Business Context and Reporting Period
This Form 6-K filing by Lloyds TSB Group plc, dated August 12, 2005, serves as a regulatory notification regarding director shareholding and option grants. The document does not report on the company's general business operations or financial performance for a specific fiscal period.
Key Financial Metrics
The filing text does not provide values for revenue, profit, cash flow, margins, debt, or liquidity. The document is strictly a disclosure of executive compensation arrangements.
Material Changes
No material changes to the company's financial position or operations are reported in this filing. The only change disclosed is the grant of share options to a director.
Management Commentary and Unusual Items
The filing details a share option grant to Teresa Arlene Dial, a person discharging managerial responsibilities. Key terms of the grant include:
- Date of Grant: August 11, 2005
- Shares Involved: 464,134 Ordinary Shares of 25p each
- Exercise Price: 474p per share
- Exercise Period: August 11, 2008, to August 10, 2015
- Cost of Grant: Nil
- Total Options Held Post-Grant: 706,959
Management notes that the actual number of shares to be acquired depends on the company's ranking within a peer group. Options may become exercisable earlier than the stated period under specific circumstances described in the option scheme rules.
Investor Verification Checklist
- Verify the total number of outstanding options held by Teresa Arlene Dial (706,959) against the company's latest equity incentive plan disclosures.
- Confirm the peer group ranking criteria used to determine the final number of shares acquirable under this grant.
- Review the full Option Scheme Rules to understand the specific circumstances allowing for early exercise prior to August 2008.
- Check subsequent filings for any changes to the exercise price or vesting schedule.