Vodafone chief executive Sir Christopher Gent has been awarded the second half of his controversial bonus, a £1.5 million share package, it was disclosed today.

The group's annual report said Sir Christopher had achieved necessary performance targets for the award to be made.

Sir Christopher was granted the bonus, originally worth £10 million, following the company's takeover of Germany's Mannesmann two years ago and has already received half in cash.

The second half, made up of 1.6 million shares, was originally worth £5 million but, as Vodafone's share price has dropped significantly, the value of the bonus has fallen to about £1.5 million.

At the time the award was made the shares were at 312.5p.

Vodafone's annual report calculates the award on the value of shares at May 24, 113p, which works out at £1.8 million. Based on yesterday's share price of 90.5p, the award is just under £1.5 million.

Vodafone said the shares were awarded on the achievement of earnings growth targets in the two years to March 31.

A spokesman said: "The shares were put aside for two years. We are disclosing today the performance conditions have been met and shares will be released to Chris Gent and other directors."

Sir Christopher would not sell the shares for a year, he added.

In the year to March, Sir Christopher scooped a £2.4 million pay package, £1.2 million in salary and £1.2 million under an incentive scheme.

Vodafone's figures last month showed the group made a £13.5 billion loss during the year after nearly £20 billion of writedowns and other charges related to acquisitions.