Singapore Airlines 2014 Annual Report Download - page 143

141
ANNUAL REPORT FY2013/14
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
FY2013/14 FY2012/13
Employee share option scheme - 0.2
Restricted share plan 3.2 3.4
Performance share plan 1.5 1.8
4.7 5.4
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 were granted for a term no longer than 10 years from the date of grant. The exercise price of the options was
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 vest two years after the date of grant.
Under the Senior Executive Share Option Scheme, options 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.