the policy but prior approval (not to be unreasonably withheld)
from the Chairman on behalf of the Board is required in the case of any new appointment. In the case of the Chairman, prior approval of the
Nomination Commiee is required on behalf of the Board.
Unexpired term of contract table
Director Date of contract
Unexpired term of contract on
30 September 2015, or on
date of contract if later Notice period under contract
Executive directors
S Kelly 5 November 2014 12 months 12 months from the Company and/or individual
S Hare 3 January 2014 12 months 12 months from the Company and/or individual
Non-executive directors
N Berke 1 July 2013 0.5 years 6 months from the Company or 1 month from individual
D H Brydon 6 July 2012 2 years 6 months from the Company and/or individual
J Howell 15 May 2013 1.5 years 6 months from the Company or 1 month from individual
R Markland 13 September 2015 1 year 6 months from the Company or 1 month from individual
D Hall 1 January 2014 1.5 years 6 months from the Company or 1 month from individual
I Kuznetsova 6 March 2014 1.5 years 6 months from the Company or 1 month from individual
The Sage Group plc | Annual Report & Accounts 2015 91
FINANCIAL STATEMENTSGOVERNANCESTRATEGIC REPORT