Qantas 2011 Annual Report Download - page 36
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THE QANTAS GROUP 34
for the year ended 30 June 2011
Directors’ Report continued
RIGHTS
Performance Rights are awarded to select Qantas Group Executives under the Qantas Deferred Share Plan (DSP) and the Qantas Employee
Share Plan (ESP). Refer to pages to for further details.
The following table outlines the movements in Rights during the year:
Performance Rights Reconciliation
Number
Number
Rights outstanding as at July ,, ,,
Rights granted ,, ,,
Rights forfeited (,,) (,)
Rights lapsed (,) (,)
Rights exercised (,) (,)
Rights outstanding as at June ,, ,,
Rights will be converted to Qantas shares to the extent performance hurdles have been achieved. The Rights do not allow the holder to
participate in any share issue of Qantas. No dividends are payable on Rights. The fair value of Rights granted is calculated at the date
of grant using a Monte Carlo model and/or Black Scholes model.
The following Rights were outstanding at June :
Number of Rights
Name Testing Period Grant Date
Value at
Grant Date
Net Vested
Unvested
Total
Net Vested
Unvested
Total
Performance
Rights Plan
Jun
– Jun Jan $. , –, , –,
Performance
Rights Plan
Jun
– Jun Aug $. , –, , , ,
Performance
Rights Plan
Jun
– Jun Nov $. , –, , , ,
Performance
Rights Plan
Jun
– Jun Mar $. – – – – , ,
Performance
Rights Plan
Jun
– Jun Aug $. , , , , , ,
Performance
Rights Plan
Jun
– Jun Oct $. , , , , , ,
Performance
Rights Plan
Jun
– Jun Oct $. –, , , , ,
Performance
Rights Plan
Jun
– Jun Dec $. –, , –, ,
Performance
Rights Plan
Jun
– Jun Mar $. –,, ,, –,, ,,
Performance
Rights Plan Jun May $. –,, ,, –,, ,,
- Long
Term Incentive Plan Jun Sep $. –,, ,, –,, ,,
- Long
Term Incentive Plan Jun Aug $. –,, ,, – – –
- Long
Term Incentive Plan Jun Oct $. –,, ,, – – –
, ,, ,, , ,, ,,
. These Rights convert to Qantas shares on the th anniversary of the date of award, however Executives may call for the Rights to be converted sooner at their request.
. While these Rights may convert to Qantas shares on the th 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, which commenced June . As a result of performance hurdle testing conducted subsequent to June , all unvested Rights have lapsed
in /.
. While these Rights may convert to Qantas shares on the th 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, which commenced June .
. While these Rights may convert to Qantas shares on the th 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. Testing was done as at June . As a result of performance hurdle testing conducted subsequent to June , all unvested Rights have
lapsed in /.
. These Rights may convert to Qantas shares to the extent performance hurdles have been achieved upon testing. Testing will be done as at July .
. These Rights may convert to Qantas shares to the extent performance hurdles have been achieved upon testing. Testing will be done as at June .