Unilever 2013 Annual Report Download - page 78

(d) SIP  UK LAW REQUIREMENT (AUDITED)
2013 OUTOMES
Ths ncludes SIP awards vestng based on performance n the three-year perod to 31 December 2013
The values ncluded n the sngle fgure table for 2013 are calculated by multplyng the number of shares granted on 14 March 2011
(ncludng addtonal shares n respect of accrued dvdends through to 31 December 2013) by the level of vestng (128% of target
awards) and the three-month average share prce to 31 December 2013 (PL £2447 and NV 2858)
The award was equally based on the performance measures outlned n the table below
Performance aganst targets
Threshold Target
PERFORMANCE
Performance measures
* Comparator group of 20 companies including Unilever. The comparator group is the same as those disclosed on page 80 with the addition of Heinz.
25% of target awards vest for threshold performance under the three business focused performance measures. 60% of target awards vest for threshold
performance under the TSR performance measure.
Result
vesting
(% of target)
Maximum
Cumulative operating cash flow
compared with prior year (25%)
Underlying operating margin vs
prior year (25%)
Total shareholder return (25%)*
Overall vesting
Underlying sales growth (p.a) (25%) 5.9%
€13.4bn
10th
191%
110%
153%
60%
128%
6%
€14.5bn
3rd
4%
€10.5bn
10th
0percentage
points 0.4 percentage points
0.19 percentage
points
Over the past three years, the busness has delvered a very strong performance and has consstently been ahead of our compettors
Underlyng sales growth durng the perod was 59% per annum whch the ommttee consdered to be exceptonal performance n the
context of the global economc clmate durng ths perod and the strong base we were buldng from We have also consstently
mproved margn performance convertng our top-lne growth nto proftable returns for our shareholders wth underlyng operatng
margn mprovng 019 percentage ponts ash flow performance has also been strong, fundng future nvestment n growth On the
bass of ths performance, the ommttee determned that SIP awards granted to Executve Drectors n 2011 wll vest at 128% of ntal
award levels (out of a maxmum of 200% – e 64% of maxmum awards)
Durng 2013, the FO also receved the thrd and fnal tranche of restrcted stock award made to hm on recrutment under the SIP
The value of ths award has not been ncluded n the above SIP fgures as t s not requred by the regulatons
The 2012 SIP performance shares fgure has been restated to reflect the actual number of shares and the market value of the shares
that vested and have been translated nto  usng the average exchange rate over 2012 1 = £08107 The fgure ncluded n the 2012
Drectors’ Remuneraton Report was estmated as the vestng date was post the publcaton of the 2012 Annual Report and Accounts
The actual values at the vestng date were Paul Polman 3,503,000 (estmated as 3,089,000) and Jean-Marc Hut 2,453,000
(estmated as 2,164,000)
(e) ONDITIONAL SUPPLEMENTAL PENSION (AUDITED)
EO Paul Polman
ondtonal supplemental penson provson agreed wth the EO on hrng, whch s condtonal on hs remanng n employment wth
Unlever to age 60 and subsequently retrng from actve servce or hs death or total dsablty pror to retrement Ths was £117,123
based on 12% of a capped salary of £976,028 for 2013
FO Jean-Marc Hut
The FO does not receve a condtonal supplemental penson
(f) SHARE INENTIVES  DUTH LAW REQUIREMENT (AUDITED)
As per the Dutch requrements, these costs are non-cash costs and relate to the expenses recognsed for the perod followng IFRS 2
Ths s based on share prces on grant dates, a 98% adustment factor for SIP shares and MIP matchng shares awarded n 2013 and
2012 and SIP shares awarded n 2011 and 2010, and an 89% adustment factor for SIP shares awarded n 2009 to take account of the
external performance condton TSR
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Unlever Annual Report and Accounts 2013 overnance