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81 Qantas Annual Report 2009
Directors’ Report
for the year ended 30 June 2009
Remuneration Report (Audited) continued
Retention Plan
Grant Date 15 Aug 071 16 Aug 062
Year Scheduled to Vest 2009 2009 2010 2010 2010 2010
Vested Forfeited Vested Forfeited Vested Forfeited
Alan Joyce 100% 0% – – – –
Colin Storrie 100% 0% – – – –
Bruce Buchanan n/a n/a n/a n/a n/a n/a
Rob Gurney n/a n/a n/a n/a n/a n/a
Simon Hickey 100% 0% – – – –
Lyell Strambi n/a n/a n/a n/a n/a n/a
Geoff Dixon 100% 0% 100% 0% n/a n/a
Peter Gregg 100% 0% 100% 0% 100% 0%
John Borghetti 100% 0% 100% 0% 100% 0%
Kevin Brown 100% 0% 100% 0% 100% 0%
David Cox 100% 0% 100% 0% 100% 0%
Grant Fenn 100% 0% 17% 83% 83% 17%
1. The grant date for the award to Mr Dixon and Mr Gregg was 14 November 2007.
2. The grant date for the award to Mr Gregg was 19 October 2006 (scheduled to vest 2009).
Long Term Incentive Plan
Grant Date 4 May 09 12 Dec 071 22 Aug 062
Year Scheduled to Vest 2011 2011 2010 2010 2009 2009
Vested Forfeited Vested Forfeited Vested3 Forfeited
Alan Joyce – – – – – –
Colin Storrie – – – – – –
Bruce Buchanan – – – – – –
Rob Gurney – – – – – –
Simon Hickey – – – – – –
Lyell Strambi – – n/a n/a n/a n/a
Geoff Dixon n/a n/a 0% 42% 0% 8%
Peter Gregg n/a n/a 0% 100% 0% 100%
John Borghetti n/a n/a 0% 100% 0% 100%
Kevin Brown n/a n/a 0% 100% 0% 100%
David Cox 0% 100% 0% 100% – –
Grant Fenn 0% 100% 0% 100% – –
1. The grant date for the award to Mr Buchanan and Mr Gurney was 31 March 20 08.
2. The grant date for the award to Mr Dixon and Mr Gregg was 19 October 2006. The grant date for the award to Mr Storrie, Mr Gurney and Mr Hickey was 4 October 2006.
3. While these Rights may convert to Qantas shares on the 10th anniversary of the date of award, Executives may call for the Rights to be converted to the extent performance hurdles have been
achieved upon testing. Based on the performance hurdle tested as at 30 June 2009, 82.7% of the Rights will vest in August 2009.
QANTAS CODE OF CONDUCT & ETHICS – EMPLOYEE SHARE TRADING POLICY, MARGIN LOANS AND HEDGING
The DSP Terms & Conditions (which govern awards under the PSP, LTIP and RP) specifically prevent the granting of any security interest over, disposing of,
or otherwise dealing with any unvested, unconverted or deferred equity entitlements. Once equity entitlements vest and convert to unrestricted
shareholdings in the name of each participant under the relevant equity plan, participants are free to deal with their shareholdings subject to the Qantas
Code of Conduct & Ethics and Employee Share Trading Policy.
In April 2008, the Board amended the Qantas Code of Conduct & Ethics to prohibit certain Nominated Qantas Employees from entering into any hedging
or margin lending arrangement or otherwise granting a charge over the securities of any Qantas Group Listed Entity, where control of any sale process
relating to those securities may be lost.