Shaw 2013 Annual Report Download - page 102

S
haw
C
ommunications Inc
.
N
O
TE
S
T
OCO
N
SO
LIDATED FINAN
C
IAL
S
TATEMENT
S
August 31, 2013 and 201
2
[all amounts in millions of Canadian dollars exce
p
t share and
p
er share amounts
]
payment date as determined by the Company. When cash dividends are paid on Class B Non
-
V
otin
g
Shares, holders are credited with RSUs e
q
ual to the dividend. RSUs do not have votin
g
r
ig
hts as there are no shares underl
yi
n
g
the
p
lan
.
The RSUs
g
ranted durin
g
2011 vested durin
g
2013 and the Com
p
an
yp
aid $6 to settle th
e
o
bligation. During 2013,
$
3 was recorded as compensation expense (2012 –
$
2) and a
t
Au
g
ust 31, 2013, the carr
y
in
g
value of the liabilit
y
was $nil (2012 – $3)
.
Deferred share unit
p
lan
The Company has a DSU plan for its Board of Directors whereby directors can elect to receiv
e
t
heir annual cash com
p
ensation, or a
p
ortion thereof, in DSUs. In addition, the Com
p
an
y
ma
y
ad
j
ust and
/
or su
pp
lement d
i
rectors’ com
p
ensat
i
on w
i
th
p
er
i
od
i
c
g
rants o
f
D
S
Us. A D
S
U
i
s
a
right that tracks the value of one Class B Non-Voting Share. Holders will be entitled to a cas
h
p
a
y
out when the
y
cease to be a director. The cash
p
a
y
out will be based on market value of
a
C
lass B Non-Vot
i
n
gS
hare at the t
i
me o
fp
a
y
out. When cash d
i
v
i
dends are
p
a
i
don
C
lass B Non
-
V
oting Shares, holders are credited with DSUs equal to the dividend. DSUs do not have voting
ri
g
hts as there are no shares underl
y
in
g
the
p
lan
.
D
urin
g
2013,
$
4 was reco
g
nized as com
p
ensation ex
p
ense (2012 –
$
1). The carr
y
in
g
value an
d
intrinsic value of DSUs at Au
g
ust 31, 2013 was $10 and $8, res
p
ectivel
y
(Au
g
ust 31, 2012
–$
6 and
$
5, respectively).
E
mp
l
oyee s
h
are purc
h
ase p
l
an
The
C
om
p
an
y
’s E
S
PP
p
rov
i
des em
p
lo
y
ees w
i
th an
i
ncent
i
ve to
i
ncrease the
p
ro
fi
tab
i
l
i
t
y
o
f
the
Company and a means to participate in that increased profitability. Generally, all non-unionize
d
f
ull time or
p
art time em
p
lo
y
ees of the Com
p
an
y
are eli
g
ible to enroll in the ESPP. Under th
e
ES
PP, el
igi
ble em
p
lo
y
ees ma
y
contr
i
bute to a max
i
mum o
f
5
%
o
f
the
i
r monthl
y
base
compensation. The Company contributes an amount equal to 25% of the employee’
s
contributions.
D
urin
g
2013,
$
5 was recorded as com
p
ensation ex
p
ense (2012 –
$
5)
.
98