Singtel share awards: how vesting works

WE thank Gerrard Ball for his question on Singtel performance shares ("Singtel performance shares: What's the moratorium", BT, June 26).

Singtel's long-term incentive scheme is a reward system designed to align executive performance with the long-term interests of our shareholders.

Performance shares are first given out as provisional grants and only released as shares to executives after they meet pre-determined performance conditions over a two or three-year period, depending on the different share plans. Management is also required to hold a prescribed level of shares as determined by the board over the longer term.