Qantas 2013 Annual Report Download - page 76
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74
Directors’ Report continued
FOR THE YEAR ENDED 30 JUNE 2013
DIRECTORS’ INTERESTS AND BENEFITS
Particulars of Directors’ interests in the issued capital of Qantas at the date of this Report are as follows:
Shares
Directors 2013
Number
2012
Number
Leigh Clifford 251,622 251,622
Alan Joyce 2,906,202 2,531,188
Maxine Brenner ––
Peter Cosgrove12,314 2,314
Patricia Cross 35,474 30,474
Richard Goodmanson 20,000 20,000
Jacqueline Hey ––
Garry Hounsell 80,000 80,000
William Meaney ––
Paul Rayner 71,622 71,622
Barbara Ward 47,597 47,597
1 Refer below for details of shares held by General Cosgrove under the Non-Executive Director Share Plan.
In addition to the interests shown, indirect interests in Qantas shares held in trust on behalf of General Cosgrove and Mr Joyce are
as follows:
Peter Cosgrove
Deferred shares held in trust under:
Non-Executive Director Share Plan1 32,251 32,251
1 General Cosgrove acquired these shares by salary sacricing part of his Director’s fee.
Alan Joyce
Deferred shares held in trust under:
2010/11 Short Term Incentive Plan –1 375,014
2012/13 Short Term Incentive Plan 284,769 –
284,769 375,014
Rights granted under:
2011–2013 Long Term Incentive Plan –21,084,000
2012–2014 Long Term Incentive Plan 1,675,00031,675,000
2013–2015 Long Term Incentive Plan 2,575,0004–
4,250,000 2,759,000
1 The deferred shares were released from holding lock and transferred to Mr Joyce on 30 August 2013.
2 As a result of performance hurdle testing conducted as at 30 June 2013, all unvested Rights lapsed subsequent to 30 June 2013.
3 Shareholders approved the award of these Rights on 28 October 2011. Performance hurdles will be tested as at 30 June 2014 to determine whether any Rights vest to Mr Joyce.
4 Shareholders approved the award of these Rights on 2 November 2012. Performance hurdles will be tested as at 30 June 2015 to determine whether any Rights vest to Mr Joyce.
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 87 to 88 for further details.
The following table outlines the movements in Rights during the year:
Performance Rights Reconciliation
Rights outstanding as at 1 July 18,631,168 12,213,069
Rights granted 15,969,000 10,127,000
Rights forfeited (2,066,000) (1,110,560)
Rights lapsed (4,343,801) (2,481,256)
Rights exercised (16,320) (117,085)
Rights outstanding as at 30 June 28,174,047118,631,168
1 The movement of Rights outstanding as at 30 June 2012 to the date of this Report is explained in the footnotes on page 75.