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Report of the Remuneration Committee continued
68 Unilever Annual Report and Accounts 2008
Report of the Directors
Executive Directors’ conditional share awards under the TSR Long-Term Incentive Plan
The following conditional shares were outstanding from grants made between 2004 and 2006.
From 2007 onwards no new awards have been made under this Plan as the Global Share Incentive Plan was approved by shareholders
at the 2007 AGMs. From 2007 long-term incentive awards will be made only under that new plan.
Balance of Balance of
conditional conditional
shares at Conditional awards lapsed shares at
1 January 24 March 2008 (Performance period 2005 to 2007)(a) 31 December
2008 Lapsed(a) Original price 2008
Share type No. of shares Vested(a) No. of shares Price at vesting at award No. of shares
Patrick Cescau NV 44 613 (11 835) (11 835) €21.30 €16.90 20 943
PLC 46 058 (12 366) (12 366) 1 672.00p 1 122.00p 21 326
Kees van der Graaf NV 27 882 (7 397) (7 396) €21.30 €16.90 13 089(b)
PLC 28 788 (7 730) (7 729) 1 672.00p 1 122.00p 13 329(b)
Ralph Kugler NV 27 882 (7 397) (7 396) €21.30 €16.90 13 089(b)
PLC 28 788 (7 730) (7 729) 1 672.00p 1 122.00p 13 329(b)
(a) The conditional awards made in 2005 vested in 2008 for 50%, as Unilever was ranked number 8 in the peer group based on performance
over the three year period ending 31 December 2007.
(b) Balance is at May 2008 when they stepped down as Executive Directors.
2006 2007 2008
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.