Qantas 2008 Annual Report Download - page 130

128 Qantas Annual Report 2008
Notes to the Financial Statements
for the year ended 30 June 2008
30. Related Parties continued
Performance Rights Plan
Details of Rights over Qantas shares to each KMP are set out below. For more information on the operation of the PRP, including a summary of the
performance criteria to be met prior to vesting, see page 65.
Key Management
Personnel Grant Date
Fair Value as at
Grant Date1
Balance as at
30 June 2007
Number of
Performance
Rights Granted
during the Year
Number of
Performance
Rights Forfeited
during the Year
Number of
Performance
Rights Vested
and Transferred
during the Year
Balance as at
30 June 2008
Geoff Dixon 12-Dec-07 $4.42 – 300,000 – – 300,000
19-Oct-06 $3.17 300,000 – – – 300,000
21-Oct-04 $2.28 450,000 – – (360,000) 90,0003
750,000 300,000 – (360,000) 690,000
Peter Gregg 12-Dec-07 $4.42 – 100,000 – – 100,000
19-Oct-06 $3.17 100,000 – – – 100,000
17-Aug-05 $1.98 90,000 – – – 90,0002
21-Oct-04 $2.28 90,000 – – (72,000) 18,0003
280,000 100,000 – (72,000) 308,000
John Borghetti 12-Dec-07 $4.42 – 100,000 – – 100,000
22-Aug-06 $2.39 100,000 – – – 100,000
17-Aug-05 $1.98 75,000 – – – 75,0002
18-Aug-04 $2.25 60,000 – – (48,000) 12,0003
235,000 100,000 – (48,000) 287,000
Kevin Brown 12-Dec-07 $4.42 – 53,000 – – 53,000
22-Aug-06 $2.39 55,000 – – – 55,000
17-Aug-05 $1.98 50,000 – – – 50,0002
18-Aug-04 $2.25 40,000 – – (32,000) 8,0003
145,000 53,000 – (32,000) 166,000
David Cox 12-Dec-07 $4.42 – 44,000 – – 44,000
22-Aug-06 $2.39 45,000 – – – 45,000
17-Aug-05 $1.98 40,000 – – – 40,0002
18-Aug-04 $2.25 45,000 – – (36,000) 9,0003
130,000 44,000 – (36,000) 138,000
Grant Fenn 12-Dec-07 $4.42 – 53,000 – – 53,000
22-Aug-06 $2.39 55,000 – – – 55,000
17-Aug-05 $1.98 50,000 – – – 50,0002
18-Aug-04 $2.25 45,000 – – (36,000) 9,0003
150,000 53,000 – (36,000) 167,000
Alan Joyce 12-Dec-07 $4.42 – 65,000 – – 65,000
22-Aug-06 $2.39 55,000 – – – 55,000
17-Aug-05 $1.98 50,000 – – – 50,0002
18-Aug-04 $2.25 35,000 – – (28,000) 7,0003
140,000 65,000 – (28,000) 177,000
The fair value of Rights granted is calculated at the date of grant using a Monte-Carlo Valuation Methodology and/or Black Scholes Methodology.
While these Rights may convert to Qantas shares on the tenth anniversary of the date of award, Executives may call for the Rights to be converted to the extent performance hurdles have been
achieved upon testing, which commenced 30 June 20 08 .
While these Rights may convert to Qantas shares on the tenth anniversary of the date of award, Executives may call for the Rights to be converted to the extent performance hurdles have been
achieved upon testing, which commenced 30 June 20 07.
All Rights were granted with a nil exercise price and subject to the achievement of the performance hurdle may be converted on a one-for-one basis
to Qantas shares. No amount has been paid, or is payable by, the Executive in relation to these Rights.
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2
3
For personal use only