Singapore Airlines 2009 Annual Report Download - page 145

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13 Share Capital (in $ million) (continued)
Share-based incentive plans (continued)
Fair values of RSP and PSP (continued)
SIAEC RSP and SIAEC PSP (continued)
Number of Performance shares
Balance at
1.4.2008 / date Balance at
Date of grant of grant Cancelled 31.3.2009
SIAEC PSP
3.7.2006 31,100 - 31,100
2.7.2007 61,200 - 61,200
1.7.2008 128,500 - 128,500
220,800 - 220,800
Based on the Monte Carlo simulation model, the estimated fair value at date of grant for each share granted
under the SIAEC RSP ranges from $3.05 to $3.38 (2007-08: $4.19 to $4.38) and the estimated fair value at
date of grant for each share granted under the SIAEC PSP is $2.88 (2007-08: $3.53).
The number of contingent shares granted but not released as at 31 March 2009, were 1,294,528
(2008: 533,200) and 220,800 (2008: 92,300) for SIAEC RSP and SIAEC PSP respectively. Based on the
achievement factor, the actual release of the awards could range from zero to a maximum of 1,789,948
(2008: 639,840) and 395,450 (2008: 138,450) fully-paid ordinary shares of SIAEC, for SIAEC RSP and
SIAEC PSP respectively.
Share-based compensation expense
For the current fi nancial year, the Group has recorded $10.6 million (2007-08: $6.5 million) in respect of
the RSP and PSP based on the fair values determined on grant date and estimation of share grants that will
ultimately vest.
The total amount recognised in the profi t and loss account for share-based compensation transactions with
employees can be summarised as follows:
The Group
2008-09 2007-08
Share-based compensation expense
- Employee share option plan 58.0 67.4
- Restricted share plan 8.6 5.4
- Performance share plan 2.0 1.1
68.6 73.9