Qantas 2012 Annual Report Download - page 120
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FOR THE YEAR ENDED 30 JUNE 2012
Notes to the Financial Statements continued
C EQUITY INSTRUMENTS HELD BY KEY MANAGEMENT PERSONNEL
Set out in the following tables are the holdings of equity instruments granted as remuneration to the KMP by Qantas. Non-Executive
Directors do not receive any remuneration in the form of share-based payments, although they may salary sacrifice a portion of their
Directors’ fees to purchase shares.
(i) Short Term Incentive Plan (STIP)
Key Management Personnel
Opening
Balance
Number
Granted
Number
Forfeited
Number Vested
and Transferred
Closing
Balance
Alan Joyce Total ,, , – (,) ,
Total – ,, – – ,,
Bruce Buchanan Total , , – (,) ,
Total – , – – ,
Gareth Evans Total , , – (,) ,
Total – , – – ,
Rob Gurney Total , , – (,) ,
Total – , – – ,
Simon Hickey Total , , – (,) ,
Total – , – – ,
Jayne Hrdlicka Total – , – – ,
Total – – – – –
Lyell Strambi Total , , – (,) ,
Total – , – – ,
The shares were granted on 31 August 2011 (2011: 12 August 2010) at a fair value of $1.58 (2011: $2.56). No amount has been paid,
or is payable, by the Executive in relation to these deferred shares.
(ii) Long Term Incentive Plan (LTIP)
Key Management Personnel
Opening
Balance
Number
Granted
Number
Lapsed/
Forfeited
Number Vested
and Transferred
Closing
Balance
Alan Joyce Total ,, ,, (,) (,) ,,
Total , ,, (,) – ,,
Bruce Buchanan Total , , (,) – ,
Total , , – – ,
Gareth Evans Total , , (,) – ,
Total , , (,) – ,
Rob Gurney Total , , (,) (,) ,
Total , , (,) – ,
Simon Hickey Total , , (,) – ,
Total , , (,) – ,
Jayne Hrdlicka Total – , – – ,
Total – – – – –
Lyell Strambi Total , , (,) – ,
Total , , – – ,
During the year 3,815,000 Rights were granted, of which 2,140,000 Rights were granted on 23 August 2011 and 1,675,000 Rights were
granted on 28 October 2011 (2011: 550,000 Rights were granted on 12 August 2010 and 1,084,000 Rights were granted on 29 October 2010).
The fair value of Rights granted is calculated at the date of grant using a Monte Carlo model to value the Rights with the TSR performance
condition and a Black Scholes model to value the Rights with the EPS performance condition. The fair value of Rights granted on
23 August 2011 and 28 October 2011 were $0.86 and $0.815, respectively (2011: $1.50 and $1.76 for Rights granted on 12 August 2010
and 29 October 2010, respectively). No amount has been paid, or is payable, by the Executive in relation to these Rights.
31. Related Parties continued
QANTAS ANNUAL REPORT 2012118