Twenty-First Century Fox 2003 Annual Report Download - page 58

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The News Corporation Limited56
Directors’ Report (continued)
FOR THE YEAR ENDED 30 JUNE, 2003
[1] Other amounts comprise contributions to the Group pension plans and the cost of non-cash benefits in addition to salary for
executives in line with local country regulations and competitive market conditions.
[2] These options are valued using the Black-Scholes Option Pricing Model. These options are granted under the Group’s various
executive share option plans described in the Full Financial Report Note 25.
Pursuant to guidelines issued on 1 July, 2003 by the ASIC, there has been a change in the determination of the amount of
emoluments disclosed relating to options granted during the financial year. In prior years, 100% of the value of options granted
was disclosed as emoluments in the year of grant. The new ASIC guidelines now require that the value of options granted be
disclosed as emoluments over their vesting period, being 4 years from the date of grant. Accordingly, the value of emolument
recorded for options granted during the current financial year represents only the vested portion of the full option value.
The following table lists the value of emolument attributable to options granted in financial years prior to fiscal 2003 and
previously disclosed as emoluments in prior years, that vest in the current year.
US$000 US$000
Non-executive Directors Executive Directors
G C Bible 28 K R Murdoch AC 8,814
K E Cowley AO 28 C Carey 2,794
R Eddington 66 P Chernin 14,861
J A M Erkko KBE 28 D F DeVoe 2,752
A S B Knight 28 J R Murdoch 661
G J Kraehe AO 7 L K Murdoch 2,641
T J Perkins 28 A M Siskind 2,752
B C Roberts Jr. 28
S S Shuman 28
Officers
R Ailes 583
J Gianopulos 836
S Grushow 2,523
D Hill 481
T Rothman 878
M Stern 1,434
[3] All options are over preferred limited voting ordinary shares and were granted during the financial year.
[4] The exercise price of the options is A$7.73 and the options expire on 9 October, 2012 for each Director.
[5] The exercise price is A$8.02 and the options expire on 13 August, 2012 for each Executive Director.
[6] The exercise price is A$8.02 and the options expire on 14 August, 2012 for each Officer.
Directors’ Interests and Benefits
Information on Directors’ Shareholdings as at the date of this report is contained in the Full Financial Report Note 30.
Share Options
Details of the share options are disclosed in the Full Financial Report Note 25.
The options carry no right to participate in any other share issue and no options have been exercised by a Director, except as noted
in the Full Financial Report Note 30.