Remuneration of Directors
|P Fellner (Chairman)||125||–||–||–||–||125||124|
* Cash bonus only. The bonus awarded under the deferred bonus plan is shown in Unaudited Information.
† Mr Woolrych resigned as a director of the Company on 29 June 2012.
‡ Mr Banks and Mr Dick retired as non-executive directors on 30 August 2012.
§ Mr Higgins resigned as a director of the Company on 28 February 2013.
∆ Mr Cotton joined the Company on 25 June 2013.
◊ Mr Nicholson and Mr Crummett joined the Company on 13 June 2012.
|Name||Plan Type||Outstanding awards as at |
1 May 2012
awards as at
30 April 2013
|Market price |
|Earliest Date |
|J. Glenn||2005 LTIP||77,647||–||(77,647)||–||£4.250||October 2012||November 2012|
|2005 LTIP||86,900||–||–||86,900||£3.855||August 2013||September 2013|
|2005 LTIP||6,726*||–||–||6,726*||£4.460||September 2013||October 2013|
|2010 CSOP||6,726||–||–||6,726||£4.460||September 2013||October 2013|
|2005 LTIP||70,169||–||–||70,169||£5.615||August 2014||September 2014|
|2005 LTIP||–||63,446||–||63,446||£6.210||June 2015||July 2015|
|R Cotton||2005 LTIP||–||35,987||–||35,987||£6.530||June 2015||August 2015|
|2005 LTIP||–||4,594*||–||4,594*||£6.530||June 2015||August 2015|
|2010 CSOP||–||4,594||–||4,594||£6.530||June 2015||August 2015|
|T. Woolrych||2005 LTIP||47,059||–||(47,059)||–||£4.250||October 2012||November 2012|
|Resigned||2005 LTIP||33,074||–||(12,041)||21,033†||£3.855||August 2013||September 2013|
|29/6/12||2005 LTIP||6,726*||–||(2,749)||3,977*†||£4.460||September 2013||October 2013|
|2010 CSOP||6,726||–||(2,749)||3,977†||£4.460||September 2013||October 2013|
|2005 LTIP||28,717||–||(19,992)||8,725†||£5.615||August 2014||September 2014|
|N. Higgins||2005 LTIP||41,604||–||(41,604)||–||£3.850||January 2013||February 2013|
|Resigned||2005 LTIP||34,046||–||(4,815)||29,231†||£3.855||August 2013||September 2013|
|28/2/13||2005 LTIP||6,726*||–||(1,252)||5,474*†||£4.460||September 2013||October 2013|
|2010 CSOP||6,726||–||(1,252)||5,474†||£4.460||September 2013||October 2013|
|2005 LTIP||39,804||–||(18,849)||20,955†||£5.615||August 2014||September 2014|
|2005 LTIP||–||35,990||(27,642)||8,348†||£6.210||June 2015||July 2015|
* LTIP awards made to fund the exercise price of the linked CSOP granted on the same date.
† Pro-rated award to date of leaving.
All 2005 LTIP awards presented in the table above are Performance Shares subject to relevant performance conditions.
The closing price of the shares at 30 April 2013 was 800 pence (30 April 2012: 663 pence). The highest and lowest middle market prices during the period were 831.5 pence and 584 pence respectively.
At 30 April 2013 there were 511,378 shares in the Company's share ownership trust (2012: 419,564).
The beneficial interests of the directors on 30 April 2013 (including the beneficial interests of their spouses, civil partners, children and step children) in the ordinary shares of the Company are shown below:
|SAYE||CSOP||Deferred Bonus |
|P Fellner (Chairman)||4,000||4,000||–||–||–||–||–||–||–||–|
* Mr Woolrych resigned as a director of the Company on 29 June 2012.
† Mr Banks and Mr Dick retired as non-executive directors on 30 August 2012.
‡ Mr Higgins resigned as a director of the Company on 28 February 2013.
Performance conditions for the LTIP awards made in 2009 were not met. The awards have lapsed in full. The period for measuring the performance conditions for the LTIP awards made in 2010 expired in April 2013. The Committee has determined after receiving advice and analysis from Deloitte that the performance condition was met and awards will vest in August 2013 (September 2013 for related CSOP awards).
SAYE = Save As You Earn employee share option scheme. These options are not subject to performance conditions. This is an all-employee share scheme governed by specific tax legislation.
Since 30 April 2013, no directors have acquired interests in the ordinary shares of the Company.
None of the directors had a material interest at any time during the period in any contract of significance, other than a service contract, with the Company or any of its subsidiaries.
Senior Executives' Remuneration
Policy on Senior Executives' Remuneration
In addition to the executive directors, there are three senior executives who are members of the Group Executive Committee. The reward structure of the senior executives is similar to that of the executive directors.
Consort Medical plc TSR
The graph below shows the growth in value of a hypothetical £100 invested in Consort Medical plc ordinary shares on 1 May 2008 over five years compared with £100 invested in the FTSE Healthcare Sector and the FTSE Small Cap over the same period.
The Remuneration Report was approved by the Board and signed on its behalf.
Dr William Jenkins
Chairman of the Remuneration Committee
12 June 2013