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63
Tesco PLC Annual Report and Financial Statements 2013
OVERVIEW BUSINESS REVIEW PERFORMANCE REVIEW GOVERNANCE FINANCIAL STATEMENTS
Table 5 Long Term Performance Share Plan
Date of
award/
grant
Share
price on
award
date
(pence)
As at
25 February
2012
Shares
awarded/
options
granted
in year
Shares
exercised/
released
in year
Shares
lapsed
As at
23 February
2013
Date of
exercise/
release
Share
price on
exercise/
release
(pence)
Value
realisable
£000
Date of
release/date
from which
exercisable Expiry date
Richard Brasher 14.11.2007 471.10 229,221 – – – 229,221 – – – 14.07.2010 14.11.2017
08.07.2008 353.76 284,841 – – – 284,841 – – – 08.07.2011 08.07.2018
15.10.2009 374.00 354,765 – – – 354,765 – – – 15.07.2012 15.10. 2019
14.10.2010 433.90 302,671 – – – 302,671 – – – 14.07.2013 14.10.2020
11.07.2011 407.19 476,767 – – – 476,767 – – – 11.07.2014 11.07.2021
1,648,265 – – – 1,648,265
Philip Clarke 08.07.2008 353.76 284,841 14,998 – – 299,839 – – – 08.07.2011 08.07.2018
15.10.2009 374.00 354,765 15,420 – 196,658 173,527 – – – 15.07.2012 15.10. 2019
14.10.2010 433.90 302,671 15,936 – – 318,6 07 – – – 14.07.2013 14.10.2020
11.07.2011 407.19 752,331 39,615 – – 791,946 – – – 11.07.2014 11.07.2021
30.07.2012 317.10 – 989,162 – – 989,162 – – – 30.07.2015 30.07.2022
1,694,608 1,075,131 – 196,658 2,573,081
Andrew Higginson 08.07.2008 353.76 284,841 10,110 – – 294,951 – – – 08.07.2011 08.07.2018
15.10.2009 374.00 354,765 12,592 – 196,658 170,699 – – – 15.07.2012 15.10. 2019
14.10.2010 433.90 302,671 10,743 – – 313,414 – – – 14.07.2013 14.10.2020
11.07.2011 407.19 476,767 16,924 – – 493,691 – – – 11.07.2014 11.07.2021
30.07.2012 317.10 – 604,541 – 604,541 – – – – 30.07.2015 30.07.2022
1,419,044 654,910 – 801,199 1,272,755
Tim Mason 15.10.2009 374.00 236, 511 8,395 170,699 74,207 – 16 .07.12 315.475 539 – –
14.10.2010 433.90 201,781 7,162 – 208,943 – – – – – –
11.07.2011 407.19 476,767 16,924 – 493,691 – – – – – –
30.07.2012 317.10 – 616,632 – 616,632 – – – – – –
915,059 649,113 170,699 1,393,473 –
Laurie McIlwee 15.10.20 09 374.0 0 266,072 11,565 – 147,493 130,144 – – – 15.07.2012 15.10.2019
14.10.2010 433.90 302,671 15,936 – – 318 ,6 07 – – – 14.07.2013 14.10.2020
11.07.2011 407.19 476,767 25,105 – – 501,872 – – – 11.07.2014 11.07.2021
30.07.2012 317.10 – 626,851 – – 626,851 – – – 30.07.2015 30.07.2022
1,045,510 679,457 – 147,493 1,577,474
Lucy Neville-Rolfe 14.11.2007 471.10 150,499 7,922 – – 158,421 – – – 14.07.2010 14.11.2017
08.07.2008 353.76 199,389 10,498 – – 209,887 – – – 08.07.2011 08.07.2018
15.10.2009 374.00 266,072 11,565 – 147,493 130,144 – – – 15.07.2012 15.10. 2019
14.10.2010 433.90 227,002 11,952 – – 238,954 – – – 14.07.2013 14.10.2020
11.07.2011 407.19 357,575 18,829 – – 376,404 – – – 11.07.2014 11.07.2021
30.07.2012 317.10 – 470,138 – 470,138 – – – – 30.07.2015 30.07.2022
1,200,537 530,904 – 617,631 1,113, 810
Total 7,923,023 3,589,515 170,699 3,156,454 8,185,385
Performance Share Plan
• All awards except those awarded to Tim Mason have been made in the form of nil cost options. Tim Mason’s awards have been made in the form of unfunded promises to deliver
shares.
• Awards are increased to reflect dividend equivalents as each dividend is paid.
Performance against targets
• Awards made before 2011 are subject to performance conditions based on ROCE targets.
• As reported in last year’s report, 69.7% of the 2009 awards based on Group ROCE performance vested on 15 July 2012. The balance of the Group award and whole award subject
to performance against International ROCE targets lapsed on 15 July 2012.
• For PSP awards granted on 14 October 2010 the Group ROCE target for the first 75% was 12.5% (25% vesting) to 13.6% (100% vesting). The International ROCE target for the
first 75% was 6.0% (25% vesting) to 7.5% (100% vesting). The remaining 25% of each portion of the award vests subject to the Committee’s assessment of the quality of ROCE
performance. Group and International ROCE performance was below the level required for threshold levels of vesting and therefore no portion of these awards will vest.