Qantas 2010 Annual Report Download - page 80

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THE QANTAS GROUP 78
for the year ended 30 June 2010
Notes to the Financial Statements continued
(B) PERFORMANCE SHARE PLAN (PSP)
The following awards were made under the PSP during the year ended 30 June 2010.
2010 2009
Shares Granted
Number of
Shares
Weighted
Average
Fair Value
$
Number of
Shares
Weighted
Average
Fair Value
$
Performance shares granted – 19 August 2009 6,108,538 2.65 – –
Performance shares granted – 6 April 2009 – – 147,977 1.82
Performance shares granted – 4 March 2009 – – 75,000 1.52
Performance shares granted – 1 October 2008 – – 2,826 3.22
Performance shares granted – 17 September 2008 – – 3,566 3.49
Performance shares granted – 20 August 2008 – – 7,661,838 3.45
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 speci cally taken into account when calculating the fair value but are implicit in the
weighted average price of Qantas shares. Shares are issued or purchased on-market and are held subject to a holding lock. For further detail on the
operation of the PSP, see page 42.
(C) RETENTION PLAN (RP)
There were no awards made under the RP during the year (2009: nil awards).
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 speci cally taken into account when calculating the fair value but are implicit in the
weighted average price of Qantas shares. Shares are issued or purchased on market and are held subject to a holding lock.
(D) QANTAS PROFITSHARE SCHEME (QPS)
There were no awards made under the QPS during the year (2009: 8,041,136 shares were granted on 20 August 2008 at a fair value of $3.45).
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 speci cally taken into account when calculating the fair value but are implicit in the
weighted average price of Qantas shares. Shares are transferred into the name of the employee and are subject to a three year trading restriction.
Under the Terms and Conditions of the QPS, this trading restriction will be lifted earlier in certain limited circumstances.
24. Share-based Payments continued