Singapore Airlines 2009 Annual Report Download - page 139
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137
13 Share Capital (in $ million) (continued)
Share option plans (continued)
Share-based incentive plans
The Restricted Share Plan (“RSP”) and Performance Share Plan (“PSP”) are share-based incentive plans for
senior executives and key senior management, which were approved by the shareholders of the Company
on 28 July 2005. Similar share-based incentive plans were approved by the shareholders of SATS and
SIAEC on 19 July 2005 and 25 July 2005 respectively.
The details of the two plans are described below:
RSP PSP
Plan Description Award of fully-paid ordinary shares of the Award of fully-paid ordinary shares
Company, conditional on position and of the Company, conditional on
individual performance targets set at performance targets set at the start of
the start of a two-year performance period a three-year overlapping performance
based on medium-term Group and period based on stretched long-term
Company objectives. corporate objectives.
Performance Conditions
SIA At both Company and Group level
• EBITDAR# Margin • Absolute Total Shareholder Return
(TSR) outperform Cost of Equity (COE)
• Value Added per $ Employment Cost • Relative TSR against selected airline
peer index companies
SATS At SATS Group level
• EBITDA* Margin • Absolute TSR
• Value Added per $ Employment Cost • Absolute Return on Equity (ROE)
SIAEC At SIAEC Group level
• EBITDA* Margin • Absolute TSR outperform COE
• Value Added per $ Employment Cost • ROE
# EBITDAR denotes Earnings before Interest, Taxes, Depreciation, Amortisation and Rent
* EBITDA denotes Earnings before Interest, Taxes, Depreciation and Amortisation