2008 Annual Report - SBM Offshore

SBM Offshore Annual Report 2008 / Financial Statements 2008 115Matching SharesUnder the bonus plans for the Board of Management, management and senior staff of Groupcompanies 20% of the bonus is or can be paid in shares. For Board of Management members, thisshare based element is compulsory but for other senior staff the scheme is optional. Subject to avesting period of three years an identical number of shares (matching shares) will be issued toparticipants. Assumed probability of vesting amounts to 100% for Board of Management membersand 95% for other senior staff.The amounts recognised in EBIT for share based payment transactions can be summarised as follows,taking into account both the provisional awards for the current year and the additional awards relatedto prior years:In US$000 Share option Performance Matching Totalplan shares sharesInstruments granted 11,927 – 1,133 13,060Performance conditions 1,832 1,517 435 3,784Total expenses 2008 13,759 1,517 1,568 16,844In US$000 Share option Performance Matching Totalplan shares sharesInstruments granted 7,854 – 534 8,388Performance conditions 2,434 2,568 709 5,711Total expenses 2007 10,288 2,568 1,243 14,099Rules of conduct with regard to inside information are in place to ensure compliance with the Act onFinancial Supervision. These rules forbid e.g. the exercise of options or other financial instrumentsduring certain periods defined in the rules and more specifically when the employee is in possessionof price sensitive information.Remuneration of the Supervisory BoardThe remuneration of the Supervisory Board amounted to US$ 479,000 (2007: US$ 396,000) and canbe specified as follows:In US$000 Basic remuneration Committees Total2008 2007 2008 2007 2008 2007H.C. Rothermund Chairman 93 82 – – 93 82J.D.R.A. Bax Vice-Chairman (to 15 May 2008) 29 68 5 8 34 76L.J.A.M. Ligthart Vice-Chairman (from 15 May 2008) 73 59 17 12 90 71R.H. Matzke 1 To 15 May 2008 51 100 – – 51 100R. van Gelder 66 59 13 8 79 67D. Keller From 15 May 2008 42 – – – 42 –F.G.H. Deckers From 15 May 2008 42 – 6 – 48 –T.M.E. Ehret From 15 May 2008 42 – – – 42 –Total 438 368 41 28 479 3961Including allowance for travel from the USA.There are no options other than those granted to Mr. Keller in his former capacity as CEO of theCompany, granted and no assets available to the members of the Supervisory Board. There are neitherloans outstanding to the members of the Supervisory Board nor guarantees given on behalf ofmembers of the Supervisory Board.