47153 AG Barr Annual Report 2025 AW4 SQ WEB - Flipbook - Page 190
A.G. BARR p.l.c. Annual Report and Accounts 2025
N OTE S
TO TH E
ACCO U NT S
CO N TI N U ED
28. Share-based payments
As disclosed in the Directors’ Remuneration Report, the Group runs a number of share award plans and share option plans:
• Savings Related Share Option Scheme which is open to all employees in participating companies
• LTIP options which are granted to executive directors and senior executives
• AESOP awards that are available to all employees in participating companies
Share-based payment costs and related deferred and current tax charges are recognised within the share option reserve.
Savings Related Share Option Scheme (SAYE)
All SAYEs outstanding at 25 January 2025 and 28 January 2024 have no performance criteria attached other than the requirement for the employee to remain in the employment
of the Company and to continue contributing to the plan. Options granted under the SAYE must be exercised within six months of the relevant award-vesting date.
The SAYE is open to all qualifying employees in employment at the date of inception of the scheme. Options are normally exercisable after three or five years from the date of
grant. The price at which options are offered is not less than 80% of the average of the middle-market price of the five dealing days immediately preceding the date of invitation.
The movements in the number of share options outstanding and their related weighted average exercise prices determined using the Black-Scholes valuation model
are as follows:
2024
2025
Options
Average
exercise price in
pence per share
Options
Average
exercise price in
pence per share
At start of the year
Granted
Forfeited
Exercised
572,010
262,111
(92,343)
(208,724)
470p
567p
487p
560p
672,550
289,475
(89,961)
(300,054)
530p
463p
442p
428p
At end of the year
533,054
517p
572,010
470p
The weighted average fair value of the share awards made during the period was determined using the Black-Scholes valuation model. The significant inputs to the model
were as follows:
Date of grant
Number of share awards granted
Share price at date of grant
Contractual life in years
Dividend yield
Expected outcome of meeting performance criteria (at grant date)
Fair value determined at grant date
SAYE 3 Year
24 May 2024
SAYE 5 Year
24 May 2024
218,463
567p
3
2%
70%
43,648
5.67p
5
2%
70%
118p
169p
None of the options listed above were exercisable at the respective year end dates. The outstanding options at the year end had exercise prices of £5.06, £4.63 and £5.10
(2024: £4.28, £4.59, £5.06, and £4.63).
The weighted average share price on the dates that options were exercised in the year to 25 January 2025 was £6.09.
The weighted average remaining contractual life of the outstanding share options at the year end is two years (2024: two years).
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