UOB Annual Report 2002 - United Overseas Bank

(c)
Equity Compensation Benefits
Options to subscribe for ordinary shares of $1 each in the Bank are granted pursuant to the UOB Executives’ Share Option
Scheme and the UOB 1999 Share Option Scheme to employees of the UOB Group with the corporate grade of Vice President (or
an equivalent position) and above as well as selected employees below Vice President, subject to certain restrictions.
Movements in the number of shares under the options held by employees of the Group are as follows:
2002 2001
’000 ’000
Outstanding at 1 January 3,077 3,807
Exercised (494) (377)
Lapsed (183) (353)
Outstanding at 31 December 2,400 3,077
Details of the unissued ordinary shares of $1 each of the Bank under option at the end of the financial year are set out below:
Price Per Share
Year in which Options were Payable in Full Date of Expiration
Granted Under the Schemes Upon Application of Option Number of Shares
2002 2001
‘000 ‘000
1997 8.25 5 February 2002 – 115
1998 3.14 14 June 2003 10 50
1999 14.70 27 December 2004 1,211 1,384
2000 12.90 11 December 2005 1,179 1,528
2,400 3,077
Details of share options exercised during the year to subscribe for ordinary shares of $1 each in the Bank are as follows:
Year in which Options were
Consideration
Granted Under the Schemes Exercise Price Number of Shares Issued Received in Cash
2002 2001 2002 2001
‘000 ‘000 $‘000 $‘000
1996 9.17 – 212 – 1,944
1997 8.25 109 121 899 998
1998 3.14 39 44 122 139
1999 14.70 28 – 412 –
2000 12.90 318 – 4,102 –
494 377 5,535 3,081
UNITED OVERSEAS BANK 107