Executive directors are required to develop a personal shareholding of five times salary within a reasonable period of time from appointment. It is the stated intention of the policy that executive directors build this level of personal shareholding primarily by retaining those shares that vest in the deferred bonus and performance share plans which are part of the EDIP. In assessing whether the requirement has been met, the committee takes account of the factors it considers appropriate, including promotions and vesting levels of these share plans, as well as any abnormal share price
★ Defined on page 252.
fluctuations. The table below shows the status of each of the executive directors in developing this level. These figures include the value as at 23 February 2015 from the directors’ interests shown below plus the assumed vesting of the 2012-2014 performance shares and is consistent with the figures reported in the single figure table on page 75.