Telstra 2007 Annual Report Download - page 226

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Telstra Corporation Limited and controlled entities
223
Notes to the Financial Statements (continued)
(a) Telstra Growthshare Trust (continued)
(iii) Summary of movements and other information (continued)
(i) The incentive shares exercisable includes those executives that have been made redundant and are then consequently entitled to the incentive shares. The incentive shares outstanding
and exercisable excludes those shares relating to the fiscal 2007 short term incentive plan that will be issued on 17 August 2007.
(ii) Options include TSR, RG, NGN, ITT, ROI and ACC options. The options outstanding and exercisable excludes those options relat ing to the fiscal 2007 long term incentive plan that were
granted on 23 July 2007.
(iii) Performance rights include TSR, EPS, OEG, RG, NT, ITT and ROI performance right s.
(iv) The fair value of incentive shares granted during fiscal 2006 was calculat ed using a Black- Scholes pricing model.
(v) The fair value of these instruments is calculated using an option pricing model that takes into account various factors, including the exercise price and expected life of the instrument, the
current price of the underlying share and its expected volatility, expected dividends, the risk-free rate for the expected life of the instrument, and the expected average volatility of Telstra’s
peer group companies.
31. Employee share plans (continued)
Incentive shares (i) Options (ii) Restricted shares Deferred shares Performance rights (iii)
Number
Weight ed
average fair
value (iv) Number
Weight ed
average fair
value (v) Number
Weight ed
average fair
value (v) Number
Weight ed
average fair
value (v) Number
Weight ed
average fair
value (v)
Equity instruments outstanding
as at 30 June 2005 . . . . . . . - - 17,491,053 $1.20 540,600 $3.63 3,835,981 $4.34 14,119,880 $3.14
Granted . . . . . . . . . . . . . . 1,986,435 $4.77 - - - - - - 5,719,429 $2.97
Forfeited . . . . . . . . . . . . . . (53,467) $4.77 (888,153) $1.13 - - (136,511) $4.32 (901,662) $3.19
Exercised . . . . . . . . . . . . . (97,382) $4.77 (2,000) $1.13 - - (2,018,151) $4.38 (1,241,282) $2.86
Expired. . . . . . . . . . . . . . . - - (3,364,900) $1.49 (540,600) $3.63 - - (1,815,720) $2.99
Equity instruments outstanding
as at 30 June 2006 . . . . . . . 1,835,586 $4.77 13,236,000 $1.13 - - 1,681,319 $4.30 15,880,645 $3.12
Granted . . . . . . . . . . . . . . 122,344 $4.77 46,065,524 $0.85 - - - - - -
Forfeited . . . . . . . . . . . . . . - - (599,000) $1.13 - - (25,745) $4.29 (1,479,277) $3.05
Exercised . . . . . . . . . . . . . (423,455) $4.77 - - - - (1,266,986) $4.29 (21,800) $2.86
Expired. . . . . . . . . . . . . . . - - (2,720,397) $0.99 - - - - (1,463,273) $3.06
Equity instruments outstanding
as at 30 June 2007 . . . . . . . 1,534,475 $4.77 55,982,127 $0.91 - - 388,588 $4.31 12,916,295 $3.13
Equity instruments exercisable
as at 30 June 2007 . . . . . . . 138,964 $4.77 11,836,000 $1.13 - - 388,588 $4.31 - -