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49
VTech Holdings Ltd Annual Report 2012
3 Directors’ Emoluments and Individuals with Highest Emoluments
Directors’ emoluments
Fees
Salaries,
allowances
and benefits
in kind Discretionary
bonuses
Contributions
to retirement
benefit
schemes Share-based
payments (v) 2012
Total
US$ million US$ million US$ million US$ million US$ million US$ million
Executive Directors (i)
Allan WONG Chi Yun (iii) – 0.8 1.9 0.1 0.7 3.5
PANG King Fai – 0.5 0.6 – 0.4 1.5
Andy LEUNG Hon Kwong – 0.5 0.8 – 0.2 1.5
Independent Non-executive Directors (ii)
William FUNG Kwok Lun – – – – – –
Denis Morgie HO Pak Cho – – – – – –
David SUN Tak Kei ––––––
Michael TIEN Puk Sun – – – – – –
Patrick WANG Shui Chung – – – – – –
– 1.8 3.3 0.1 1.3 6.5
Fees
Salaries,
allowances
and benefits
in kind Discretionary
bonuses
Contributions
to retirement
benefit
schemes Share-based
payments (v) 2011
Total
US$ million US$ million US$ million US$ million US$ million US$ million
Executive Directors (i)
Allan WONG Chi Yun (iii) – 0.8 2.0 0.1 0.8 3.7
PANG King Fai – 0.4 0.6 – 0.4 1.4
Andy LEUNG Hon Kwong – 0.4 1.1 – 0.2 1.7
Independent Non-executive Directors (ii)
William FUNG Kwok Lun – – – – – –
Denis Morgie HO Pak Cho – – – – – –
David SUN Tak Kei (iv) ––––––
Michael TIEN Puk Sun – – – – – –
Patrick WANG Shui Chung – – – – – –
– 1.6 3.7 0.1 1.4 6.8
Notes:
(i) The directors’ fee paid to each executive director of the Company was US$30,000 (2011: US$30,000) per annum.
(ii) The emoluments paid to each independent non-executive director of the Company was US$30,000 (2011: US$30,000) per annum, pro-rata to the length of service.
(iii) Included in the emoluments paid to Dr. Allan Wong Chi Yun was housing benefit of HK$3,000,000 for the year ended 31 March 2012 (2011: HK$3,000,000), which was based on the
lease agreement entered by the Company with Aldenham Company Limited (“Aldenham”). Aldenham is an indirect wholly owned subsidiary of a discretionary trust of which
Dr. Allan Wong Chi Yun, a Director, was the founder.
(iv) Dr. David SUN Tak Kei was appointed as independent non-executive director on 25 January 2011.
(v) Share-based payments represent the fair value of share options granted to the directors which were charged to the income statement in accordance with the accounting policy set
out in Note (S).
Individuals with highest emoluments
Of the five individuals with the highest emoluments, three
(2011: three) are directors whose emoluments are set out above.
The aggregate of the emoluments in respect of the other two
(2011: two) individuals are as follows:
2012 2011
US$ million US$ million
Salaries, allowances and benefits
in kind 0.9 0.9
Discretionary bonuses 1.1 1.0
Contribution to retirement
benefit schemes ––
Share-based payments 0.3 0.4
2.3 2.3
The emoluments fell within the following bands:
2012 2011
Individuals Individuals
US$
833,001 – 897,000 –1
897,001 – 961,000 1–
1,269,001 – 1,333,000 1–
1,397,001 – 1,461,000 –1
22
During the years ended 31 March 2011 and 31 March 2012,
there were no amounts paid to directors and individuals for
compensation for loss of office and inducement for joining the
Group.