Last checked at 2 Dec 2013 15:00
2 December 2013
Short-Term Deferred Incentive Plan
Under the terms of the Company's Short-Term Deferred Incentive Plan, the following Directors have today been granted awards in respect of the year to 28 September 2013 under which part of their annual bonus has been deferred into a conditional award of ordinary shares of the Company (the 'Bonus Shares').
The Remuneration Committee has determined that 50% of the annual bonus awarded to Alistair Darby and Tim Jones will be deferred into Bonus Shares. The balance will be paid to them through payroll.
The Bonus Shares will be released in two equal tranches 12 and 24 months after deferral. On release of the Bonus Shares each Director will also receive shares with a market value equal to the aggregate gross dividend paid on the Bonus Shares prior to the release date. No Matching Share award has been granted.
Name | Bonus Shares | First Release Date | Second Release Date |
Alistair Darby | 44,436 | 2 December 2014 | 2 December 2015 |
Tim Jones | 35,292 | 2 December 2014 | 2 December 2015 |
Denise Burton
Deputy Company Secretary