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106 Financial Statements
Notes to the Financial Statements
Continued
WS Atkins Post-Tax Equity Participation Plan (Post-Tax EPP)
A share plan for senior executives and key employees that was designed to encourage investment in the Group by taking all or part of
their bonus in the form of ordinary shares (the Deposited Shares) which, if retained for a three-year period, gave them a right to obtain
a matching number of ordinary shares (the Matching Award). The right to the matching ordinary shares is subject to a performance condition
identical to those in the Atkins Long Term Incentive Plan pre September 2003. Participants are entitled to receive the benefit of dividends
declared, without interest, on the shares subject to the Matching Award between vesting and exercise. All awards have now vested.
WS Atkins Employees’ Stock Option Plan (ESOP)
A share plan used to make awards to key employees in the US that is settled in equity or in cash and which permits options to be
granted at an exercise price no lower than the market price of a share at the time of grant. Options vest after three years and must be
exercised within ten years of the date of grant. All awards have now vested.
Atkins Restricted Stock Unit Plan (RSU)
A share plan used to make awards to key employees following the acquisition of Hanscomb. There is no performance condition but
awards are restricted for three years from the date of award. As a general rule awards made to participants who leave employment prior
to vesting will lapse. In the event that a participant leaves as a result of a qualifying reason they will receive their award in full.
Deferred Bonus Plans
Atkins Deferred Bonus Plan (DBP)
A share plan for senior executives and key employees that is settled in equity or, in limited circumstances, in cash. There is no performance
condition but awards are restricted for at least three years from the date of award. As a general rule awards made to participants who
leave employment prior to vesting will lapse. In the event that a participant leaves as a result of a qualifying reason they will receive their
award in full. In the case of awards to executive directors, the value of the shares over which an award may be granted under the plan
shall be taken to form part of the annual bonus payable to that participant. Awards may also be granted under the plan to employees
below the level of executive directors that do not form part of their annual bonus (for instance, on recruitment of the employee).
Atkins Retention Bonus Plan (RBP)
A share plan for senior executives and key employees that is settled in equity or, in limited circumstances, in cash. Awards cannot be
made to executive directors. There is no performance condition but awards are restricted for a set period, fixed by the Remuneration
Committee at grant, from the date of award. Awards to date have been restricted for two years. As a general rule awards made to
participants who leave employment prior to vesting will lapse. In the event that a participant leaves as a result of a qualifying reason they
will receive their award in full. In the case of awards to senior executives, the value of the shares over which an award may be granted
under the plan shall be taken to form part of the annual bonus payable to that participant. Awards may also be granted under the plan
to employees below the level of senior executives that do not form part of their annual bonus (for instance, on recruitment of the
employee).
The Group’s share-based payments charge for the year of £8.6m (2007: £5.1m) has been included in administrative expenses in the
income statement.
WS Atkins plc Annual Report 2008