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 Home >> Report on directors' remuneration >> Deferred Bonus Plan awards at 31 March 2003

Deferred Bonus Plan awards at 31 March 2003

The following deferred bonuses have been awarded to the directors under the DBP. These shares will normally be transferred to participants at the end of the three-year deferred period if those participants are still employed by BT Group.

Total number
of award shares Expected Market value   Market value
Dividends 31 March vesting 2003 2002
1 April 2002   Awarded e Vested c f Lapsedd re-invested 2003 date £000 £000
B Verwaayen – 75,247 – – 1,749 76,996   01/08/05 121 –
P Danon 21,872 – – – 420 22,292 01/08/04 35 61
– 74,257 – – 1,726 75,983 01/08/05 119 –
A Greena 8,478 – 8,478 – – – – –
10,719 – – – 205 10,924 01/08/03 17 30
44,327 – – – 852 45,179 01/08/04 71 124
– 49,504 – – 1,150 50,654 01/08/05 80 –
Dr P Reynoldsa 2,914 – 2,914 – – – – –
4,336 – – – 83 4,419 01/08/03 7 12
32,195 – – – 618 32,813 01/08/04 52 90
– 44,554 – – 1,036 45,590 01/08/05 72 –
Former directors
Sir Peter Bonfielda c 156,056 – 156,056 – – – – –
85,090 – – – 1,635 86,725 01/08/03 136 238
149,626 – – – 2,876 152,502 01/08/04 239 419
R Bracea b 11,191 – 11,191 – – – – 31
B Cockburna b 37,995 – 37,995 – – – – 106
P Hamptond 15,553 – – 15,553 – – – 43
a Andy Green, Paul Reynolds, Sir Peter Bonfield, Robert Brace and Bill Cockburn received 68p per share on their awards vesting as compensation for the difference between the price of a BT share at the date of vesting and the demerger when the awards should have vested. The Remuneration Committee determined that the awards should continue until their normal vesting date and that participants should be compensated if there was a subsequent fall in the share price.
b The awards granted to Bill Cockburn and Robert Brace were preserved at the discretion of the Remuneration Committee on leaving until the normal vesting date.
c Under the terms of his service agreement, the awards granted to Sir Peter Bonfield were preserved on his leaving until the normal vesting date.
d The award granted to Philip Hampton lapsed on his leaving the company on 30 April 2002.
e Awards granted on 29 July 2002. On that date, the market price of a BT Group share was 202p.
f Awards granted on 28 June 1999, vested on 1 August 2002. On that date, the market price of a BT Group share was 199p. The market price on the date of grant was 764p.
g Details of the DBP are set out under Deferred Bonus Plan.

 

 

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