Annual report and accounts 2016

214
Spanish corporate governance report continued
Director Plan Date of award
Enrique Dupuy
de Lôme
IAG IADP
2013
IAG IADP
2014
Number of
awards at
January 1, 2016
Awards
released during
the year Date of vesting
March 6,
2013 62,241 62,241
March 6,
2014 50,862 0
IAG IADP
2015 May 28, 2015 50,252 0
IAG IADP
2016
March 7,
2016 0 0
Awards lapsed
during the year
Awards made
during the year
Number of
awards at
December 31,
2016
March 6,
2016 0 0 0
March 6,
2017 0 0 50,862
March 8,
2018 0 0 50,252
March 7,
2019 0 44,665 44,665
Total – – 163,355 62,241 – 0 44,665 145,779
For the year to December 31, 2016, the €:£ exchange rate applied is 1.2347.
C.1.3 Additional information to company management structure
Pursuant to Spanish Companies Law, on January 21, 2016, Mr. Antonio Vázquez became an independent director since five years
had elapsed since his removal as Executive Chairman of Iberia prior to the merger with British Airways.
D.5 Additional information to related party and intragroup transactions
The Group’s related-party transactions included total sales to associate companies of 7,159 thousand of euros and total purchases
from associate companies of 49,157 thousands of euros.
Additional information as a result of the Company also being listed on the London Stock Exchange
The Company is subject to the UK Listing Rules, including the requirement to explain whether it complies with the UK Corporate
Governance Code published by the UK Financial Reporting Council as amended from time to time.
During the year the Company considers it has complied with all the provisions of the UK 2014 Corporate Governance Code but for
the following matter: The service contract for Mr. Antonio Vázquez does not comply with the recommendation that notice periods
should be set at one year or less so as to limit any payment on exit. Details can be found in the Directors’ Remuneration Report.
The Company believes that, notwithstanding this exception, it has a robust governance structure.
ADDITIONAL INFORMATION IN RELATION TO THE CODE OF GOOD TAX PRACTICES
Iberia, representing IAG, has joined the Code of Good Tax Practices approved by Spain’s Forum of Big Companies.
INTERNATIONAL AIRLINES GROUP
Annual Report and Accounts 2016