Vodafone 2002 Annual Report Download - page 69

Board’s Report to Shareholders on Directors’ Remuneration Vodafone Group Plc 67Annual Report & Accounts and Form 20-F
Details of the options exercised by directors of the Company in the year to 31 March 2002, are as follows:
Options exercised Market price Gross
during the Option at date of pre-tax
year price exercise gain
(Number) (Pence) (Pence) (£000)
Sir Christopher Gent 100,000 58.7 153.00 94
Peter Bamford 7,670 127.1 135.25 1
Julian Horn-Smith 8,935 38.6 135.25 9
Ken Hydon 17,875 38.6 182.75 26
Note:
The aggregate gross pre-tax gain made on the exercise of share options in the year by the above Company’s directors was £129,328 (2001: £6,330,000). The closing
middle market price of the Company’s shares at the year end was 129.75p, its highest closing price in the year having been 229p and its lowest closing price having
been 124p.
Beneficial interests
The directors’ beneficial interests in the ordinary shares of the Company, which includes interests in the Vodafone Group Profit Sharing Scheme and the Vodafone
Share Incentive Plan, but which excludes interests in the Vodafone Group Share Option Schemes, the Vodafone Group Short Term Incentive or in the Vodafone Group
Long Term Incentives, are shown below:
1 April 2001
or date of
24 May 2002 31 March 2002 appointment
Lord MacLaurin 87,170 87,170 82,100
Sir Christopher Gent 2,200,596 2,199,552 1,904,759
Peter Bamford 219,357 218,199 67,576
Vittorio Colao (1) Nil N/a N/a
Thomas Geitner 12,350 12,350 12,350
Julian Horn-Smith 860,293 858,890 781,337
Ken Hydon 1,349,884 1,348,483 1,217,314
Paul Hazen 422,450 422,450 422,450
Dr Michael Boskin (2) 212,500 212,500 212,500
Professor Sir Alec Broers 19,024 19,024 5,000
Penny Hughes 22,500 22,500 22,500
Arun Sarin 4,832,560 4,832,560 5,408,416
Sir David Scholey 50,000 50,000 50,000
Jürgen Schrempp Nil Nil Nil
Notes:
(1) On 1 April 2002, Vittorio Colao was appointed to the Board.
(2) On 14 August 1996, prior to the Company’s merger with AirTouch, Michael Boskin entered into an agreement with AirTouch to provide him with a $100,000
unsecured promissory note facility for the purpose of financing the purchase of AirTouch common stock pursuant to the 1993 Long Term Incentive Plan, bearing
interest at a market rate. As at 31 March 2002, $100,000, (2001: $100,000), had been drawn under the facility.
In July 2000, Sir Christopher Gent undertook to acquire and maintain a shareholding of 2 million shares within twelve months and Julian Horn-Smith and Ken Hydon
each undertook to maintain a shareholding of not less than 500,000 shares. The directors have complied with these undertakings.
Changes to the interests of the directors of the Company in the ordinary shares of the Company during the period 1 April 2002 to 24 May 2002 relate to shares
acquired either through Vodafone Group Personal Equity Plans, the Vodafone Group Profit Sharing Scheme or the Vodafone Share Incentive Plan. No director had, since
1 April 2002, any interest in the shares of any subsidiary company except Julian Horn-Smith who, at the end of the financial year, owned 18,000 ordinary shares of
Vodafone-Panafon Hellenic Telecommunications Company S.A., the Group’s Greek subsidiary company.
Other than those individuals included in the table above who were Board members as at 31 March 2002, members of the Group’s Executive Committee as at 31 March
2002, had an aggregate beneficial interest in 995,876 ordinary shares of the Company as at 24 May 2002, none of whom had an individual beneficial interest
amounting to greater than 1% of the Company’s ordinary shares.