HSBC 2005 Annual Report Download - page 232

HSBC HOLDINGS PLC
Directors’ Remuneration Report (continued)
Audited Information
230
HSBC Holdings Savings-Related Share Option Plan
HSBC Holdings ordinary shares of US$0.50
Options
held at
1 January
2005
Options
awarded
during
year
Options
exercised
during
year
Options
held at 31
December
2005
Exercise
price (£)
Date of
award
Exercisable
from1
Exercisable
until
Sir John Bond ........ 2,798 – 2,7982– 6.0299 10 Apr 2000 1 Aug 2005 31 Jan 2006
D J Flint ................. 2,617 – – 2,617 6.3224 2 May 2002 1 Aug 2007 31 Jan 2008
M F Geoghegan ..... 559 – – 55936.0299 10 Apr 2000 1 Aug 2005 31 Jan 2006
S K Green .............. 3,070 – – 3,070 5.3496 23 Apr 2003 1 Aug 2008 31 Jan 2009
1May be advanced to an earlier date in certain circumstances, e.g. retirement.
2At the date of exercise, 2 August 2005, the market value per share was £9.32.
3Options over 533 shares were exercised on 31 January 2006 and options over 26 shares lapsed on that date. At the date of exercise, the
market value per share was £9.34.
At 29 April 2005, the date he retired as a Director,
W F Aldinger held options to acquire HSBC
Holdings ordinary shares as set out in the table
below. These options arise from options he held over
shares of Household International (now HSBC
Finance Corporation) before its acquisition, which
were converted into options over HSBC Holdings
ordinary shares in the same ratio as the offer for
HSBC Finance Corporation (2.675 HSBC
Holdings ordinary shares for each HSBC Finance
Corporation common share) and the exercise prices
per share adjusted accordingly. The HSBC Finance
Corporation options were granted at nil
consideration.
No options over HSBC Holdings ordinary
shares were awarded to or exercised by Mr Aldinger
during 2005.
HSBC Finance 1996 Long-Term Executive Incentive Compensation Plan
HSBC Holdings ordinary shares of US$0.50
Options held
at 1 January 2005
Exercise price
per share (US$)
Options held
at 29 April 2005
Date of
award
Exercisable
from
Exercisable
until
1,203,750 14.60 1,203,750 10 Nov 1997 10 Nov 1998 10 Nov 2007
1,337,500 13.71 1,337,500 9 Nov 1998 9 Nov 1999 9 Nov 2008
1,230,500 16.96 1,230,500 8 Nov 1999 8 Nov 2000 8 Nov 2009
1,605,000 18.40 1,605,000 13 Nov 2000 13 Nov 2001 13 Nov 2010
2,140,000 21.37 2,140,000 12 Nov 2001 12 Nov 2002 12 Nov 2011
2,140,000 10.66 2,140,000 20 Nov 2002 20 Nov 2003120 Nov 2012
1535,000 options were exercisable on each of the first, second, third and fourth anniversaries of the date of award. These options could
be advanced, under the terms of the HSBC Finance Corporation stock option plan, to an earlier date in certain circumstances, for
example retirement. 1,070,000 options remaining unvested therefore vested on Mr Aldinger’s retirement as a Director on 29 April 2005.
Based on the market price of HSBC Holdings shares on 29 April 2005 and after deduction of the option subscription price these options
had a value of approximately £2,973,000.