HSBC 2010 Annual Report Download - page 234

HSBC HOLDINGS PLC
Directors’ Remuneration Report (continued)
Share plans
232
Unfunded pension payments
2010
£
2009
£
B H Asher ........................................ 101,858 101,858
C F W de Croisset ............................ 237,662 247,115
R Delbridge ...................................... 146,507 146,507
Lord Green ....................................... 2,992 –
Sir Brian Pearse ............................... 61,095 61,095
Sir William Purves ........................... 107,827 107,827
657,941 664,402
Share Plans
(Audited)
At 31 December 2010, the undernamed Directors
held options and awards of Performance Shares and
Restricted Shares to acquire the number of HSBC
Holdings ordinary shares set against their respective
names.
HSBC Holdings savings-related share option plans
(Audited)
HSBC Holdings ordinary shares of US$0.50
Exercisable
Date of
award
Exercise
price (£) from1 until
At
1 Jan
2010
At
31 Dec
2010
D J Flint .................................................... 25 Apr 2007 6.1760 1 Aug 2012 31 Jan 2013 2,650 2,650
A A Flockhart ........................................... 29 Apr 2009 3.3116 1 Aug 2014 31 Jan 2015 4,529 4,529
US$
I J Mackay ................................................ 30 Apr 2008 11.8824 1 Aug 2011 31 Jan 2012 1,5312 1,531
The HSBC Holdings savings-related share option plans are all-employee share plans under which eligible HSBC employees may be
granted options to acquire HSBC Holdings ordinary shares. Employees may make contributions of up to £250 (or equivalent) each month
over a period of one, three or five years which may be used on the first, third or fifth anniversary of the commencement of the relevant
savings contract, at the employee’s election, to exercise the options. The plans help align the interests of employees with the creation of
shareholder value and, as such, exercise of the options is not subject to any performance conditions. The options were awarded for nil
consideration and are exercisable at a 20% discount to the average market value of the ordinary shares on the five business days
immediately preceding the invitation date. No options lapsed during the year. There are no performance criteria conditional upon which
the outstanding options are exercisable and there have been no variations to the terms and conditions since the awards were made. The
market value per ordinary share at 31 December 2010 was £6.511. The highest and lowest market values per ordinary share during the
year were £7.404 and £5.962. Market value is the mid-market price derived from the London Stock Exchange Daily Official List on the
relevant date. Under the Securities and Futures Ordinance of Hong Kong, the options are categorised as unlisted physically settled equity
derivatives.
1 May be advanced to an earlier date in certain circumstances, e.g. retirement.
2 Interest at 3 December 2010 – date of appointment.
Awards of Performance Shares
HSBC Share Plan
(Audited)
HSBC Holdings ordinary shares of US$0.50
Awards vested
during year1,2
Date of
award
Year in
which
awards
may vest
Awards
held at
1 Jan
2010 Number
Monetary
value
Awards
held at
31 Dec
20103
£000
V H C Cheng ............................................ 5 Mar 2007 2010 218,035 83,769 560 –
3 Jun 2008 2011 157,852 – – 163,188
D J Flint .................................................... 5 Mar 2007 2010 326,626 125,489 838 –
3 Jun 2008 2011 455,210 – – 470,596
A A Flockhart ........................................... 5 Mar 2007 2010 145,238 55,799 373 –
3 Jun 2008 2011 155,227 – – 160,474
M F Geoghegan ........................................ 5 Mar 2007 2010 742,334 285,205 1,905 –
3 Jun 2008 2011 1,069,746 – – 1,105,902
Lord Green ................................................ 5 Mar 2007 2010 556,750 213,903 1,429 –
3 Jun 2008 2011 1,251,829 – – 1,294,1404
S T Gulliver .............................................. 5 Mar 2007 2010 161,319 61,979 414 –
3 Jun 2008 2011 67,631 – – 69,917
Vesting of these awards of Performance Shares is subject to the achievement of the corporate performance conditions set out on pages 226
to 228. Interests in awards of Performance Shares are categorised under the Securities and Futures Ordinance of Hong Kong as the
interests of a beneficiary of a trust.