Singapore Airlines 2012 Annual Report Download - page 136

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134 SINGAPORE AIRLINES
Notes to the Financial Statements
31 March 2012
5 Staff Costs (in $ million) (continued)
Share-based compensation expense (continued)
Share-based฀incentive฀plans
RSP and 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.
The details of the two plans are described below:
Plan Description
RSP
Award of fully-paid ordinary shares
of the Company, conditional on
position and individual performance
targets set at the start of a two-year
performance period based on
medium-term Group and Company
objectives.
PSP
Award of fully-paid ordinary shares
of the Company, conditional on
performance targets set at the start of
a three-year overlapping performance
period based on stretched long-term
corporate objectives.
Performance Conditions At both Company and Group level
•฀ EBITDAR# Margin
•฀ Value฀Added฀per฀$฀Employment฀
Cost
•฀ Absolute฀Total฀Shareholder฀
Return (TSR) outperform Cost
of Equity (COE)
•฀ Relative฀TSR฀against฀selected฀
airline peer index companies
Vesting Condition Based on meeting stated
performance conditions over a two-
year performance period, 50% of
award will vest. Balance will
vest equally over the subsequent
two years with fulfillment of service
requirements.
Vesting based on meeting stated
performance conditions over a
three-year performance period.
Payout 0% - 150% depending on the
achievement of pre-set
performance targets over the
performance period.
0% - 200% depending on the
achievement of pre-set
performance targets over the
performance period.
# EBITDAR denotes Earnings before Interest, Taxes, Depreciation, Amortisation and Rentals on leased aircraft.