Downloads

Order a printed Report

Audited part of Remuneration Report continued

Previous page  2 of 2

Share awards and matching awards under the Performance Share Plan (a)
    Performance Share Plan
  Date of award 1 April 2006 Awarded during
year (e)		 Transferred
during year (b)		 31 March
2007 (c)		 Transfer
date
Executive directors            
Peter Clarke June 2002 168,468 – 168,468 –  
  June 2003 134,742 – – 134,742 June 2007
  June 2004 112,068 – – 112,068 June 2008
  June 2005 133,164 – – 133,164 June 2009
  June 2006 – 95,370 – 95,370 June 2010
Kevin Davis June 2002 168,468 – 168,468 –  
  June 2003 134,742 – – 134,742 June 2007
  June 2004 112,068 – – 112,068 June 2008
  June 2005 133,164 – – 133,164 June 2009
  June 2006 – 95,370 – 95,370 June 2010
Stanley Fink June 2002 230,868 – 230,868 –  
  June 2003 182,016 – – 182,016 June 2007
  June 2004 149,418 – – 149,418 June 2008
  June 2005 177,552 – – 177,552 June 2009
  June 2006 – 110,124 – 110,124 June 2010
Former executive director
Chris Chambers (c) June 2003 134,742 – 134,742 –  
  June 2004 85,662 – – 85,662 June 2007
  June 2005 57,276 – – 57,276 June 2008
             
    Performance Share Plan
    Number of awards
  Date of award 1 April 2006 Awarded during
year (e)		 Transferred
during
year (b)		 31 March
2007 (c)		 Transfer
date
Executive directors            
Peter Clarke June 2002 168,468 – 168,468 –  
  June 2003 134,742 – – 134,742 June 2007
  June 2004 112,068 – – 112,068 June 2008
  June 2005 133,164 – – 133,164 June 2009
  June 2006 – 95,370 – 95,370 June 2010
Kevin Davis June 2002 168,468 – 168,468 –  
  June 2003 134,742 – – 134,742 June 2007
  June 2004 112,068 – – 112,068 June 2008
  June 2005 133,164 – – 133,164 June 2009
  June 2006 – 95,370 – 95,370 June 2010
Stanley Fink June 2002 230,868 – 230,868 –  
  June 2003 182,016 – – 182,016 June 2007
  June 2004 149,418 – – 149,418 June 2008
  June 2005 177,552 – – 177,552 June 2009
  June 2006 – 110,124 – 110,124 June 2010
Former executive director          
Chris Chambers (c) June 2003 134,742 – 134,742 –  
  June 2004 85,662 – – 85,662 June 2007
  June 2005 57,276 – – 57,276 June 2008
             
Notes to the above two tables:
(a) No award will be transferred unless the Group maintains an average annual Return on Equity of at least 20% across the performance period. Awards will be transferred at levels above this on a linear sliding scale. Full benefits of an award can only be transferred when annual Return on Equity has averaged 30% or more. Entitlements are subject to an additional one-year restriction on transfer to participants dependent upon continued employment with the Group. During the year, the 2002 awards vested at 100% and were transferred in June 2006. The 2003 awards will vest at 100% and will be transferred later in the year.
(b) Shares awarded to Peter Clarke, Kevin Davis and Stanley Fink in 2002 and to Chris Chambers in 2003, and matching shares awarded to Peter Clarke, Kevin Davis and Stanley Fink in 2002 and Chris Chambers in 2003 under the Performance Share Plan were transferred to them on 21 June 2006. The share price was 396.83 pence at that date giving the following market values: Peter Clarke £1,909,927; Kevin Davis £1,165,085; Stanley Fink £8,426,550; and Chris Chambers £1,941,784.
(c) Of the Performance Share Plan shares outstanding at 31 March 2007, the following shares will be transferred later in the year: Peter Clarke 134,742 shares; Kevin Davis 134,742 shares; Stanley Fink 182,016 shares; and Chris Chambers 85,662 shares.
(d) Of the matching shares awarded under the Performance Share Plan outstanding at 31 March 2007, the following shares will be transferred later this year following the sale of Man Financial: Kevin Davis 778,812 shares; Stanley Fink 945,552 shares; and Chris Chambers 314,088 shares.
(e) In relation to shares awarded on 21 June 2006, the share price was 393.2 pence representing the five-day average prior to that date.
             
Matching share awards under the Group’s Co-Investment Plan (a)
  Outstanding
at 31 March
2006		 Awarded
during
year (e)		 Excercised
in year		 Outstanding
at 31 March
2007 (c)
Chris Chambers (b) 280,338 – 280,338 –
         
Notes:
(a) Details of the performance conditions relating to the Group’s Co-Investment Scheme are given in the Remuneration Report.
(b) Chris Chambers was granted matching awards under this scheme prior to his appointment as a director. In accordance with the terms of his termination agreement, 280,338 matching shares were transferred to Chris Chambers on 21 June 2006 when the share price was 396.83 pence giving a market value of £1,112,475. The exercise price was £1 in aggregate.
 
         
      31 March 2007 31 March 2006
Executive directors        
Peter Clarke     4,348,499 4,015,110
Kevin Davis (a)     6,429,571 6,228,066
Stanley Fink (a)     24,070,048 25,828,536
Non-executive directors        
Jon Aisbitt     1,500,000 1,500,000
Alison Carnwath     426,546 418,530
Dugald Eadie     363,000 384,000
Harvey McGrath     31,980,800 32,980,800
Glen Moreno     100,000 120,000
Former directors        
Jonathan Nicholls (b)     30,000 30,000
         
Notes:
(a) All of the above interests are beneficial, except the interests of Kevin Davis and Stanley Fink ,which include their non-beneficial interests in 918,000 and 765,000 ordinary shares respectively held by them as trustees of trusts of which they are also beneficiaries.
(b) Interest as at 20 July 2006: date of Jonathan Nicholls’ resignation as a director.
(c) There has been no change in the directors’ interests in the ordinary shares of Man Group plc from 31 March 2007 to the date of this report.

The market price of the Company’s shares at the end of the financial year was £5.55. The highest and lowest daily closing share prices during the financial year were £5.96 and £3.57 respectively.

For and on behalf of the Board
Dugald Eadie
Chairman, Remuneration Committee
31 May 2007