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VTech Holdings Ltd Annual Report 2006 41
3 Directors’ and Senior Executives’ Emoluments
Directors’ emoluments
Salaries, Contributions
allowances to retirement
and benefits benefit Share-based 2006
Fees in kind Bonuses schemes payments Total
US$ million US$ million US$ million US$ million US$ million US$ million
Executive directors (Note 3)
Allan WONG Chi Yun (Note 1) – 0.8 2.1 0.1 0.3 3.3
Albert LEE Wai Kuen (Note 2) – 0.6 5.8 0.1 0.2 6.7
Independent non-executive directors
(Note 4)
Raymond CH’IEN Kuo Fung ––––––
William FUNG Kwok Lun ––––––
Michael TIEN Puk Sun ––––––
Patrick WANG Shui Chung ––––––
– 1.4 7.9 0.2 0.5 10.0
Salaries, Contributions
allowances to retirement
and benefits benefit Share-based 2005
Fees in kind Bonuses schemes payments Total
US$ million US$ million US$ million US$ million US$ million US$ million
Executive directors (Note 3)
Allan WONG Chi Yun (Note 1) – 0.8 0.5 0.1 – 1.4
Albert LEE Wai Kuen (Note 2) – 0.6 2.4 0.1 – 3.1
Independent non-executive directors
(Note 4)
Raymond CH’IEN Kuo Fung ––––––
William FUNG Kwok Lun ––––––
Michael TIEN Puk Sun ––––––
Patrick WANG Shui Chung ––––––
– 1.4 2.9 0.2 – 4.5
Note 1: In addition to the emoluments as shown above, 2,000,000 share options were exercised during the year ended 31st March 2006 (2005: nil). The exercise
price was HK$10.2 per share and the weighted average closing price of the shares of the Company at the dates on which the options were exercised was
HK$13.45 per share.
Note 2: In addition to the emoluments as shown above, 1,750,000 share options were exercised during the year ended 31st March 2006 (2005: nil). The exercise
price was HK$10.2 per share and the weighted average closing price of the shares of the Company at the dates on which the options were exercised was
HK$13.58 per share.
Note 3: The directors’ fee paid to each of executive directors was US$15,000 (2005: US$15,000 each).
Note 4: The emolument paid to each of independent non-executive directors was US$15,000 (2005: US$15,000 each), being wholly in the form of directors’ fees.
Senior executives’ emoluments
The directors’ emoluments set out above exclude 3 senior
executives (2005: 3) whose emoluments were among the five
highest earning employees of the Group. Details of the
emoluments in aggregate for these executives are set
out below:
2006 2005
US$ million US$ million
Salaries, allowances and
benefits in kind 0.9 0.9
Bonuses 0.5 2.6
Contribution to retirement
benefit schemes 0.1 0.1
Share-based payments ––
1.5 3.6
The emoluments fell within the following bands:
2006 2005
Individuals Individuals
US$
257,001 – 321,000 1–
321,001 – 385,000 1–
640,001 – 704,000 –2
768,001 – 832,000 1–
2,176,001 – 2,240,000 –1
33
During the years ended 31st March 2005 and 31st March
2006, there were no amounts paid to directors and senior
executives above for compensation for loss of office and
inducement for joining the Group.