2009 Annual Report - CRH

Report on Directors’ Remuneration continued
Directors’ awards under the Performance Share Plan (i)
56 CRH
31st December
2008
(ii)
Granted in
2009
Released in
2009
(iii)
Lapsed in
2009
(iii)
31st December
2009
G.A. Culpepper (v) 11,090 - 8,316 2,774 -
Performance
period
Release
date
Market
price in euro
on award
(iv)
9,981 - - - 9,981 01/01/07 – 31/12/09 March 2010 33.55
12,199 - - - 12,199 01/01/08 – 31/12/10 March 2011 23.45
- 47,500 - - 47,500 01/01/09 – 31/12/11 March 2012 17.00
33,270 47,500 8,316 2,774 69,680
M. Lee 22,180 - 16,632 5,548 -
19,962 - - - 19,962 01/01/07 – 31/12/09 March 2010 33.55
27,725 - - - 27,725 01/01/08 – 31/12/10 March 2011 23.45
- 70,000 - - 70,000 01/01/09 – 31/12/11 March 2012 17.00
69,867 70,000 16,632 5,548 117,687
A. Manifold (v) 9,981 - 7,484 2,497 -
16,635 - - - 16,635 01/01/07 – 31/12/09 March 2010 33.55
27,725 - - - 27,725 01/01/08 – 31/12/10 March 2011 23.45
- 47,500 - - 47,500 01/01/09 – 31/12/11 March 2012 17.00
54,341 47,500 7,484 2,497 91,860
W.I. O’Mahony 66,542 - 49,899 16,643 -
M.S. Towe 24,953 - 18,712 6,241 -
18,853 - - - 18,853 01/01/07 – 31/12/09 March 2010 33.55
23,289 - - - 23,289 01/01/08 – 31/12/10 March 2011 23.45
- 76,000 - - 76,000 01/01/09 – 31/12/11 March 2012 17.00
67,095 76,000 18,712 6,241 118,142
(i) Performance Share Plan This is a long-term share incentive plan under which share awards are granted in the form of a provisional allocation of shares for which
no exercise price is payable. The shares scheduled for release in March 2010, March 2011 and March 2012 will be allocated to the extent that the relative TSR
performance conditions are achieved. The structure of the Performance Share Plan is set out on page 51.
(ii) Restated for the bonus element of the 2 for 7 Rights Issue in 2009.
(iii) On 25th March 2009, the Remuneration Committee determined that 74.99% of the 2006 award vested and that portion of the award was released to participants.
The balance of the 2006 award lapsed.
(iv) The Trustees of the CRH plc Employee Benefit Trust purchased Ordinary Shares at €24.82 per share on 21st June 2006 in respect of the 2006 award, and at
€33.55 per share on 11th April 2007 in respect of part of the 2007 award. No shares were purchased in respect of the 2008 award. No dividends are payable on
these shares until such time as they are released to plan participants.
(v) Mr. G.A. Culpepper and Mr. A. Manifold became Directors on 1st January 2009. The opening balances above relate to the position at date of appointment
restated for the bonus element of the 2009 Rights Issue.