IMI plc annual report 2012

ENGINEERINGADVANTAGERemuneration Report9. Directors’ share awards (continued)9.1 Table of SAYE, PSP and SOP awards (continued)a) & b) No performance conditions are attached to the UK SAYE or US SAYE options.c) 2009 PSP awards were entirely based on comparative TSR (subject to the Remuneration Committee being satisfied that the relative TSRposition reflects underlying performance) with vesting at median (25% vests) to upper quartile (full vesting). 2009 PSP awards vestedin full in 2012.d) The 2009 PSP awards carried a right to receive dividend equivalents. The performance condition was satisfied in full (see above) andtechnically the award vested in March 2012. However, at this time IMI was in a prohibited period and consequently the executivedirectors were not permitted to exercise their 2009 awards. The share rights described in the table above against this note include thedividend equivalent of the 2011 final dividend paid in May 2012 as a result of this legal constraint on exercise.e) & f) 2010 and 2011 awards were based on 25% TSR measures with the vesting scales as described in c) above; 50% on EPS growthof between 6% per annum (25% vests) to 15% per annum (full vesting) over the three-year performance period; and, the other 25%,on RoOCE with vesting on a linear scale from 24% (originally 25% before adjustment made in 2011 following the acquisition of Z&J)25% vests to maximum for RoOCE of 30% (originally 32% before adjustments made in 2011 following the acquisition of Z&J).g) The 2012 awards were based on 50% EPS, 25% TSR as described in e) and c) above with the remaining 25% upon organic revenuegrowth with vesting on a linear scale from 2.7% (25% vests) to 8% per annum (100% vests).h) & i) SOP awards shown were made to I W Whiting and S Toomes prior to their appointment as executive directors and are notsubject to performance conditions. Executive directors are not eligible to participate in the SOP. The 2009 SOP Award vested on3 September 2012.*The award price is the exercise price for awards structured as options and the price used to calculate the number of shares for PSP awardsto UK participants in the PSP which are structured as deferred share awards or nil cost options and, in each case, is determined byreference to an average middle market quotation without discount.The closing price of the Company’s ordinary shares at 31 December 2012 was £10.97 per share and the closing price rangeduring the year was £7.76 to £11.07.66 Board reports