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27
QANTAS ANNUAL REPORT 2015
to participate in any share issue of Qantas. No dividends are payable on Rights. The fair value of Rights granted is calculated at the
date of grant using a Monte Carlo model and/or Black Scholes model.
The following Rights were outstanding at 30 June 2015:
Number of Rights
Name
Testing
Period
Grant
Date
Value at
Grant Date
2015
Net Vested
2015
Unvested
2015
Total
2014
Net Vested
2014
Unvested
2014
Total
2004/05
Performance
Rights Plan
30 Jun 07
– 30 Jun 091
13 Jan 05 $2.47
–––14,860 –14,860
2005
Performance
Rights Plan
30 Jun 08
– 30 Jun 101
22 Nov 05 $2.67
38,517 –38,517 44,682 –44,682
2006
Performance
Rights Plan
30 Jun 09
– 30 Jun 111
4 Oct 06 $2.95
119,071 –119,071 156,890 –156,890
2012–2014
Long Term
Incentive Plan
30 Jun 14223 Aug 11 $0.86
––––5,208,000 5,208,000
2012–2014
Long Term
Incentive Plan
30 Jun 14228 Oct 11 $0.82
––––1,806,000 1,806,000
2013–2015
Long Term
Incentive Plan
30 Jun 1532 Nov 12 $0.88
–11,272,000 11,272,000 –13,448,000 13,448,000
2013–2015
Long Term
Incentive Plan
30 Jun 15313 Jun 13 $0.70
–329,000 329,000 –329,000 329,000
2014–2016
Long Term
Incentive Plan
30 Jun 16 18 Oct 13 $0.83
–10,463,000 10,463,000 –12,572,000 12,572,000
2015–2017
Long Term
Incentive Plan
30 Jun 17 15 Sep 14 $0.97
–50,925,000 50,925,000 –––
2015–2017
Long Term
Incentive Plan
30 Jun 17 24 Oct 14 $0.972
–4,582,500 4,582,500 –––
2015–2017
Long Term
Incentive Plan
31 Aug 17 3 May 15 $3.05
–2,580,500 2,580,500 –––
Total 157,5 88 80,152,000 80,309,588 216,432 33,363,000 33,579,432
1 These Rights convert to Qantas shares on the 10th anniversary of the date of award, however Executives may call for the Rights to be converted sooner at their request.
2 All unvested Rights lapsed following the performance hurdle testing as at 30 June 2014.
3 85 per cent of Rights vested subsequent to 30 June 2015 and before the issuance of this report following the performance hurdle testing conducted as at 30 June 2015.