Singapore Airlines 2015 Annual Report Download - page 140
Download and view the complete annual report
Please find page 140 of the 2015 Singapore Airlines annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130 -
131 -
132 -
133 -
134 -
135 -
136 -
137 -
138 -
139 -
140 -
141 -
142 -
143 -
144 -
145 -
146 -
147 -
148 -
149 -
150 -
151
-
152
-
153
-
154
-
155
-
156
-
157
-
158
-
159
-
160
-
161
-
162
-
163
-
164
-
165
-
166
-
167
-
168
-
169
-
170
-
171
-
172
-
173
-
174
-
175
-
176
-
177
-
178
-
179
-
180
-
181
-
182
-
183
-
184
-
185
-
186
-
187
-
188
-
189
-
190
-
191
-
192
-
193
-
194
-
195
-
196
-
197
-
198
-
199
-
200
-
201
-
202
-
203
-
204
-
205
-
206
-
207
-
208
-
209
-
210
-
211
-
212
-
213
-
214
-
215
-
216
-
217
-
218
-
219
-
220
-
221
-
222
-
223
-
224
 |
 |
Notes to the Financial Statements
31 March 2015
5 Sta Costs (in $ million) (continued)
Share-based compensation expense (continued)
Share-based incentive plans (continued)
The details of the two plans are described below:
RSP/RSP 2014 PSP/PSP 2014
Plan Description 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.
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$EmploymentCost
• AbsoluteTotalShareholderReturn
(TSR) outperform Cost of Equity (COE)
• RelativeTSRagainstselectedairline
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 aircra.
Movement of share awards during the financial year
Number of Restricted Shares
Date of grant
Balance at
1.4.2014/
date of grant Adjustment* Modification^ Vested
Balance at
31.3.2015
RSP
22.07.2010 105,356 – – (105,356) –
01.07.2011 31,585 – 338 (16,707) 15,216
10.07.2012 555,423 (102,274) 5,301 (237,540) 220,910
15.07.2013 634,752 – 15,686 – 650,438
03.07.2014 672,452 – 16,621 – 689,073
1,999,568 (102,274) 37,946 (359,603) 1,575,637
*
Adjustment at the end of three-year performance period upon meeting performance targets and adjustments for number of days in service
for retirees.
^ Following approval by the Company’s shareholders of the declaration of a special dividend of $0.25 per share on 30 July 2014, the Board
Compensation and Industrial Relations Committee approved an increase in all restricted shares outstanding on 14 August 2014 under the RSP.
138 FINANCIAL