TYRATECH • ANNUAL REPORT 2014 • PAGE 20
D i re c t o rs ' Remu n e rat i o n Rep o r t ( c o n t ' d )
Benefits represent contributions to medical insurance schemes,
life insurance, the 401(k) defined contribution plan and cost of
living allowance payments. The share based payment charge for
restricted stock grants and SARS were $74,841 (2013: $101,662).
These amounts have been included within administrative costs.
The total Directors' total cash and non-cash compensation is
$717,067 (2013: $842,546).
DIRECTORS' PENSION ARRANGEMENTS
The Executive Directors can participate in the Company's
401(k) plan and the Company will match any contributions into
the plan up to 4% of salary not to exceed $10,400 in 2014 and
$10,000 in 2013 with a tax deferral limit of $17,500 and additional
tax deferral provisions for employees age 50 and over.
DIRECTORS' STOCK BASED COMPENSATION
At 31 December 2014, the Directors had options to subscribe for
Ordinary Shares under the Company's share options scheme as
follows:
Options held Options granted Options held at Strike Grant
at 1 January 2014 in the year 31 December 2014 Price Date
Directors:
A.J.Reade 550,000 Nil 550,000 10.5p 4 Feb 2010
995,125 Nil 995,125 12.0p 20 Oct 2010
100,570 Nil 100,570 12.0p 6 Mar 2012
1,000,000 Nil 1,000,000 6.0p 25 Apr 2012
- 500,000 500,000 12.5p 4 Mar 2014
J. R. Hills 200,000 Nil 200,000 12.0p 20 Oct 2010
350,000 Nil 350,000 6.0p 25 Apr 2012
- 250,000 250,000 12.5p 4 Mar 2014
B. M. Riley 200,000 Nil 200,000 12.0p 20 0ct 2010
350,000 Nil 350,000 6.0p 25 Apr 2012
- 250,000 250,000 12.5p 4 Mar 2014
B. Jactel 500,000 Nil 500,000 6.0p 1 Jan 2013
500,000 Nil 500,000 12.0p 1 Jan 2013
500,000 Nil 500,000 15.0p 1 Jan 2013
- 1,500,000 1,500,000 12.5p 4 Mar 2014
5,245,695 2,500,000 7,745,695
