Positioning for the Future | 101
Appendix
Directors’ Report
SHARE PLANS – CAPITALAND SHARE OPTION PLAN, PERFORMANCE SHARE PLAN AND RESTRICTED
SHARE PLAN
(cont’d)
(d) Awards under the CapitaLand Restricted Share Plan
(cont’d)
The above performance measures are selected as they are the key drivers of shareholder value and are aligned
to the Company’s business objectives. The mnal number of shares to be released will depend on the achievement
of pre-determined targets at the end of a one-year performance period. No share will be released if the threshold
targets are not met at the end of the performance period. On the other hand, if superior targets are met, more
shares than the baseline award could be delivered up to a maximum of 150% of the baseline award. Once the
mnal number of shares has been determined, it will be released over a vesting period of three years. Recipients
can receive fully paid shares, their equivalent cash value or combinations thereof, at no cost. For awards granted
in 2014, an additional number of shares of a total value equal to the value of the accumulated dividends which are
declared during each of the vesting periods and deemed forgone due to the vesting mechanism of the CapitaLand
Restricted Share Plan 2010, will also be released on the mnal vesting.
From 2012, cash-settled award plan for non-managerial grade employees in Singapore, Malaysia and Japan has
been replaced by a Restricted Cash Plan (RCP). Under RCP, a cash bonus is distributed to eligible employees
at the end of each mnancial year based on the Group’s mnancial performance and achievement of performance
targets, as well as individual performance.
Details of the movement in the awards by the Company during the year were as follows
Movements during the year
Balance as at
1 January 2014
Granted
Released
+
Lapsed/
Cancelled
Balance as at
31 December 2014
Year of
Award
No. of
holders
No. of
shares
No. of
shares
No. of
shares
No. of
shares
No. of
holders
No. of
shares
2011
771
1,548,373
–
(1,524,726)
(23,647)
–
–
2012
603
4,923,506
–
(2,429,139)
(323,741)
602
2,170,626
2013
700
7,042,457
877,187
(1,929,154) (1,791,296)
625
4,199,194
2014
–
– 11,910,175
(179,004)
(877,493)
1,498
10,853,678
13,514,336 12,787,362
(6,062,023) (3,016,177)
17,223,498
+
The number of shares released during the year was 6,062,023, of which 346,750 were cash-settled.
As at 31 December 2014, the number of shares comprised in awards granted under the CapitaLand Restricted
Share Plan is as follows
Equity-settled
Cash-settled
Total
Final number of shares has not been determined
(baseline award)
#
9,875,588
978,090
10,853,678
Final number of shares determined but not released
6,138,452
231,368
6,369,820
16,014,040
1,209,458
17,223,498
#
The mnal number of shares released could range from 0% to 150% of the baseline award.
