Singapore Airlines 2013 Annual Report Download - page 138
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136
SINGAPORE AIRLINES
NOTES TO THE FINANCIAL STATEMENTS
5 Staff Costs (in $ million) (continued)
Share-based compensation expense (continued)
Share-based incentive plans
RSP and PSP are share-based incentive plans for senior executives and key senior management, which were approved by
the shareholders of the Company on 28 July 2005.
The details of the two plans are described below:
Plan Description
RSP
Award of fully-paid ordinary shares
of the Company, conditional on
position and individual performance
targets set at the start of a two-
year performance period based
on medium-term Group and
Company objectives.
PSP
Award of fully-paid ordinary shares
of the Company, conditional on
performance targets set at the start of
a three-year overlapping performance
period based on stretched long-term
corporate objectives.
Performance Conditions At both Company and Group level
• EBITDAR# Margin
• Value Added per $ Employment
Cost
• Absolute Total Shareholder
Return (TSR) outperform Cost
of Equity (COE)
• Relative TSR against selected
airline peer index companies
Vesting Condition Based on meeting stated
performance conditions over a
two-year performance period,
50% of award will vest. Balance
will vest equally over the subsequent
two years with fulfillment of
service requirements.
Vesting based on meeting stated
performance conditions over a
three-year performance period.
Payout 0% - 150% depending on
the achievement of pre-set
performance targets over the
performance period.
0% - 200% depending on
the achievement of pre-set
performance targets over the
performance period.
# EBITDAR denotes Earnings before Interest, Taxes, Depreciation, Amortisation and Rentals on leased aircraft.
31 March 2013