Singapore Airlines 2015 Annual Report Download - page 88

5 Equity Compensation Plans of the Company (continued)
(i) ESOP (continued)
The options granted by the Company do not entitle the holders of the options, by virtue of such holding, to any rights to
participate in any share issue of any other company.
No options have been granted during the financial year as the last grant of the share options under the ESOP was made
in July 2008. The ESOP expired on 7 March 2010. The termination of the ESOP does not aect options which have been
granted and accepted in accordance with the ESOP.
(ii) RSP/RSP 2014 and PSP/PSP 2014
Details of the RSP/RSP 2014 and PSP/PSP 2014 are disclosed in Note 5 to the financial statements.
The RSP and PSP were approved by the shareholders of the Company on 28 July 2005. The duration of the RSP and PSP
was 10 years each, commencing 28 July 2005. The RSP and PSP were accordingly due to expire on 27 July 2015.
At the Extraordinary General Meeting held on 30 July 2014, shareholders approved the adoption of the RSP 2014 and
PSP 2014 to replace the RSP and PSP, which were terminated following the adoption of the RSP 2014 and PSP 2014. The
termination of the RSP and PSP was without prejudice to the rights of holders of awards outstanding under the RSP and PSP
as at the date of such termination. The duration of the RSP 2014 and PSP 2014 is 10 years each, commencing 30 July 2014.
Under the RSP/RSP 2014 and PSP/PSP 2014, a base number of conditional share awards (“Base Award”) was/is granted
to eligible participants annually. Depending on the achievement of pre-determined targets over a two-year performance
period for the RSP/RSP 2014 and a three-year performance period for the PSP/PSP 2014, the Board Compensation &
Industrial Relations Committee will determine an achievement factor which will then be applied to the Base Award to
determine the final number of RSP/RSP 2014 shares and PSP/PSP 2014 shares to be awarded at the end of the respective
performance periods (“Final Award”). The achievement factor could range from 0% to 150% for the RSP/RSP 2014 and
from 0% to 200% for the PSP/PSP 2014.
Half of the RSP/RSP 2014 Final Awards of fully paid ordinary shares will be released to the participants upon vesting. The
balance will be released equally over the subsequent two years with fulfilment of service requirements. All the PSP/PSP
2014 Final Awards of fully paid ordinary shares will be released to the participants at the end of the three-year performance
period. For the financial year under review, all RSP and PSP Final Awards released were satisfied by way of the transfer
of treasury shares to the participants.
No awards have been granted to controlling shareholders or their associates, or Parent Group Directors or employees
under the RSP/RSP 2014 and PSP/PSP 2014.
No employee has received 5% or more of the total number of options or awards granted under the ESOP, RSP and PSP, or
5% or more of the total number of shares available under the RSP 2014 and PSP 2014.
The details of the shares awarded under the RSP and PSP to a Director of the Company are as follows:
1. RSP Base Awards
Name of participant
Balance
as at
1 April 2014
Base
Awards
granted
during the
financial
year
Base
Awards
vested
during the
financial
year Modification^
Balance
as at
31 March 2015
Aggregate
Base Awards
granted since
commencement
of RSP to end of
financial year
under review
Goh Choon Phong 102,000 60,000 42,000 2,976 122,976 280,232
Report by the Board of Directors
86 FINANCIAL