Singapore Airlines 2014 Annual Report Download - page 146
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144
NOTES TO THE FINANCIAL STATEMENTS
31 March 2014
SINGAPORE AIRLINES
5 Staff Costs (in $ million) (continued)
Share-based compensation expense (continued)
Share-basedincentiveplans
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
• ValueAddedper$Employment
Cost
• AbsoluteTotalShareholder
Return (TSR) outperform Cost
of Equity (COE)
• RelativeTSRagainstselected
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.
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.