Annual Report 2010 - SBM Offshore

Financial Review / Financial Statements 2010
Matching Shares
Under the bonus plans for the Board of Management,
management and senior staff of Group companies,
20% of the bonus is or can be paid in shares. For
Board of Management members, this share based
element is compulsory but for other senior staff the
scheme is optional. Subject to a vesting period of three
years, an identical number of shares (matching shares)
will be issued to participants. Assumed probability of
vesting amounts to 100% for Board of Management
members and 95% for other senior staff.
The amounts recognised in EBIT for all share-based
payment transactions can be summarised as follows,
taking into account both the provisional awards for
the current year and the additional awards related to
prior years:
Share option plan Performance
shares and
Matching shares Total
in thousands of US$
RSU / PSU
Instruments granted 4,799 3,633 861 9,293
Performance conditions 112 1,366 269 1,747
Total expenses 2010 4,911 4,999 1,130 11,040
in thousands of US$
Share option plan Performance
shares and
RSU / PSU
Matching
shares
Instruments granted 10,146 1,433 1,361 12,940
Performance conditions (892) 799 453 360
Total expenses 2009 9,254 2,232 1,814 13,300
Rules of conduct with regard to inside information are
in place to ensure compliance with the Act on Financial
Supervision. These rules forbid e.g. the exercise of
options or other financial instruments during certain
periods defined in the rules and more specifically
when the employee is in possession of price sensitive
information.
Remuneration of the Supervisory Board
The remuneration of the Supervisory Board amounted
to US$ 546,000 (2009: US$ 433,000) and can be specified
as follows:
2010 2009 2010 2009 2010 2009
in thousands of US$ Basic remuneration Committees Total
H.C. Rothermund Chairman
Vice-Chairman (from 15 May 2008 to
101 88 11 - 112 88
L.J.A.M. Ligthart 14 April 2010) 23 73 6 17 29 90
R. van Gelder Vice-Chairman (from 14 April 2010) 85 63 11 13 96 76
D. Keller From 15 May 2008 to 15 September 2009 - 45 - - - 45
F.G.H. Deckers From 15 May 2008 80 63 9 8 89 71
T. Ehret From 15 May 2008 80 63 9 - 89 63
F.J.G.M. Cremers From 15 April 2010 65 - 10 - 75 -
F. Gugen From 6 July 2010 50 - 6 - 56 -
Total 484 395 62 38 546 433
140 SBM Offshore – Annual Report 2010
Total