Telstra 2011 Annual Report Download - page 209

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Telstra Corporation Limited and controlled entities
194
Notes to the Financial Statements (continued)
(b) Long term incentive (LTI) plans (continued)
(iv) Summary of movements and other information
(continued)
(*) Options include RTSR, TSR, ROI, ESOP and US ESOP options.
The options “exercised” includes those participants that have been
made redundant and are then consequently entitled to the Telstra
shares.
(^) Performance rights include TSR, RG, NT and ESRP performance
rights.
(#) Restricted shares relate to RTSR, FCFROI and ROI restricted
shares.
(**) 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.
(^^) The weighted average share price for instruments exercised
during fiscal 2010 was $3.36 for fiscal 2008 and fiscal 2009 ESOP
allocation of options, and $3.38 for fiscal 2005, fiscal 2006 and
fiscal 2010 allocation of performance rights respectively. These
share prices were based on the closing market price on the exercise
dates.
(##) The weighted average share price for instruments exercised
during fiscal 2011 was $2.58 for fiscal 2008 and fiscal 2009 ESOP
allocation of options, and $2.76 for fiscal 2005 and fiscal 2010
allocation of performance rights respectively. These share prices
were based on the closing market price on the exercise dates.
27. Employee share plans (continued)
Options (*) Performance rights (^) Restricted Shares (#)
Number
Weighted
average fair
value (**) Number
Weighted
average fair
value (**) Number
Weighted
average fair
value (**)
Outstanding
as at 30 June 2009. . . . . 202,571,212 $0.63 3,712,421 $2.87 5,818,222 $2.83
Granted . . . . . . . . . . . - - 2,047,583 $2.88 14,826,456 $1.81
Forfeited . . . . . . . . . . (28,441,454) $0.64 (427,037) $2.47 (722,042) $2.80
Exercised (^^) . . . . . . . (638) $0.33 (231,263) $3.05 - -
Expired . . . . . . . . . . . (99,346,291) $0.76 (2,727,772) $2.25 (1,534,394) $2.83
Outstanding
as at 30 June 2010. . . . . 74,782,829 $0.45 2,373,932 $2.91 18,388,242 $2.01
Granted . . . . . . . . . . . - - 1,168,590 $2.37 14,295,364 $1.75
Forfeited . . . . . . . . . . (9,065,777) $0.39 (228,308) $2.86 (4,726,114) $1.95
Exercised (##) . . . . . . . (409) $0.35 (379,008) $3.16 - -
Expired . . . . . . . . . . . (17,910,447) $0.50 - - (1,253,641) $2.83
Outstanding
as at 30 June 2011. . . . . 47,806,196 $0.45 2,935,206 $2.69 26,703,851 $1.84
Exercisable
as at 30 June 2011. . . . . 24,103,635 $0.70 80,285 $3.18 - -