Singapore Airlines 2015 Annual Report Download - page 87

4 Directors’ Contractual Benefits
Except as disclosed in the financial statements, since the end of the previous financial year, no Director of the Company has received
or become entitled to receive a benefit by reason of a contract made by the Company or a related corporation with the Director,
or with a firm of which the Director is a member, or with a company in which the Director has a substantial financial interest.
5 Equity Compensation Plans of the Company
The Company has in place (or previously had in place) the SIA Employee Share Option Plan (“ESOP”), the SIA Restricted Share
Plan (“RSP”), the SIA Restricted Share Plan 2014 (“RSP 2014”), the SIA Performance Share Plan (“PSP”) and the SIA Performance
Share Plan 2014 (“PSP 2014”).
At the date of this report, the Board Compensation & Industrial Relations Committee which administers the ESOP, RSP, RSP
2014, PSP and PSP 2014 comprises the following Directors:
Stephen Lee Ching Yen – Chairman
Gautam Banerjee
Hsieh Tsun-yan
Helmut Gunter Wilhelm Panke
(i) ESOP
Details of the ESOP are disclosed in Note 5 to the financial statements.
At the end of the financial year, options to take up 25,233,029 unissued shares in the Company were outstanding:
Number of options to subscribe for unissued ordinary shares
Date of grant
Balance at
1.4.2014 Cancelled Exercised
Balance at
31.3.2015
Exercise
price * Exercisable Period
1.7.2004 1,680,405 (479,154) (1,201,251) – $7.69 1.7.2005 – 30.6.2014
1.7.2005 3,971,409 (57,565) (1,454,214) 2,459,630 $8.02 1.7.2006 – 30.6.2015
3.7.2006 5,685,863 (153,402) (754,656) 4,777,805 $9.34 3.7.2007 – 2.7.2016
2.7.2007 10,149,489 (761,402) – 9,388,087 $15.46 2.7.2008 – 1.7.2017
1.7.2008 9,322,678 (665,958) (49,213) 8,607,507 $12.07 1.7.2009 – 30.6.2018
30,809,844 (2,117,481) (3,459,334) 25,233,029
* Following approval by the Company’s shareholders of the declaration of a special dividend of $0.50 per share on 31 July 2007, the Board
Compensation & Industrial Relations Committee approved a reduction of $0.50 in the exercise prices of the share options outstanding on
2 August 2007. The said Committee approved another $1.71 reduction in the exercise prices of the share options outstanding on 28 August
2009 following approval by the Company’s shareholders of the dividend in specie of SATS shares on 31 July 2009. The said Committee
approved another reduction of $0.80 in the exercise prices of the share options outstanding on 18 August 2011 and a further $0.25 reduction
in the exercise prices outstanding on 14 August 2014 aer the approvals by the Company’s shareholders of the declaration of a special
dividend of $0.80 and $0.25 per share on 29 July 2011 and 30 July 2014 respectively. The exercise prices reflected here are the exercise prices
aer such adjustments.
The details of options granted to and exercised by a Director of the Company are as follows:
Name of participant
Options
granted during
financial year
under review
Aggregate
options
granted since
commencement of
scheme to end of
financial year
under review
Aggregate
options
exercised since
commencement of
scheme to end of
financial year
under review Options lapsed
Aggregate
options
outstanding
at end of financial
year under review
Goh Choon Phong – 444,075 444,075 – –
No options have been granted to controlling shareholders or their associates, or Parent Group Directors or employees.
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