Unilever 2010 Annual Report Download - page 69

66 Unilever Annual Report and Accounts 2010
Report of the Directors Governance
Directors’ Remuneration Report continued
Global Share Incentive Plan (audited)
The following conditional shares were granted during 2010 and outstanding at 31 December 2010 under the Global Share
IncentivePlan:
Balance of Conditional grant 2010 Balance of
conditional shares at (Performance period conditional shares at
1 January 2010 1 January 2010 to 31 December 2012)(a) 31 December 2010
Share
type No. of shares No. (a)
of shares Price at award No. of shares
Jean-Marc Huët NV – 30,906 €22.53 30,906
PLC – 30,906 £19.44 30,906
Paul Polman NV
PLC
127,962(b)
127,962(b)
44,137
44,137
€22.53
£19.44
172,099
172,099
(a) Each award of conditional shares vests three years after the date of the award, subject to performance conditions as set out on page 63.
The2010 award was made at grant date 18 March 2010.
(b) This includes a grant of 58,752 of each of Unilever NV and PLC shares made on 6 November 2008 and a grant of 69,210 of each of Unilever NV
and PLC shares made on 19 March 2009, that will vest on 6 November 2011 and 19 March 2012 respectively.
Both Jean-Marc Huët and Paul Polman received a one-off restricted stock award on joining Unilever under the GSIP. Details of balances,
grants and vesting during 2010 are shown below.
Balance of Balance of
shares at shares at
1 January 31 December
Share
type
2010 Granted in 2010 Vesting in 2010 2010
No. of shares Price at award No. of shares Price at vesting No. of shares
Jean-Marc Huët(a) NV
PLC
–
–
65,650
65,650
€22.53
£19.44
n/a
n/a
65,650
65,650
Paul (b)
Polman NV 45,102 n/a 22,551 €22.56 22,551
PLC 45,102 n/a 22,551 £19.01 22,551
(a) Award agreed on joining Unilever. Award was made 18 March 2010 and will vest 1/3, 1/3, 1/3 on respectively the first, second and third
anniversary of the award, provided he has not resigned or been dismissed as a Executive Director at each vesting date.
(b) Vesting on 6 November 2010 of 1/3 of original award (made 6 November 2008 at €18.93 and £14.39). The first 1/3 of the original award
vested on 6 November 2009. The remaining 1/3 of the original award is expected to vest on 6 November 2011 provided he has not resigned or
been dismissed as a Executive Director before such date.
Share Save plan (audited)
Options under the PLC Share Save Plan are subject to five-year vesting periods and vesting is contingent on continued employment
with Unilever.
Share
type
Balance of
options at
1 January
2010(a)
Granted
in 2010
31
Balance of
options at
December
2010
First
exercisable
date
Final
expiry
date
Paul Polman PLC 1,042 – 1,042 01/10/2014 01/04/2015
(a) Option price
The highest and
at grant was
lowest share
£14.92.
price per ordinary PLC 31⁄9p share during the year were £19.97 and £16.88.
Executive Directors’ interests in shares (audited)
Shares held at Shares held at
(a)
Share type 1 January 2010(b) 31 December 2010(b)
Jean-Marc Huët NV – 23,000
PLC – 23,000
Paul Polman NV 25,964 111,953
PLC 25,964 70,033
(a) NV shares are ordinary €0.16 shares and PLC shares are ordinary 31⁄9p shares.
(b) Numbers are excluding awards and options over shares which are disclosed above.
The table shows the interest in NV and PLC ordinary shares of Executive Directors and their connected persons as at 31 December
2010. There has been no change in these interests between 31 December 2010 and 1 March 2011.
The voting rights of the Directors who hold interests in the share capital of NV and PLC are the same as for other holders of the class
of shares indicated. None of the Directors’ (Executive and Non-Executive) or other executive officers’ shareholdings amounts to more
than 1% of the issued shares in that class of share. Except as stated above, all shareholdings are beneficial.