41061 Unite AR22 HI-RES WEB-READY - Flipbook - Page 234
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THE UNITE GROUP PLC | Annual Report and Financial Statements 2022
NOTES TO THE FINANCIAL STATEMENTS continued
Section 6: Key management and employee benefits continued
6.3 Share-based compensation
A transaction is classified as a share-based transaction where the Group receives services from employees and pays
for these in shares or similar equity instruments. The Group operates a number of share-based compensation schemes
allowing employees to acquire shares in the Company.
6.3a) Share schemes
The Group operates the following schemes:
Long-Term Incentive Plan (LTIP), comprising the:
– Performance Share Plan (PSP); and
– HMRC Approved Employee Share Option Scheme (ESOS)
Save As You Earn Scheme (SAYE)
Details can be found in the Directors’ Remuneration Report
Open to employees, vesting periods of three years,
service condition
6.3b) Outstanding share options
The table below summarises the movements in the number of share options outstanding for the Group and their average
exercise price:
Outstanding at 1 January
Weighted
average
exercise
price
2022
Number
of options
(thousands)
2022
Weighted
average
exercise
price
2021
Number
of options
(thousands)
2021
£0.57
2,372
£0.83
2,672
Forfeited during the year
£3.09
(538)
£1.77
(604)
Exercised during the year
£2.52
(428)
£2.37
(354)
Granted during the year
£2.65
677
£0.69
657
Outstanding at 31 December
£0.19
2,083
£0.57
2,371
Exercisable at 31 December
£8.42
63
£5.45
99
For those options exercised in the year, the average share price during 2022 was £10.34 (2021: £10.94).
For those options still outstanding, the range of exercise prices at the year-end was 0p to 1,121p (2021: 0p to 1,084p)
and the weighted average remaining contractual life of these options was 3.8 years (2021: 2.2 years).
The Group funds the purchase of its own shares by the Employee Share Ownership Trust to meet the obligations
of the LTIP and executive bonus scheme. The purchases are shown as “Own shares acquired” in retained earnings.
As at 31 December 2022 the number of shares held by the ESOT was 205,084 (2021: 209,954).
The accounting is in accordance with the relevant standards. No further information is given as the amounts for
share-based payments are immaterial.
Section 7: Post balance sheet events
There were no post balance sheet events.
