Singapore Airlines 2002 Annual Report Download - page 94

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94
Notes to the Financial Statements
31 March 2002
SIA Annual Report 01/02
31 Employee Benefits
The Group The Company
31 March 31 March
2002 2001 2002 2001
Number of employees at 31 March 29,515 29,114 14,254 14,744
Staff costs (including Executive Directors) (in $ million)
Salary, bonuses and other costs 1,629.2 1,949.2 1,046.9 1,269.6
CPF and other defined contributions 150.0 144.2 82.0 77.4
1,779.2 2,093.4 1,128.9 1,347.0
Share option plans
The Singapore Airlines Limited Employee Share Option Plan (SIA ESOP), the Singapore Airport Terminal Services Limited Employee
Share Option Plan (SATS ESOP) and the SIA Engineering Company Limited Employee Share Option Plan (SIAEC ESOP) grant options
to senior executives and all other employees. Options are granted for a term no longer than 10 years from the date of grant. The
exercise price of the options will be the average of the closing prices of the Company’s ordinary shares on the SGX-ST for the five
market days immediately preceding the date of grant.
Under the Employee Share Option Scheme, options will vest two years after the date of grant. Under the Senior Executive Share
Option Scheme, options will vest:-
(a) one year after the date of grant for 25% of the ordinary shares subject to the options;
(b) two years after the date of grant for an additional 25% of the ordinary shares subject to the options;
(c) three years after the date of grant for an additional 25% of the ordinary shares subject to the options; and
(d) four years after the date of grant for the remaining 25% of the ordinary shares subject to the options.
Information with respect to the number of options granted under the respective Employee Share Option Plans is as follows:
SIA ESOP SATS ESOP SIAEC ESOP
2002 2001 2002 2001 2002 2001
Outstanding at 1 April 25,668,300 13,562,150 32,452,600 18,435,900 29,339,600 15,204,050
Granted 13,348,840 12,258,890 15,350,200 14,788,900 15,516,700 14,246,950
Exercised ––––––
Cancelled (447,220) (152,740) (492,100) (119,900) (277,900) (27,200)
Adjustments – – – (652,300) – (84,200)
Outstanding at 31 March 38,569,920 25,668,300 47,310,700 32,452,600 44,578,400 29,339,600
Exercisable at 31 March 12,210,541 1,288,237 17,959,200 275,150 14,997,511 322,012
Details of share options granted during the financial year:-
SIA ESOP SATS ESOP SIAEC ESOP
2002 2001 2002 2001 2002 2001
Expiry date 1.7.2011 2.7.2010 1.7.2011 2.7.2010 1.7.2011 2.7.2010
Exercise price $11.96 $16.65 $1.54 $2.10 $1.41 $1.95