Tesco 2007 Annual Report Download - page 40

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Table 6 Long-term Performance Share Plan continued
Date of
Share price Shares release/
on award As at awarded/ As at date from
Date of date 25 Feb options 24 Feb which
award/grant (pence) 2006 granted 2007 exercisable Expiry date
Mr T J R Mason (a) 28.07.2004 253.45 175,774 – 175,774 28.07.2008 28.07.2014
12.10.2005 302.75 213,047 6,312 219,359 12.07.2009 12.10.2015
25.08.2006 346.25 – 206,111 206,111 20.07.2010 –
388,821 212,423 601,244
Miss L Neville-Rolfe (b) 18.01.2006 312.25 29,623 – 29,623 18.07.2008 –
20.07.2006 346.25 57,039 – 57,039 20.07.2009 –
86,662 – 86,662
Mr D T Potts 28.07.2004 253.45 175,774 – 175,774 28.07.2008 28.07.2014
12.10.2005 302.75 213,047 6,312 219,359 12.07.2009 12.10.2015
20.07.2006 346.25 – 206,111 206,111 20.07.2010 20.07.2016
388,821 212,423 601,244
(a) Mr T J R Mason’s 2006 award was made in the form of an unfunded promise.
(b) Miss L Neville-Rolfe was appointed on 14 December 2006. No shares have been awarded or options granted since the date of her appointment. Those awards detailed
were made in the form of restricted shares under the senior management Performance Share Plan.
(c) The Long-term Performance Share Plan replaced the Long-term Executive Incentive Scheme. The first award under the new plan was made in 2004. All awards except
those described in notes (a) and (b) above have been made in the form of nil cost options.
(d) The awards are subject to performance conditions based on Return on Capital Employed targets.
(e) The awards are increased to reflect dividends equivalents as each dividend is paid with the exception of the 2004 award on which no dividends accrue.
(f) No options were exercised or lapsed and no shares were released in the year under this Plan.
Table 7 Executive Incentive Plan
Date of
Share price Shares Shares release/
on award As at awarded/ released/ As at date from
Date of date 25 Feb options options 24 Feb which Expiry
award/grant (pence) 2006 granted exercised 2007 exercisable date
Sir Terry Leahy 20.05.2005 311.0 250,626 7,399 – 258,025 20.05.2008 20.05.2015
26.05.2006 318.5 – 346,950 – 346,950 22.05.2009 22.05.2016
250,626 354,349 – 604,975
Mr R Brasher 20.05.2005 311.0 97,330 2,873 – 100,203 20.05.2008 20.05.2015
26.05.2006 318.5 – 168,869 – 168,869 22.05.2009 22.05.2016
97,330 171,742 – 269,072
Mr P A Clarke 20.05.2005 311.0 144,536 4,266 – 148,802 20.05.2008 20.05.2015
26.05.2006 318.5 – 198,037 – 198,037 22.05.2009 22.05.2016
144,536 202,303 – 346,839
Mr A T Higginson 20.05.2005 311.0 144,536 4,266 – 148,802 20.05.2008 20.05.2015
26.05.2006 318.5 – 198,037 – 198,037 22.05.2009 22.05.2016
144,536 202,303 – 346,839
Mr T J R Mason 20.05.2005 311.0 144,536 4,266 – 148,802 20.05.2008 20.05.2015
26.05.2006 318.5 – 198,037 198,037 – 16.02.2007 –
144,536 202,303 198,037 148,802
Mr D T Potts 20.05.2005 311.0 144,536 4,266 – 148,802 20.05.2008 20.05.2015
26.05.2006 318.5 – 198,037 – 198,037 22.05.2009 22.05.2016
144,536 202,303 – 346,839
(a) The Executive Incentive Plan replaced the Short-term Executive Incentive Scheme. The first award under the new plan was made in 2005.
(b) The awards are subject to performance conditions based on TSR, earnings per share and corporate objectives.
(c) Mr T J R Mason’s 2006 award was made in the form of conditional shares which were released on 16 February 2007 at the discretion of the Remuneration Committee at a
market price of 444.0 pence. All other awards have been made in the form of nil cost options.
(d) The awards are increased to reflect dividends equivalents as each dividend is paid.
(e) No options lapsed in the year under the Executive Incentive Plan.
Directors’ remuneration report continued
38 Tesco PLC Annual report and financial statements 2007 Find out more at www.tesco.com/corporate