38 | GOVERNANCE | Directors’ Remuneration Report


Statement on Directors’ share incentive schemes (audited) The Executive Directors who held office during the year and their awards under any of the Group’s share incentive schemes at 31 December 2012 are shown on page 34 or below.


Non-executive Directors do not participate in any of the Group’s long-term incentive plans.


Executive Director Remuneration Plan (audited) Details of the Executive Director Remuneration Plan are set out on page 89.


Nature


Date of Grant 8 July 2009


Opening position at 1 January 2012 Deferred awards that vested during the year Deferred awards that lapsed during the year


Deferred awards remaining at 31 December 2012


of award Alain Grisay David Logan Deferred 1,649,452 1,649,452


(1,649,452) 539,540 ––


Share price Share price at date


of award 64.9p


64.9p at date of


Gain on vesting* £000


Gain on vesting* £000


vesting Alain Grisay David Logan


539,540 –– (539,540)


80.5p –– –––– * The gain on vesting represents the gross value of shares and the cash equivalent of re-invested dividends thereon transferred on vesting.


Long-Term Remuneration Plan awards (audited) Details of the Long-Term Remuneration Plan are set out on pages 34 and 35.


Date of grant 4 May 2010


4 May 2011 3 April 2012


Nature of award


Restricted Restricted Restricted


Alain Grisay


2,246,956 1,978,729 –


David Logan


990,557 837,001


1,492,537


Richard Wilson


– 300,105 2,985,074


Share price at date


of award 64.8p


77.8p 66.7p


No restricted awards made to Messrs Logan or Wilson vested or lapsed during the year. 548,973 restricted awards made to Mr Grisay in May 2010 lapsed during the year.


In addition to the restricted awards above, at 31 December 2012, Richard Wilson had a total of 1,111,638 LTRP deferred awards outstanding that were awarded to him in 2010 and 2011, prior to his appointment as a Director.


By order of the Board,


WMarrack Tonkin, FCCA Secretary 80 George Street Edinburgh EH2 3BU


25 March 2013


1,584


518


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