Telstra 2011 Annual Report Download - page 93
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78
Telstra Corporation Limited and controlled entities
Remuneration Report
(8) As required under AASB 2, accounting expense that was previously recognised as remuneration has been reversed in fiscal 2011 and fiscal 2010. For fiscal 2011, this has occurred for the fiscal 2008 and
fiscal 2009 LTI plans that failed to satisfy non-market (ie non-TSR and non-RTSR) performance targets, resulting in equity instruments lapsing. For market based hurdles (ie TSR and RTSR) an accounting
value is recorded above, however the relevant KMP received no value from those equity instruments that lapsed.
(9) Gordon Ballantyne does not have any equity settled share-based payments as part of his remuneration.
(10) Nerida Caesar qualifies as a KMP for the period 1 July 2010 up to the date of her cessation on 21 January 2011. As a result, the table above only includes remuneration during her period of service as a KMP.
(11) Paul Geason qualifies as a KMP for the period 1 July 2010 to 21 January 2011 in his capacity as GMD Telstra Wholesale and for the period 22 January 2011 to 30 June 2011 in his capacity as GMD Telstra
Enterprise and Government.
(12) Brendon Riley qualifies as a KMP for the period 28 February 2011, when he was appointed as Chief Operations Officer, to 30 June 2011. As a result, he does not have equity settled share-based payments
as part of his remuneration. The table above only includes remuneration during his period of service as a KMP.
(13) Michael Rocca qualifies as a KMP for the period 1 July 2010 to 27 February 2011 during which time he was Chief Operations Officer, however his remuneration disclosed in the above table is up to 29 June
2011 as he falls within the five highest paid Company and Group executives for fiscal 2011. Mr Rocca’s Termination Payment is based on his contract of employment dated 14 August 2002 which pre-dates
the termination benefits provisions of the Corporations Act which became effective 24 November 2009 and Mr Rocca’s contract of employment has not been extended, renewed or varied since that date. Mr
Rocca’s termination payments are comprised of $65,056 payment in lieu of notice, a termination payment equivalent to 12 months fixed remuneration of $1,249,763 and a pro-rata payment based on the
target STI opportunity.