Singapore Airlines 2013 Annual Report Download - page 87
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085
ANNUAL REPORT 2012/13
5 Equity Compensation Plans of the Company (continued)
(ii) Restricted Share Plan (“RSP”) and Performance Share Plan (“PSP”)
Details of the RSP and PSP are disclosed in Note 5 to the financial statements.
The RSP and PSP were approved by the shareholders of the Company on 28 July 2005.
Under the RSP and PSP, a base number of conditional share awards (“Base Award”) is granted to eligible participants
annually. Depending on the achievement of pre-determined targets over a two-year performance period for the RSP
and a three-year performance period for the PSP, the Board Compensation & Industrial Relations Committee will
determine an achievement factor which will then be applied to the Base Award to determine the final number of
RSP shares and PSP shares to be awarded at the end of the respective performance periods (“Final Award”). The
achievement factor could range from 0% to 150% for the RSP and from 0% to 200% for the PSP.
Half of the RSP Final Awards of fully paid ordinary shares will be released to the participants upon vesting. The balance
will be released equally over the subsequent two years with fulfilment of service requirements. All the PSP Final Awards
of fully paid ordinary shares will be released to the participants at the end of the three-year performance period. For
the financial year under review, all RSP and PSP Final Awards released were satisfied by the transfer of treasury shares
to the participants.
No awards have been granted to controlling shareholders or their associates, or parent group directors or employees
under the RSP and PSP.
No employee has received 5% or more of the total number of options or awards granted under the ESOP, RSP and PSP.
The details of the shares awarded under RSP and PSP to directors of the Company are as follows:
1. RSP Base Awards
Aggregate
Base Awards
granted since
Base Awards Base Awards commencement
granted vested Balance as at of RSP to end of
during the during the 31 March financial year
Name of participant financial year financial year 2013 under review
Goh Choon Phong 42,000 18,005 84,366 157,256
2. RSP Final Awards (Pending Release) R1
Aggregate
ordinary shares
released to
participant since
Final Awards Final Awards commencement
granted released Balance as at of RSP to end of
during the during the 31 March financial year
Name of participant financial year# financial year 2013 under review
Goh Choon Phong 17,470 16,370 12,206 56,828