Singapore Airlines 2005 Annual Report Download - page 61

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SIA Annual Report 04/05 59
CC
฀MOD: CN1323
M Y
C K
While every effort has been taken to carry out instruction to customers satisfaction
NO RESPONSIBILITY liablilty will be accepted for errors
CUSTOMERS ARE THEREFOREURGED TO CHECK THOROUGHLY BEFORE
AUTHORISING PRINTRUNS
DALIM
1 2 3 4 5 6 7 8 9 10 OK TS
CC196777 DLMAC13 10.06.2005 150#
1
3col
5 Options on Shares in the Company (continued)
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.
At the date of this report, the Board Compensation and Organisation Committee which administers the Plan comprises
the following directors:
Koh Boon Hwee – Chairman
Fock Siew Wah
Sir Brian Pitman
Stephen Lee Ching Yen (appointed to the Committee on 14 May 2004)
No options have been granted to controlling shareholders or their associates, or parent group employees.
No employee has received 5% or more of the total number of options available under the Plan.
The options granted by the Company do not entitle the holders of the options, by virtue of such holding, to any rights
to participate in any share issue of any other company.
During the financial year, in consideration of the payment of $1.00 for each offer accepted, offers of options were
granted pursuant to the Plan in respect of 12,879,325 unissued shares of $0.50 each in the Company at an exercise
price of $10.70 per share.
At the end of the financial year, options to take up 74,338,615 unissued shares of $0.50 each in the Company were
outstanding:
Number of options to subscribe for
unissued ordinary shares of $0.50 each
––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
Balance at
1.4.2004/later Balance at Exercise
Date of grant date of grant Cancelled Exercised 31.3.2005 price Exercisable period
–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
28.3.2000 12,842,210 (318,200) – 12,524,010 $15.34 28.3.2001 – 27.3.2010
3.7.2000 11,640,470 (266,250) – 11,374,220 $16.65 3.7.2001 – 2.7.2010
2.7.2001 12,890,585 (352,585) (9,700) 12,528,300 $11.96 2.7.2002 – 1.7.2011
1.7.2002 13,356,527 (397,195) – 12,959,332 $12.82 1.7.2003 – 30.6.2012
1.7.2003 12,742,035 (358,893) (85,324) 12,297,818 $10.34 1.7.2004 – 30.6.2013
1.7.2004 12,879,325 (224,390) – 12,654,935 $10.70 1.7.2005 – 30.6.2014
–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
76,351,152 (1,917,513) (95,024) 74,338,615
–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
Report by the Board of Directors