HSBC 2004 Annual Report Download - page 232

HSBC HOLDINGS PLC
Directors’ Remuneration Report (continued)
Audited Information
230
Options
held at
1 January
2004
Options
awarded
during
year
Options
exercised
during
year
Options
held at 31
December
2004
Exercise
price (£)
Date of
award
Exercisable
from1
Exercisable
until
Sir John Bond ........ 2,798 – – 2,79826.0299 10 Apr 2000 1 Aug 2005 31 Jan 2006
C F W de Croisset3. 206,000 – – 206,00048.7120 23 Apr 2001 23 Apr 2004 23 Apr 2011
206,000 – – 206,00048.4050 7 May 2002 7 May 2005 7 May 2012
206,000 – – 206,00056.9100 2 May 2003 2 May 2006 1 May 2013
W R P Dalton6....... 2,7982– – 2,79876.0299 10 Apr 2000 1 Aug 2005 31 Jan 2006
D J Flint ................. 27,000 – 27,0008– 3.3334 1 Apr 1996 1 Apr 1999 1 Apr 2006
2,617 – – 2,61726.3224 2 May 2002 1 Aug 2007 31 Jan 2008
M F Geoghegan .... 1,2482,9 –1,248
10 – 5.3980 1 Apr 1999 1 Aug 2004 31 Jan 2005
5599––559
26.0299 10 Apr 2000 1 Aug 2005 31 Jan 2006
5732,9 –573
10 – 6.7536 11 Apr 2001 1 Aug 2004 31 Jan 2005
S K Green .............. 3,070 – – 3,07025.3496 23 Apr 2003 1 Aug 2008 31 Jan 2009
A W Jebson............ 1,4342–1,434
11 – 6.7536 11 Apr 2001 1 Aug 2004 31 Jan 2005
1May be advanced to an earlier date in certain circumstances, e.g. retirement.
2Options awarded under the HSBC Holdings Savings-Related Share Option Plan.
3Retired as a Director on 27 February 2004.
4Options held under the HSBC Holdings Group Share Option Plan at date of retirement as a Director (27 February 2004). In
accordance with the transitional arrangements agreed with CCF in 2000 the awards were not subject to performance conditions.
5Options held under the HSBC Holdings Group Share Option Plan at date of retirement as a Director (27 February 2004). In
accordance with the transitional arrangements agreed with CCF in 2000, vesting of 50 per cent of the award is subject to the
performance tests set out in the section headed ‘Arrangements from 1999-2004’ on pages 222 to 223.
6Retired as a Director on 28 May 2004.
7Options held at date of retirement as a Director (28 May 2004). On 11 November 2004, in accordance with the rules of the Plan, the
option was exercised in respect of 2,070 ordinary shares and options over 728 shares lapsed. At the date of exercise the market value
per share was £9.38.
8At the date of exercise, 4 March 2004, the market value per share was £ 8.515. The exercise of these options was conditional upon the
growth in earnings per share over a three-year period being equal to or greater than a composite rate of inflation (comprising
50 per cent of the Hong Kong Composite Consumer Price Index, 35 per cent of the UK Retail Price Index and 15 per cent of the USA Al
l
Urban Consumer Price Index) plus 2 per cent per annum. This condition has been satisfied.
9Interests at date of appointment as a Director (1 March 2004).
10 At the date of exercise, 16 August 2004, the market value per share was £8.265.
11 At the date of exercise, 2 August 2004, the market value per share was £8.335.
At 27 February 2004, the date he retired as a
Director, C F W de Croisset held the following
options to acquire CCF shares of €5 each. On
exercise of these options each CCF share will be
exchanged for 13 HSBC Holdings ordinary shares.
The options were granted by CCF for nil
consideration at a 5 per cent discount to the market
value at the date of award. There are no remaining
performance criteria conditional upon which the
outstanding options are exercisable. Save as
indicated in the following table no options over CCF
shares were awarded to or exercised by Mr de
Croisset during 2004.