Telstra 2009 Annual Report Download - page 227

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Telstra Corporation Limited and controlled entities
212
Notes to the Financial Statements (continued)
TESOP99 and TESOP97 (continued)
The Telstra ESOP Trustee continues to hold the loan shares where the
employee has ceased employment and elected not to repay the loan,
until the share price is sufficient to recover the loan amount and
associated costs. The Trustee will then sell the shares. As at 30 June
2009, there were 8,522,800 shares held for this purpose (2008:
8,067,200).
The following table provides information about our TESOP99 and
TESOP97 share plans:
(*) The fair value of these shares is based on the market value of Telstra
shares at balance date and exercise date.
The employee share loan balance as at 30 June 2009 is $87 million
(2008: $97 million). The weighted average loan still to be repaid for
TESOP97 is $0.40 per instrument (2008: $0.61), and for TESOP99 is $5.49
per instrument (2008: $5.70).
27. Employee share plans (continued)
TESOP97 TESOP99
Number
Weighted
average fair
value (*)
Total fair
value
$m Number
Weighted
average fair
value (*)
Total fair
value
$m
Equity instruments outstanding and exercisable as at
30 June 2007 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34,685,500 $4.59 159 14,187,600 $4.59 65
Exercised . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (5,916,250) $4.45 (26) (186,600) $4.46 (1)
Equity instruments outstanding and exercisable as at
30 June 2008 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28,769,250 $4.24 122 14,001,000 $4.24 59
Exercised . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (3,096,750) $3.77 (12) (102,000) $3.76 -
Equity instruments outstanding and exercisable as at
30 June 2009 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25,672,500 $3.39 87 13,899,000 $3.39 47