Tesco plc Annual Report and Financial Statements 2008

Table 6 Long-Term Performance Share Plan
Options Date of
Share price As at Shares awarded/ exercised/ As at release/date
Date of award/ on award date 24 February options granted shares released 23 February from which Expiry
grant (pence) 2007 in year in year 2008 exercisable date
Mr R Brasher 28.07.2004 253.45 118,367 – – 118,367 28.07.2008 28.07.2014
12.10.2005 302.75 187,050 4,515 – 191,565 12.07.2009 12.10.2015
20.07.2006 346.25 192,168 4,639 – 196,807 20.07.2010 20.07.2016
14.11.2007 471.10 – 240,045 – 240,045 14.07.2010 14.11.2017
Total 497,585 249,199 – 746,784
Mr P A Clarke 28.07.2004 253.45 175,774 – – 175,774 28.07.2008 28.07.2014
12.10.2005 302.75 219,359 5,295 – 224,654 12.07.2009 12.10.2015
20.07.2006 346.25 206,111 4,975 – 211,086 20.07.2010 20.07.2016
14.11.2007 471.10 – 240,045 – 240,045 14.07.2010 14.11.2017
Total 601,244 250,315 – 851,559
Mr A T Higginson 28.07.2004 253.45 175,774 – – 175,774 28.07.2008 28.07.2014
12.10.2005 302.75 219,359 5,295 – 224,654 12.07.2009 12.10.2015
20.07.2006 346.25 206,111 4,975 – 211,086 20.07.2010 20.07.2016
14.11.2007 471.10 – 240,045 – 240,045 14.07.2010 14.11.2017
Total 601,244 250,315 – 851,559
Sir Terry Leahy 28.07.2004 253.45 304,794 – – 304,794 28.07.2008 28.07.2014
12.10.2005 302.75 384,304 9,278 – 393,582 12.07.2009 12.10.2015
20.07.2006 346.25 361,093 8,717 – 369,810 20.07.2010 20.07.2016
14.11.2007 471.10 – 420,484 – 420,484 14.07.2010 14.11.2017
Total 1,050,191 438,479 – 1,488,670
Mr T J R Mason 1 28.07.2004 253.45 175,774 – 85,343 90,431 28.07.2008 28.07.2014
12.10.2005 302.75 219,359 5,295 – 224,654 12.07.2009 12.10.2015
25.08.2006 346.25 206,111 4,975 – 211,086 20.07.2010 –
14.11.2007 471.10 – 160,030 – 160,030 14.07.2010 –
Total 601,244 170,300 85,343 686,201
Miss L Neville-Rolfe 2 18.01.2006 312.25 29,623 197 – 29,820 18.07.2008 –
20.07.2006 346.25 57,039 378 – 57,417 20.07.2009 –
14.11.2007 471.10 – 157,610 – 157,610 14.07.2010 14.11.2017
Total 86,662 158,185 – 244,847
Mr D T Potts 28.07.2004 253.45 175,774 – – 175,774 28.07.2008 28.07.2014
12.10.2005 302.75 219,359 5,295 – 224,654 12.07.2009 12.10.2015
20.07.2006 346.25 206,111 4,975 – 211,086 20.07.2010 20.07.2016
14.11.2007 471.10 – 240,045 – 240,045 14.07.2010 14.11.2017
Total 601,244 250,315 – 851,559
Total 4,039,414 1,767,108 85,343 5,721,179
1 Mr Mason’s 2006 and 2007 awards were made in the form of an unfunded promise. Following approval by the Remuneration Committee Mr Mason part exercised his 2004 award on 23 August 2007
at a share price of 405.00p in order to fund a US tax liability.
2 Miss L Neville Rolfe’s 2006 awards were made in the form of restricted shares under the senior management performance share plan.
3 The 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 1 and 2 above
have been made in the form of nil cost options.
4 The awards are subject to performance conditions based on Return on Capital Employed (ROCE) targets. The Group ROCE for 2006/7 was 12.6%, therefore targets for PSP awards granted on
28 July 2004 were met in full and these awards vested. Executives are required to retain these vested awards for a further 12 months with the exception of Mr Mason (see note 1).
5 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.
6 No options lapsed in the year under this Plan.
Tesco PLC Annual Report and
Financial Statements 2008 35