101
CapitaLand Limited
Annual Report 2015
Overview
Sustainability
Business
Review
Portfolio
Details
Corporate
Governance &
Transparency
Financials &
Additional
Information
Directors’ Statement
Share Plans - CapitaLand Share Option Plan, Performance Share Plan 2010 and Restricted Share Plan 2010
(continued)
(c) Awards under the CapitaLand Performance Share Plan 2010
Under the PSP 2010, the awards granted are conditional on performance targets set based on medium-term corporate
objectives. Awards represent the right of a participant to receive fully paid shares, their equivalent cash value or combinations
thereof, free of charge, upon the Company achieving prescribed performance target(s).
The ERCC grants an initial number of shares (baseline award) which are conditional on targets set for a performance
period, currently prescribed to be a three-year performance period. A specified number of shares will only be released by
the ERCC to the recipients at the end of the qualifying performance period, provided the threshold targets are achieved.
The final number of shares to be released will depend on the achievement of pre-determined targets over a three-year
performance period. No share will be released if the threshold targets are not met at the end of the performance period.
Conversely, if superior targets are met, more shares than the baseline award could be released.
For grants made in 2012 to 2014, the performance conditions and number of shares to be released subject to the
achievement of performance targets are as follows:
Final number of shares to be released
Performance conditions
2012 and 2013 grants
2014 grant
1. Group’s absolute total shareholder return measured
as a multiple of cost of equity
2. Group’s relative total shareholder return measured
as the outperformance against the MSCI Asia Pacific
ex-Japan Real Estate Index
0% to 175% of
baseline award
0% to 170% of
baseline award
For grants made in 2015, the performance conditions and number of shares to be released subject to the achievement
of performance targets are as follows:
Performance conditions
Final number of shares to be released
1. Group’s absolute total shareholder return measured
as a multiple of cost of equity
2. Group’s relative total shareholder return ranking against
a peer group of selected companies
3. Group’s return on equity to be achieved in 2017
0% to 200% of baseline award
Details of the movement in the awards of the Company during the year were as follows:
Movements during the year
Balance as at
1 January 2015
Granted Released
Lapsed/
Cancelled
Balance as at
31 December 2015
Year of
Award
No. of
holders
No. of
shares
No. of
shares
No. of
shares
No. of
shares
No. of
holders
No. of
shares
2012
75
2,744,644
–
(619,831) (2,124,813)
–
–
2013
79
3,475,634
–
–
(485,664)
65
2,989,970
2014
88
4,413,686
–
–
(716,266)
72
3,697,420
2015
–
–
3,372,984
–
(29,256)
80
3,343,728
10,633,964
3,372,984
(619,831) (3,355,999)
10,031,118
