2006 20-F - Sappi

SAPPI
NOTES TO THE GROUP ANNUAL FINANCIAL STATEMENTS (Continued)
for the year ended September 2006
39. DIRECTORS’ PARTICIPATION IN THE SAPPI LIMITED SHARE INCENTIVE TRUST AND PERFORMANCE SHARE INCENTIVE
PLAN
Share options, allocation shares and performance shares
The following table sets out all share options (whether vested or unvested), all other unvested allocation shares and performance shares
granted to, and exercised by, each executive director in terms of the Sappi Limited Share Incentive Trust and Performance Share Incentive Plan
during the year ended September 2006. These interests are also included in “Directors interests” in note 38. Details of share dealings are
included in the second table.
Non-executive directors do not have any allocation shares, share options or performance shares. Executive directors who retire have 12
months in which to settle their share options and allocation shares, unless extension is granted by the human resources committee of the board
of directors. For performance shares there is a formula by which retired executive directors will receive a proportion of any shares which may
have vested at the end of the four year period.
Executive Directors JL Job (6) MR Thompson (3) JCA Leslie (4) W Pfarl DG Wilson (5) E van As (1) Total 2006 Total 2005
Allocated No of Allocated No of Allocated No of Allocated No of Allocated No of Allocated No of No of No of
price shares price shares price shares price shares price shares price shares shares shares
Outstanding at September 2005
Number of shares held........... 194,000 450,000 177,000 250,000 250,000 1,321,000 1,347,000
Issue 23a.................... R 39.00 44,000 — — — — R 21.30 48,000 — —
Issue 24..................... R 53.85 30,000 — — R 53.85 50,000 R 53.85 50,000 R 53.85 100,000
Issue 25..................... R 49.00 25,000 — — R 49.00 25,000 R 49.00 25,000 R 49.00 50,000
Issue 26..................... R 147.20 30,000 — — — — R 147.20 25,000 R 147.20 50,000
Issue 27..................... R 112.83 30,000 — — R 112.83 30,000 R 112.83 30,000 R 112.83 50,000
Issue 27a.................... — — R 115.00 250,000 — — — — — —
Issue 28..................... R 79.25 15,000 R 79.25 100,000 R 79.25 30,000 R 79.25 30,000 — —
Issue 28a.................... — — — — — — — — — —
Issue 29..................... R 78.00 20,000 R 78.00 60,000 R 78.00 30,000 R 78.00 30,000 — —
Performance shares 29 (2) ......... — — — 40,000 — 12,000 — 12,000 — —
Offered and accepted
Issue 29..................... — — — 140,000
Performance shares 30 (2) ......... — — — — — 100,000 — 42,000 42,000 — — 184,000 64,000
Paid for
Number of shares.............. 99,000 — — 142,500 241,500 230,000
Weighted average allocated price.... 46.02 — — 45.41
Returned, lapsed and forfeited
Number of shares.............. 175,000 — 149,500 — 324,500
Weighted average allocated price.... — 78.71 — 107.28 —
Resignation of Director
Number of shares.............. 95,000 375,000 470,000
Weighted average allocated price.... 111.05 102.93 —
Appointment as Director
Number of shares.............. 164,000 — 164,000
Weighted average allocated price.... — 91.50 —
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