| Share
options held at 31 March 2003 |
|
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Number
of shares under option
|
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Usual
date
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Option
exercise
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|
from
which
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Usual
expiry
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|
1
April 2002
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|
Granted
|
|
Lapsedf
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|
31
March 2003
|
|
price
per share
|
|
exercisable
|
|
date
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|
| Sir
Christopher Bland |
314,244 |
a |
– |
|
– |
|
314,244 |
|
318
|
p |
01/05/04 |
|
01/05/11 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| B
Verwaayen |
1,121,121 |
b |
– |
|
– |
|
1,121,121 |
|
250
|
p |
11/02/05 |
|
11/02/12 |
|
| |
– |
|
935,830 |
c |
– |
|
935,830 |
|
187
|
p |
29/07/05 |
|
29/07/12 |
|
| |
– |
|
561,500 |
d |
– |
|
561,500 |
|
187
|
p |
29/07/05 |
|
29/07/12 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,121,121 |
|
1,497,330 |
|
|
|
2,618,451 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| P
Danon |
– |
|
601,610 |
c |
– |
|
601,610 |
|
187
|
p |
29/07/05 |
|
29/07/12 |
|
| |
– |
|
360,970 |
d |
– |
|
360,970 |
|
187
|
p |
29/07/05 |
|
29/07/12 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
– |
|
962,580 |
|
– |
|
962,580 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| A
Green |
567 |
f |
– |
|
567 |
|
– |
|
653
|
p |
19/11/01 |
|
13/05/02 |
|
| |
– |
|
2,905 |
e |
– |
|
2,905 |
|
255
|
p |
14/08/05 |
|
13/02/06 |
|
| |
– |
|
568,190 |
c |
– |
|
568,190 |
|
187
|
p
|
29/07/05 |
|
29/07/12 |
|
| |
– |
|
340,910 |
d |
– |
|
340,910 |
|
187
|
p |
29/07/05 |
|
29/07/12 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
567 |
|
912,005 |
|
567 |
|
912,005 |
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|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| I
Livingston |
– |
|
7,290 |
e |
– |
|
7,290 |
|
227
|
p |
14/08/07 |
|
13/02/08 |
|
| |
– |
|
601,610 |
c |
– |
|
601,610 |
|
187
|
p |
29/07/05 |
|
29/07/12 |
|
| |
– |
|
360,970 |
d |
– |
|
360,970 |
|
187
|
p |
29/07/05 |
|
29/07/12 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
– |
|
969,870 |
|
– |
|
969,870 |
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|
|
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|
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|
| Dr
P Reynolds |
1,483 |
f |
– |
|
1,483 |
|
– |
|
465
|
p |
19/11/01 |
|
13/05/02 |
|
| |
4,555 |
g |
– |
|
– |
|
4,555 |
|
218
|
p |
14/02/07 |
|
14/08/07 |
|
| |
– |
|
534,760 |
c |
– |
|
534,760 |
|
187
|
p |
29/07/05 |
|
29/07/12 |
|
| |
– |
|
320,860 |
d |
– |
|
320,860 |
|
187
|
p |
29/07/05 |
|
29/07/12 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6,038 |
|
855,620 |
|
1,483 |
|
860,175 |
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| Total |
1,441,970 |
|
5,197,405 |
|
2,050 |
|
6,637,325 |
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| All
of the above options were granted for nil consideration.
No options were exercised during the year. |
| |
| a
Options granted under the GSOP. The option
is not subject to a performance measure. It was
a term of Sir Christopher Bland’s initial service
contract that (i) he purchased BT shares to
the value of at least £1 million; and (ii)
as soon as practicable after the purchase of the
shares (‘invested shares’), the company
would grant a share option over shares to the value
of at least £1 million. So long as Sir Christopher
Bland is the legal and beneficial owner of
the invested shares purchased on 1 May 2001, the
option will become exercisable on 1 May 2004. The
option was granted on 22 June 2001. |
| b
Options granted under the GSOP on 11 February
2002. The exercise of options is subject to a performance
measure being met. The performance measure
is relative TSR compared with the FTSE 100. BT’s
TSR must be in the upper quartile for all of the
options to become exercisable. At median, 40%
of the options will be exercisable. Below that point,
none of the options may be exercised. |
| c
Options granted under the GSOP on 29 July
2002. The exercise of options is subject to a performance
measure being met. The performance measure is
relative TSR compared with the FTSE 100. Details
are set out under Share options. |
| d
Options granted under the GSOP on 29 July
2002. The exercise of options is subject to a performance
measure being met. The performance measure is
earnings per share. Details are set out under Share
options. |
| e
Options granted on 24 June 2002 under the
Employee Sharesave Scheme, in which all employees
of the company are eligible to participate. |
| f
Options granted under the Employee Sharesave
Scheme to Andy Green and Paul Reynolds on 23 June
2000 and 25 June 1998 respectively. |
| g
Options granted on 21 December 2001 under
the Employee Sharesave Scheme, in which all employees
of the company are eligible to participate. |
| h
Details of the GSOP and performance conditions
are set out under Share options. |
There
were no unrealised gains on the above share options
at 31 March 2003, based on the market price of the shares
at that date.
At 31 March 2002, Ben Verwaayen had unrealised gains
of £339,000 in respect of 1,121,121 shares under
option under the GSOP. Paul Reynolds had unrealised
gains of £3,000 in respect of 6,038 shares under
option under the Employee Sharesave Scheme.
The market price of the shares at 31 March 2003 was
157p (2002 – 280p) and the range during the 2003
financial year was 286.25p – 141p.
|
