Unilever 2007 Annual Report Download - page 57

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Unilever Annual Report and Accounts 2007 55
Report of the Directors continued
Report of the Remuneration Committee continued
Executive Directors’ conditional share awards under the TSR Long-Term Incentive Plan
The following conditional shares were outstanding from grants made in 2004 to 2006.
From 2007 onwards no new awards will be made under this Plan as a new plan was approved by shareholders at the 2007 AGMs.
From 2007 LTI awards will be made only under the new plan.
Balance of Balance of
conditional Conditional awards conditional
shares lapsed 24 March 2007 shares at
at 1 January (Performance period 31 December
2007 2004 to 2006)(a) 2007
Original
Share No. of No. of price at No. of
type shares shares award shares
Patrick Cescau NV 58 476 (13 863) €18.03 44 613
PLC 60 449 (14 391) 1 154.00p 46 058
Kees van der Graaf NV 36 201 (8 319) €18.03 27 882
PLC 37 422 (8 634) 1 154.00p 28 788
Ralph Kugler NV 36 201 (8 319) €18.03 27 882
PLC 37 422 (8 634) 1 154.00p 28 788
Rudy Markham NV 41 745 (13 863) €18.03 27 882(b)
PLC 43 179 (14 391) 1 154.00p 28 788(b)
(a) The conditional awards made in 2004 lapsed in 2007, based on the TSR performance of Unilever over the three-year performance period
ending 31 December 2006. For this period, Unilever ranked 13th in its peer group and therefore no vesting occurred for this award.
(b) Balance is at May 2007 when he stepped down as an Executive Director.
Executive Directors’ Share Matching Plan
The following conditional shares were outstanding, awarded or vested during 2007 under the share matching plan:
Balance of Balance of
conditional conditional
shares shares at
at 1 January Conditional shares 31 December
2007 awarded in 2007(a) Shares vested on 24 March 2007(b) 2007
Market Original
Share No. of No. of Price at No. of price price No. of
type shares shares award shares at vesting at award shares
Patrick Cescau NV 8 778 6 627 €21.33 (1 413) €21.66 €18.03 13 992
PLC 8 992 6 627 1 488.00p (1 469) 1 505.11p 1 154.00p 14 150
Kees van der Graaf NV 4 266 2 121(c) €21.33 (1 341) €21.66 €18.03 2 925
PLC 4 394 2 121(c) 1 488.00p (1 392) 1 505.11p 1 154.00p 3 002
Ralph Kugler NV 3 831 2 402 €21.33 (1 191) €21.66 €18.03 5 042
PLC 3 936 2 402 1 488.00p (1 238) 1 505.11p 1 154.00p 5 100
Rudy Markham NV 4 932 2 830 €21.33 (1 209) €21.66 €18.03 6 553(d)
PLC 5 071 2 830 1 488.00p (1 257) 1 505.11p 1 154.00p 6 644(d)
(a) Each award of matching shares is conditional and vests three years after the date of the award subject to certain conditions. The 2007
award was made at grant date 21 March 2007.
(b) The conditional shares awarded on 24 March 2004 (relating to the 2003 performance period) vested on 24 March 2007.
(c) Kees van der Graaf (based in the Netherlands) was granted a conditional right to receive at the vesting date a cash amount equal to the
value on that date of 2 121 NV shares and 2 121 PLC shares.
(d) Balance is at May 2007 when he stepped down as an Executive Director.
2005 2006 2007
7
14
21
Unilever’s position relative to the TSR reference group
The reference group, including Unilever, consists of 21 companies. Unilever’s position is
based on TSR over a three-year rolling period.