Unilever 2003 Annual Report Download - page 66

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Unilever Annual Report & Accounts and Form 20-F 2003 63
Remuneration report – detailed information
Directors’ conditional share awards under the TSR Long-Term Incentive Plan
Conditional rights to ordinary shares in NV and PLC were granted in 2003 as shown in the table below. No awards vested or lapsed
in 2003:
Balance of Balance of Award to vest in May
conditional conditional 2004 based on the
shares at Conditional awards made 25 March 2003 shares at 2001 to 2003
Share 1 January 2003 (Performance period 2003 to 2005)(3) 31 December 2003 performance period(4)
type No. of shares No. of shares Original price at award No. of shares No. of shares
A Burgmans NV 12 452 7 260 €55.10 19 712 6 472
PLC 90 679 46 198 585p 136 877 48 360
N W A FitzGerald NV 12 452 7 260 €55.10 19 712 6 472
PLC 90 679 46 198 585p 136 877 48 360
A C Butler NV 7 782 4 537 €55.10 12 319 4 045
PLC 56 675 28 877 585p 85 552 30 225
P J Cescau NV 7 782 4 537 €55.10 12 319 4 045
PLC 56 675 28 877 585p 85 552 30 225
K B Dadiseth NV 7 782 4 537 €55.10 12 319 4 045
PLC 56 675 28 877 585p 85 552 30 225
A R van Heemstra NV 7 782 4 537 €55.10 12 319 4 045
PLC 56 675 28 877 585p 85 552 30 225
R H P Markham NV 7 782 4 537 €55.10 12 319 4 045
PLC 56 675 28 877 585p 85 552 30 225
C B Strauss NV(1) 6 200 3 646 $58.35 9 846 3 223
PLC(2) 44 612 23 284 $9.1375 67 896 23 580
(1) NV New York shares.
(2) The award was made in the form of American Depository Receipts (1 ADR equivalent to 4 PLC shares).
(3) The end date of the final performance period in respect of the conditional award made in 2003 is 31 December 2005.
(4) The conditional award made in May 2001 will vest in May 2004. This award is based on the TSR performance of Unilever (when ranked
against its defined peer group of companies) for the three-year performance period ending 31 December 2003. Details of Unilever’s TSR
ranking for this performance period are shown in the graph below.
TSR ranking of Unilever shares against its defined peer group of companies for period 2001 to 2003
The following graph shows Unilever’s position relative to the TSR peer group of companies for the period from 1 January 2001 to
31 December 2003. The ranking for this period determines the level of vesting in respect of the conditional award made in 2001.
As will be seen from this graph, Unilever is ranked at position 6 out of the reference group of 21 companies. This ranking results
in a 100% vesting of the number of shares which were conditionally awarded in May 2001. See page 122 for full details of the
TSR LTIP arrangements.
Unilever’s position relative to the TSR reference group
2001 2002 2003
7
14
21
The reference group, including Unilever, consists of 21 companies. Unilever’s position is
based on TSR over a three-year rolling period.