Singapore Airlines 2009 Annual Report Download - page 77

75
5 Options on Shares in the Company (continued)
(ii) Restricted Share Plan (“RSP”) and Performance Share Plan (“PSP”)
The RSP and PSP were approved by the shareholders of the Company on 28 July 2005, in addition to
the Employee Share Option Plan.
Depending on the achievement of pre-determined targets over a two-year period for the RSP and a
three-year period for the PSP, the fi nal number of restricted shares and performance shares awarded
could range between 0% and 120% of the initial grant of the restricted shares and between 0% and
150% of the initial grant of the performance shares.
Based on meeting stated performance conditions over a two-year performance period, 50% of the RSP
awards will vest. The balance will vest equally over the subsequent two years with fulfi lment of service
requirements. PSP awards will vest based on meeting stated performance conditions over a three-year
performance period.
At the date of this report, the Board Compensation & Industrial Relations Committee which administers
the RSP and PSP comprises the following directors:
Stephen Lee Ching Yen – Chairman
David Michael Gonski
James Koh Cher Siang
Sir Brian Pitman
No awards have been granted to controlling shareholders or their associates, or parent group employees
under the RSP and PSP.
No employee has received 5% or more of the total number of awards granted under the ESOP, RSP
and PSP.
The details of the shares awarded under RSP and PSP are as follows:
Number of Restricted shares
Balance at
1.4.2008/date Balance at
Date of grant of grant Adjustment* Vested Cancelled 31.3.2009
RSP
27.7.2006 260,505 41,226 (152,969) (9,013) 139,749
1.8.2007 527,805 - - (30,963) 496,842
1.7.2008 676,424 - - (25,812) 650,612
1,464,734 41,226 (152,969) (65,788) 1,287,203
* Adjustment at the end of two-year performance period upon meeting stated performance targets.