Singapore Airlines 2006 Annual Report Download - page 101
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99
Singapore Airlines Annual Report 05/06
13 Share Capital (in $ million) (continued)
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”), which comprise the Senior Executive Share Option Scheme and the Employee Share Option Scheme for
senior executives and all other employees respectively, were approved by shareholders on 8 March 2000, 20 March 2000 and
9 February 2000 respectively.
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 respective companies’ ordinary shares on the SGX-ST for the fi ve market days immediately
preceding the date of grant.
Under the Employee Share Option Schemes, options will vest two years after the date of grant. Under the Senior Executive Share
Option Schemes, 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.
There are no cash settlement alternatives.
NOTES TO THE FINANCIAL STATEMENTS
31 March 2006