Management & Governance
Ranking in the remaining ten company comparator group
| 1st | 2nd | 3rd | 4th | 5th | 6th-10th | |
|---|---|---|---|---|---|---|
| Percentage vesting | 150 | 121.3 | 92.5 | 63.8 | 35 | 0 |
The historical ranking of Rio Tinto in relation to the relevant comparator group is shown in the following table:
| Period | Ranking |
|---|---|
| 1993 - 97 | 4 out of 16 |
| 1994 - 98 | 4 out of 16 |
| 1995 - 99 | 2 out of 16 |
| 1996 - 00 | 2 out of 16 |
| 1997 - 01 | 2 out of 16 |
| 1998 - 02 | 3 out of 16 |
| 1999 - 03 | 7 out of 16 |
| 2000 - 04 | 11 out of 16 |
| 2001 - 05 | 10 out of 16 |
| 2002 - 06 | 10 out of 16 |
| 2003 - 07 | 5 out of 10 |
| Note | Expand |
The revised comparator companies for the 2004 conditional award are: Alcoa, Anglo American, Barrick Gold, BHP Billiton, Freeport-McMoRan Copper & Gold, Grupo Mexico, Newmont, Rio Tinto, Teck Cominco and Xstrata. Of the original comparator group WMC Resources, Placer Dome, Falconbridge, Inco, Phelps Dodge and Alcan have all been subject to take-over during the performance period.
Comparator companies for the 2007 conditional award at time of grant were: Alcan, Alcoa, Anglo American, Barrick Gold, BHP Billiton, Cameco Corporation, Cia Vale do Rio Doce (now Vale), Freeport-McMoRan Copper & Gold, Grupo Mexico, Impala, Newmont, Peabody, Potash Corp, Teck Cominco and Xstrata. |
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Prior to the vesting of conditional awards, the Group's TSR performance against the performance condition contained in the MCCP is calculated independently by Watson Wyatt.
Awards are released to participants as either Rio Tinto plc or Rio Tinto Limited shares or as an equivalent amount in cash. In addition, for conditional awards made after 1 January 2004, a cash payment equivalent to the dividends that would have accrued on the vested number of shares over the four year period is made to those participants who were in executive director and product group chief executive roles at the date of grant.
Awards may, upon vesting, be satisfied by treasury shares, the issue of new shares or the purchase of shares in the market. Currently it is Rio Tinto plc's intention to satisfy exercises by transferring shares from treasury and Rio Tinto Limited's intention to satisfy exercises by way of the transfer of existing shares.
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