UOB Annual Report 2002 - United Overseas Bank

Share Options of the Bank
(a) From 1990 to 1998, share options were granted by the Bank pursuant to the UOB Executives’ Share Option Scheme in respect
of unissued ordinary shares of $1 each to officers of the Bank and its subsidiaries who are in the corporate grade of
Vice President rank and above and are not substantial shareholders of the Bank. Particulars of the share options granted under
this scheme in 1998 (hereinafter called “Options 1998”) have been set out in the directors’ report for the year ended
31 December 1998.
(b)
(c)
(d)
On 6 October 1999, the Bank’s shareholders approved the adoption of the UOB 1999 Share Option Scheme to replace the
UOB Executives’ Share Option Scheme. Under the UOB 1999 Share Option Scheme, options may be granted to employees in the
corporate grade of Vice President (or an equivalent rank) and above and selected employees below the corporate grade of
Vice President (or an equivalent rank) of the Bank and its subsidiaries, and to directors and controlling shareholders. Particulars
of the share options granted under this scheme in 1999 and 2000 (hereinafter called “Options 1999” and “Options 2000”
respectively) have been set out in the directors’ reports for the financial years ended 31 December 1999 and 2000 respectively.
During the financial year, no options were granted pursuant to the UOB 1999 Share Option Scheme.
Statutory and other information regarding the options is as follows:
(i) Options Option Period Offer Price
$
UOB Executives’ Share Option Scheme
1998 14 September 1999 to 13 June 2003 3.14
UOB 1999 Share Option Scheme
1999 27 December 2000 to 26 December 2004 14.70
2000 11 December 2001 to 10 December 2005 12.90
(ii)
The share options expire at the end of the respective option periods unless they lapse earlier in the event of death, bankruptcy
or cessation of employment of the participant or the take-over or winding up of the Bank. Further details of the
UOB Executives’ Share Option Scheme and the UOB 1999 Share Option Scheme (“the Schemes”) are set out in the circulars
to shareholders dated 18 January 1990 and 10 September 1999 respectively.
UNITED OVERSEAS BANK 85