Singapore Airlines 2011 Annual Report Download - page 82

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SINGAPORE AIRLINES
080
REPORT BY THE BOARD OF DIRECTORS
5 Equity Compensation Plans of the Company (continued)
(i) Employee Share Option Plan (“ESOP”)
Details of the ESOP plan are disclosed in Note 5 to the financial statements.
At the end of the financial year, options to take up 43,213,533 unissued shares in the Company
were outstanding:
Number of options to subscribe for unissued ordinary shares
Balance at Balance at Exercise
Date of grant 1.4.2010 Cancelled Exercised 31.3.2011 price* Exercisable Period
3.7.2000 3,659,525 (2,822,737) (836,788) - $14.44 3.7.2001 - 2.7.2010
2.7.2001 1,864,063 (30,400) (365,548) 1,468,115 $9.75 2.7.2002 - 1.7.2011
1.7.2002 2,923,889 (42,275) (474,821) 2,406,793 $10.61 1.7.2003 - 30.6.2012
1.7.2003 1,986,948 (45,790) (243,967) 1,697,191 $8.13 1.7.2004 - 30.6.2013
1.7.2004 3,410,571 (45,885) (437,892) 2,926,794 $8.49 1.7.2005 - 30.6.2014
1.7.2005 6,363,163 (37,098) (862,137) 5,463,928 $9.07 1.7.2006 - 30.6.2015
3.7.2006 8,594,136 (29,855) (1,150,475) 7,413,806 $10.39 3.7.2007 - 2.7.2016
2.7.2007 11,444,550 (301,660) (13,015) 11,129,875 $16.51 2.7.2008 - 1.7.2017
1.7.2008 12,164,475 (175,568) (1,281,876) 10,707,031 $13.12 1.7.2009 - 30.6.2018
52,411,320 (3,531,268) (5,666,519) 43,213,533
* Following approval by the Company’s shareholders of the declaration of a special dividend of $0.50 on 31 July 2007,
the Board Compensation & Industrial Relations Committee approved a reduction of $0.50 in the exercise prices of the
share options outstanding on 2 August 2007. The said Committee approved another $1.71 reduction in the exercise
prices of the share options outstanding on 28 August 2009 following approval by the Company’s shareholders of
the dividend in specie of SATS shares on 31 July 2009. The exercise prices reflected here are the exercise prices after
such adjustments.
The details of options granted to and exercised by directors of the Company:
Aggregate options Aggregate options Aggregate
granted since exercised since options
Options commencement commencement of outstanding
granted during of scheme to end scheme to end of at end of
financial year of financial year financial year Options financial year
Name of participant under review under review under review lapsed under review
Goh Choon Phong - 444,075 124,800 - 319,275
No options have been granted to controlling shareholders or their associates, or parent group employees.
The options granted by the Company do not entitle the holders of the options, by virtue of such
holding, to any rights to participate in any share issue of any other company.
No options have been granted during the financial year as the last grant of the share options under the
ESOP was made in July 2008.