Singapore Airlines 2015 Annual Report Download - page 137
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5 Sta Costs (in $ million) (continued)
Share-based compensation expense
The Group has in place the Singapore Airlines Limited Employee Share Option Plan (“ESOP”), the SIA Engineering Company
Limited ESOP and the Pre-IPO Tiger Aviation Share Options Scheme, Singapore Airlines Limited Restricted Share Plan (“RSP”)
and Performance Share Plan (“PSP”), the SIA Engineering Company Limited RSP and PSP, Tiger Airways Group RSP, PSP and CEO
Restricted Share Grant and the amounts recognised in the profit and loss account for share-based compensation transactions
with employees are as follows:
The Group
FY2014/15 FY2013/14
Restricted share plan 7.5 3.2
Performance share plan 1.7 1.5
9.2 4.7
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 8March 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 aer the date of grant.
Under the Senior Executive Share Option Scheme, options vest:
(a) one year aer the date of grant for 25% of the ordinary shares subject to the options;
(b) two years aer the date of grant for an additional 25% of the ordinary shares subject to the options;
(c) three years aer the date of grant for an additional 25% of the ordinary shares subject to the options; and
(d) four years aer the date of grant for the remaining 25% of the ordinary shares subject to the options.
There are no cash settlement alternatives.
Singapore Airlines | Annual Report FY2014/15 |135