Changes in each Executive’s holding of EPR during the financial year are set out below. The EPR granted during the year ended 30
June 2015 were in relation to the LTI plan. Refer to the share based remuneration note of the Financial Statements for further EPR
Plan details.
TABLE 11 - MOVEMENT IN POTENTIAL VALUE OF EPR FOR THE YEAR ENDED 30 JUNE 2015
EPR
ON ISSUE
1 JULY
EPR
GRANTED
DURING
THE YEAR
(a)
EPR
EXERCISED
DURING
THE YEAR
(b)
EPR
LAPSED
DURING
THE YEAR
(c)
EPR
ON ISSUE
30 JUNE
EPR
VESTED
DURING
THE YEAR
EPR
VESTED
AND EX-
ERCISABLE
30 JUNE
EPR
FORFEITED
AND WILL
LAPSE IN
FUTURE
YEARS
2015
EXECUTIVES
Michael Wilkins Number
2,739,000 544,300 (885,500) (395,300) 2,002,500 885,500
-
-
$000
2,339
5,388 2,444
-
Duncan Brain Number
376,050 197,800 (68,900)
(30,750)
474,200 68,900
-
-
$000
850
419
190
-
Andy Cornish Number
1,128,950 226,000 (367,700) (155,850)
831,400 367,700
-
-
$000
971
2,237
964
-
Peter Harmer
Number
927,500 217,300 (345,600)
-
799,200 345,600
-
-
$000
934
2,103
-
-
Alex Harrison
(d)
Number
172,000 182,000 (63,700)
-
290,300 63,700
-
-
$000
782
388
-
-
Nicholas Hawkins Number
1,086,300 217,300 (353,000) (151,400)
799,200 353,000
-
-
$000
934
2,148
936
-
Jacki Johnson Number
1,212,883 227,100 (536,333) (146,950)
756,700 312,900
-
-
$000
976
3,263
909
-
Leona Murphy Number
966,650 195,600 (318,100) (124,650)
719,500 318,100
-
-
$000
841
1,935
771
-
Clayton Whipp
(d)
Number
183,300 77,100 (58,900)
(22,600)
178,900 58,900
-
-
$000
331
358
140
-
EXECUTIVES WHO CEASED AS KEY MANAGEMENT PERSONNEL
Justin Breheny Number
1,007,250 199,900 (325,000) (146,950)
735,200 325,000
-
-
$000
859
1,977
909
-
(a)
All EPR were granted on 3 November 2014 and have an expiry date of 3 November 2021. EPR granted during the year and subject to the TSR performance hurdle have
a grant date value of $3.02, calculated using the Monte Carlo simulation. All rights granted during the year, and subject to the TSR performance hurdle, are first
exercisable on 30 September 2018. EPR granted during the year and subject to the ROE performance hurdle have a grant date value of $5.58, calculated using the
Black-Scholes valuation model. All rights granted during the year, and subject to the ROE performance hurdle, are first exercisable after the performance period
concludes on 30 June 2017. The total value of EPR granted is included in the table above. This amount is allocated to remuneration over the vesting period (i.e. in
years ending 30 June 2015 to 30 June 2019).
(b)
EPR that vested on 30 September 2014 or before and were exercised in the financial year. The value of EPR exercised is based on the weighted average share price
which was $6.08 for the year ended 30 June 2015.
(c)
The value of EPR lapsed during the year ended 30 June 2015 is based on the five day weighted average share price which was $6.18 to 30 September 2014.
(d)
Opening number of EPR on issue represents the balance as at the date of appointment of 1 July 2014.
30 IAG ANNUAL REPORT 2015
