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65
Tesco PLC Annual Report and Financial Statements 2013
OVERVIEW BUSINESS REVIEW PERFORMANCE REVIEW GOVERNANCE FINANCIAL STATEMENTS
Table 7 Executive Incentive Plan
Date of
award/
grant
Share price on
award (pence)
As at
25 February
2012
Shares
awarded/
options
granted
Shares
released/
options
exercised
As at
23 February
2013
Share price on
exercise/
release
(pence)
Value
realisable
£000
Date of
release/date
from which
exercisable
Richard Brasher 19.05.2009 351.16 134,584 – – 134,584 – – 19.05.2012
22.06.2010 388.05 206,987 – – 206,987 – – 22.05.2013
27.05.2011 411.75 155, 518 – – 155, 518 – – 13.05.2014
497,0 89 – – 497,089 – –
Philip Clarke 19.05.2009 351.16 134,584 4,777 139,361 – 311.125 434 19.05.2012
22.06.2010 388.05 206,987 10,899 – 217,8 86 – – 22.05.2013
27.05.2011 411.75 155, 518 8,188 – 163,706 – – 13.05.2014
497,0 89 23,864 139,361 381,592 – –
Andrew Higginson 19.05.2009 351.16 134,584 4,777 139,361 – 311.125 434 19.05.2012
22.06.2010 388.05 206,987 7, 347 – 214,334 – – 22.05.2013
27.05.2011 411.75 155, 518 5,520 – 161,038 – – 13.05.2014
25.05.2012 308.25 – 37,424 – 37,424 – – 25.05.2015
497,0 89 55,068 139,361 412,796 – –
Tim Mason 19.05.2009 351.16 276,849 9,827 286,676 –311.125 892 19.05.2012
22.06.2010 388.05 307,367 10,910 – 318, 277 – – 22.05.2013
27.05.2011 411.75 197,979 7,027 – 205,006 – – 13.05.2014
25.05.2012 308.25 –37,424 – 37,424 – – 25.05.2015
782,195 65,188 286,676 560,707 – –
Laurie McIlwee 22.06.2010 388.05 155,240 8,174 – 163,414 – – 22.05.2013
27.05.2011 411.75 155, 518 8,188 – 163,706 – – 13.05.2014
25.05.2012 308.25 –38,044 – 38,044 – – 25.05.2015
310,758 54,406 – 365,16 4 – –
Lucy Neville-Rolfe 19.05.2009 351.16 94,207 3,344 97, 551 – 311.125 304 19.05.2012
22.06.2010 388.05 155,240 8,174 – 163,414 – – 22.05.2013
27.05.2011 411.75 116,638 6,141 – 122,779 – – 13.05.2014
25.05.2012 308.25 –28,533 – 28,533 – – 25.05.2015
366,085 46,192 97,551 314,726 – –
Total 2,950,305 244,718 662,949 2,532,074
Executive Incentive Plan
• Awards are normally made in the form of nil cost options with the exception of Tim Mason’s awards which are in the form of an unfunded promise over shares. Awards made in 2009
were in the form of restricted shares.
• Awards are increased to reflect dividend equivalents as each dividend is paid.
• No options lapsed in the year.
Leaving provisions
• Where a Director ceased to be a Director of Tesco PLC in the year, the figures in this table are at the date on which they ceased to be a Director of Tesco PLC.
• As reported in last year’s report, Richard Brasher and David Potts were awarded deferred share bonuses of 13.54% of salary on 25 May 2012 in respect of the performance against
targets in 2011/12.
• Richard Brasher stepped down from the Board on 15 March 2012. His awards may be exercised for one year from the date that the award is due to become exercisable, three years
after the date of grant.
• Andrew Higginson retired from the Board on 1 September 2012. His awards may be exercised for one year after leaving the Company on 1 September 2012.
• Tim Mason stepped down from the Board on 5 December 2012. His awards will be released at the date that the award is due to become available, three years after the date of grant.
• Lucy Neville-Rolfe retired from the Board on 2 January 2013. Her awards may be exercised for one year after leaving the Company on 2 January 2013.