Singapore Airlines 2015 Annual Report Download - page 90

5 Equity Compensation Plans of the Company (continued)
(iv) Deferred RSP/RSP 2014 (continued)
(b) Deferred RSP 2014 Awards
Name of participant
Balance
as at
1 April 2014
Base
Awards
granted
during the
financial
year
Awards
vested
during the
financial
year Modification^
Balance
as at
31 March 2015
Aggregate
Base Awards
granted since
commencement
of DSA to end of
financial year
under review
Aggregate
ordinary shares
released to
participant since
commencement
of DSA to end of
financial year
under review
Goh Choon Phong – 19,570 – – 19,570 19,570 –
^ Following approval by the Company’s shareholders of a special dividend of $0.25 per share on 30 July 2014, the Board Compensation
& Industrial Relations Committee approved an increase in all restricted and performance shares outstanding on 14 August 2014 under
the RSP/RSP 2014 and PSP/PSP 2014.
R1 The actual number of RSP Final Awards of fully paid ordinary shares will range from 0% to 150% of the Base Awards and is contingent
on the Achievements against Targets over the two-year performance periods relating to the relevant awards.
R2 The actual number of PSP Final Awards of fully paid ordinary shares will range from 0% to 200% of the Base Awards and is contingent
on the Achievements against Targets over the three-year performance periods relating to the relevant awards.
#
Final Awards granted during the financial year is determined by applying the achievement factor to the Base Awards that have vested
during the financial year.
* 14,570 PSP Final Awards of fully paid ordinary shares were released to Mr Goh Choon Phong pursuant to the vesting of 58,254 PSP Base
Awards during the financial year.
6 Equity Compensation Plans of Subsidiaries
The particulars of the equity compensation plans of subsidiaries of the Company are as follows:
(i) SIA Engineering Company Limited (“SIAEC”)
The SIAEC Employee Share Option Plan (“SIAEC ESOP”) was approved by the shareholders of SIAEC on 9 February 2000. At
the end of the financial year, options to take up 18,982,713 unissued shares in SIAEC were outstanding under the SIAEC ESOP.
The SIAEC Restricted Share Plan (“SIAEC RSP”) and SIAEC Performance Share Plan (“SIAEC PSP”) were approved by the
shareholders of SIAEC on 25 July 2005. At the Extraordinary General Meeting of SIAEC held on 21 July 2014, shareholders
of SIAEC approved the adoption of the SIAEC Restricted Share Plan 2014 (“SIAEC RSP 2014”) and the SIAEC Performance
Share Plan 2014 (“SIAEC PSP 2014”) to replace the SIAEC RSP and the SIAEC PSP, which were terminated following the
adoption of the SIAEC RSP 2014 and SIAEC PSP 2014. The termination of the SIAEC RSP and SIAEC PSP was without prejudice
to the rights of holders of awards outstanding under the SIAEC RSP and SIAEC PSP as at the date of such termination.
Details and terms of the SIAEC ESOP, SIAEC RSP/SIAEC RSP 2014 and SIAEC PSP/SIAEC PSP 2014 have been disclosed in
the Directors’ Report of SIAEC.
(ii) Tiger Airways Holdings Limited (“Tiger Airways”)
The Tiger Airways Share Options Scheme (“Tiger Airways ESOP”) was approved by the Tiger Airways Board of Directors on
24 April 2008. At the end of the financial year, 10,865 options were outstanding under the Tiger Airways ESOP.
The Tiger Airways Long Term Incentive Plan (“the LTIP”) was approved by shareholders of Tiger Airways on 30 July 2010.
Pursuant to the approval of the LTIP, employees are eligible to participate in the Tiger Airways Restricted Share Plan (“Tiger
Airways RSP”) and Tiger Airways Performance Share Plan (“Tiger Airways PSP”).
Details and terms of the Tiger Airways ESOP, Tiger Airways RSP and Tiger Airways PSP have been disclosed in the Directors’
Report of Tiger Airways.
Report by the Board of Directors
88 FINANCIAL