The following plans are awarded under the Diageo 2014 Long Term Incentive Plan
Diageo Executive Long Term Incentive Plan (DELTIP) and Diageo Associated Companies Share Incentive Plan (DACSIP) are global discretionary plans which are usually awarded once a year in September after the announcement of our annual results. If you’re eligible for these awards you have access to Factsheets located in the Documents section of your Shareworks portal account, where you will also find a copy of the DLTIP Plan rules and terms and conditions.
Diageo makes a small number of Emerging Talent Retention Plan (ETRP) awards each year to employees at Level 4 and Level 5 who generally are not eligible to receive an annual DELTIP award. These exceptional awards are used to retain and reward employees who we believe will make a significant individual impact that will enable Diageo’s future performance. If you receive this award you will have access to the Factsheet located in the Documents section of your Shareworks portal account, where you will also find a copy of the DLTIP Plan rules and terms and conditions.
The following table explains the key points of Restricted Stock Units (RSUs) and Share Options. These will be granted in either Diageo plc Ordinary Shares or American Depositary Shares (ADS) dependent on your country of employment.
|RESTRICTED STOCK UNITS||SHARE OPTIONS|
|What are they?||An award of Diageo shares that will automatically be transferred into your name normally at the end of a 3 year vesting period.*||You are granted the right to buy an allocated amount of Diageo shares at a pre-set option price set on the grant date.*|
|What is the cost of the shares?||There is no cost to you||You can purchase the shares at the pre-set option price|
|When do I receive these?||On the vesting date*||Options are normally available to exercise between 3 and 10 years from the grant date. You do not need to exercise your option and receive your shares at the point of vest.*|
|How do I transact?||RSUs will become available on their vesting date*. You will receive a communication requesting that you make your vesting choice on your portal account in advance of the vesting date.||When your options vest*they will become available to exercise on your Shareworks portal account. You can choose the transaction type including sell to cover where you sell enough shares to cover the cost of purchasing the options and any other costs.|
|Where are any retained shares held?||Any retained shares will be transferred to either the Sharestore, DRS or a Share certificate, please refer to your transaction on your portal account for more details.||Any retained shares will be transferred to either the Sharestore, DRS or a Share Certificate, please refer to your transaction on your portal account for more details.|
*unless your employment status changes. Please view leavers factsheets for further information.
Depending on the tax laws in your country, there may be a tax liability on vesting. For more information, go to the Diageo Country Specific Information and Tax Guides, which are available in the documents section of your portal account.