Qantas 2008 Annual Report Download - page 118

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116 Qantas Annual Report 2008
Notes to the Financial Statements
for the year ended 30 June 2008
Performance Share Plan
2008 2007
Shares granted Number of
Shares
Weighted Average
Fair Value
$
Number of
Shares
Weighted Average
Fair Value
$
Performance shares granted – 20 August 2007 1,498,448 5.29 ––
Performance shares granted – 15 August 2007 564,000 5.45 ––
Performance shares granted – 22 August 2006 ––2,984,116 3.30
Shares are valued based on the volume weighted average price of Qantas shares as traded on the ASX for the seven calendar days up to and including
the date of allocation. Expected dividends are not taken into account when calculating the fair value. For further detail on the operation of the PSP,
see page 64.
Retention Plan
Shares granted
Retention shares granted – 14 November 2007 1,400,000 5.82 ––
Retention shares granted – 15 August 2007 3,000,000 5.45 ––
Retention shares granted – 6 December 2006 ––200,000 5.07
Retention shares granted – 19 October 2006 ––400,000 4.05
Retention shares granted – 16 August 2006 ––2,400,000 3.09
Shares are valued based on the volume weighted average price of Qantas shares as traded on the ASX for the seven calendar days up to and including
the date of allocation. Expected dividends are not taken into account when calculating the fair value. For further detail on the operation of the RP,
see page 65.
Qantas Profitshare Scheme (QPS)
In August 2007, the Board approved an award of shares to eligible employees under the QPS. Shares were transferred into the name of the
employee and are subject to a three year trading restriction. Under the Terms & Conditions of the QPS, this trading restriction will be lifted in certain
limited circumstances.
Shares granted
QPS shares granted – 20 August 2007 5,370,435 5.29 ––
Shares are valued based on the volume weighted average price of Qantas shares as traded on the ASX for the seven calendar days up to and including
the date of allocation. Expected dividends are not taken into account when calculating the fair value.
Qantas Long-Term Executive Incentive Plan
Entitlements under the QLTEIP were granted before 7 November 2002. The recognition and measurement principles in AASB 2 Share-based Payment
have not been applied to these Entitlements in accordance with the transitional provisions in AASB 1 First-time Adoption of Australian Equivalents
to International Financial Reporting Standards.
There are no Entitlements outstanding at 30 June 2008.
24. Share-based Payments continued
For personal use only