Singapore Airlines 2010 Annual Report Download - page 127
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ANNUAL REPORT 2009/10
125
5 Staff Costs (in $ million) (continued)
Share-based compensation expense
The Company has in place the Singapore Airlines Limited Employee Share Option Plan (“ESOP”), Restricted Share Plan
(“RSP”) and Performance Share Plan (“PSP’) and the amounts recognised in the profit and loss account for share-based
compensation transactions with employees are as follows:
The Group
2009-10 2008-09
Employee share option plan 31.5 58.0
Restricted share plan 9.3 8.6
Performance share plan 2.7 2.0
43.5 68.6
Details of the plans are described in the following paragraphs.
Share option plans
The ESOP which comprises 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 and modified
at the Extraordinary General Meetings of the Company held on 14 July 2001, 26 July 2003 and 31 July 2009.
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 Company’s ordinary shares on the SGX-ST for the five market days
immediately preceding the date of grant.
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.
There are no cash settlement alternatives.