British Airways PLC
10 June 2003
10 June 2003
BRITISH AIRWAYS LONG TERM INCENTIVE PLAN AWARDS
The Company has today notified Mr R I Eddington, Mr J F Rishton and Mr M A
Street, Directors of the Company, of conditional awards of ordinary share
options at nil cost under the British Airways Long Term Incentive Plan of
294,643, 160,714 and 171,429 respectively, which were formally granted to each
of them on 9 June 2003. The awards will vest at the end of the three year
period starting with the year of the award only if the performance of British
Airways measured by total shareholder return ('TSR') relative to companies
within the FTSE 100 index is satisfactory. If the British Airways TSR
performance places the Company in the top ten per cent then all the share
options awarded will be granted; at the 75th percentile in the ranking only
sixty-five per cent of the share options awarded will be granted, whilst median
performance will deliver thirty per cent of the share options. No awards will
vest for less than median performance.
Alan Buchanan
Company Secretary
This information is provided by RNS
The company news service from the London Stock Exchange
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