Cordiant unveils the `Super' share
Tuesday 21 February 1995
A company spokesman said that this was not a guaranteed profit for Mr Scott, and that the new share option schemes needed the approval of an extraordinary meeting of shareholders on 16 March. He added that precise working details of the schemes, and which other executives might receive the Super options, had still to be decided by the new Remuneration and Nominations Committee.
The company also said it felt the new schemes would not attract the flak directed at former chairman Maurice Saatchi for an alternative share option scheme that helped trigger his ousting last year.
A spokesman said: "The new schemes are very different because they are within the guidelines of the Association of British Insurers. The previous one was not."
Cordiant is understood to have taken soundings from institutional investors about the proposed schemes - embracing a performance share option scheme and a so-called phantom share plan - and received a positive response.
The super options, which could also affect other top group executives, is dependent on the company achieving growth in earnings per share which put it in the top 25 per cent of FT-SE 100 companies over five years. They will only be exercisable after the fifth anniversary of the date of grant.
The ordinary options will only become exercisable if, over any three years from their date of grant, earnings per share have grown by a greater annual percentage than inflation plus 2 per cent. The ordinary options will be open to up to 30 or 40 executives who could subscribe for shares worth four times their salary.
- 2 Italian police 'reveal' what Jesus looked like as a young boy
- 3 General Election 2015: 14-year-old boy asks Nick Clegg – 'can you kill Katie Hopkins?'
- 4 University student in court for allegedly covering housemates' food in window cleaner and spit
- 5 Ryan Gosling posts tribute to 'Ryan Gosling Won't Eat His Cereal' creator Ryan McHenry
Italian police 'reveal' what Jesus looked like as a young boy
Who should I vote for? The Independent quiz matches best political party for undecided voters ahead of the general election
Mysterious 'X-Files' sounds heard miles above the Earth
Garland shooting: Isis claims attack on Prophet Mohamed cartoon contest in Texas as its first action on US soil
Met Gala 2015: Beyoncé manages to out-skimp Rihanna, Miley and Kim Kardashian combined with near-naked ensemble
In defence of liberal democracy
Over 50,000 families shipped out of London boroughs in the past three years due to welfare cuts and soaring rents
EU asylum policy is 'a direct threat to our civilisation', says Nigel Farage
The Rothschild Libel: Why has it taken 200 years for an anti-Semitic slur that emerged from the Battle of Waterloo to be dismissed?
General Election 2015: UK will be 'run for the wealthy and powerful' if Tories retain power, Labour warns
General election live: SNP suspends two members for disrupting Labour rally
iJobs Money & Business
£20000 - £25000 per annum + Uncapped commission: SThree: Can you speak German,...
£25000 - £30000 per annum + benefits: Ashdown Group: An exciting opportunity f...
£215 per day: Ashdown Group: Junior Project Manager (website, web application ...
£40-50K: Guru Careers: We are seeking an experienced Software Engineer / Softw...