My first Publication ocbc_ar17_fullreport_english | Page 154

DIRECTORS’ STATEMENT
For the financial year ended 31 December 2017
SHARE-BASED COMPENSATION PLANS (continued)
Details of options granted under the 2001 Scheme and acquisition rights granted under the ESP Plan to directors of the Bank
are as follows:
Options/rights granted
during the financial year
ended 31.12.2017 Aggregate
number of options/
rights granted since
commencement
of scheme/plan to
31.12.2017 Aggregate
number of options
exercised/rights
converted since
commencement of
scheme/plan to
31.12.2017 Aggregate
number of options/
rights outstanding at
31.12.2017 (1)
2001 Scheme
Samuel N. Tsien
Tan Ngiap Joo 772,350
– 5,337,152
811,829 712,735
811,829 4,624,417
–
ESP Plan
Samuel N. Tsien 3,342 39,584
Name of director
(1)
24,006 (2)
7,602
These details have already been disclosed in the section on “Directors’ interests in shares or debentures” above.
Excludes 4,114 rights and 3,862 rights which were not converted into shares upon expiry of the fifth offering and ninth offering respectively as the
average market price at that time was lower than the acquisition price. This was in line with the terms and conditions of the ESP Plan.
(2)
There were no changes to any of the above mentioned interests between the end of the financial year and 21 January 2018.
(c) OCBC Deferred Share Plan
The Bank implemented the OCBC Deferred Share Plan (“DSP”) in 2003. The DSP is a discretionary incentive and retention award
programme extended to executives of the Group at the absolute discretion of the Remuneration Committee.
Awards over an aggregate of 5,761,209 ordinary shares (including awards over 220,000 ordinary shares granted to a director of the
Bank) were granted to eligible executives under the DSP during the financial year ended 31 December 2017. In addition, existing
awards were adjusted following the declarations of final dividend for the financial year ended 31 December 2016, and interim
dividend for the financial year ended 31 December 2017, resulting in an additional 529,890 ordinary shares being subject to awards
under the DSP (including an additional 22,994 ordinary shares being subject to awards held by a director of the Bank holding office
as at the end of the financial year). During the financial year, 5,007,868 deferred shares were released to grantees, of which 271,875
deferred shares were released to a director of the Bank who held office as at the end of the financial year.
Except as disclosed above, there were no unissued shares of the Bank or its subsidiaries under options granted by the Bank or its
subsidiaries as at the end of the financial year.
152
OCBC ANNUAL REPORT 2017