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49
QANTAS ANNUAL REPORT 2014
4) REMUNERATION OUTCOMES FOR THE YEAR ENDED 30 JUNE 2014
The remuneration decisions and outcomes at Qantas are clearly linked to Qantas’ performance via the STIP and LTIP
performancemeasures.
The Underlying PBT result for 2013/2014 was below the target level set by the Board for the 2013/2014 year. Whilst there was strong
performance against some of the other measures under the STIP scorecard, the Board determined that the level of Group financial
performance did not warrant any award under the 2013/14 STIP. Therefore, the remuneration outcome for 2013/14 STIP was nil. The
STIP is detailed on pages 51 to 55.
LTIP awards did not vest during 2013/2014. The 2012–2014 LTIP was tested as at 30 June 2014. As performance hurdles were not
achieved, all Rights under this plan lapsed and Executives did not receive any shares or payment under this plan. Therefore, the
remuneration outcome for 2013/2014 under the LTIP was nil. The LTIP is detailed on pages 55 to 56.
The following table summarises the remuneration decisions and outcomes for the CEO and Executive KMP for the year ended
30June2014. The remuneration detailed in this table is aligned to the current performance periods and therefore is particularly
useful in assessing current year pay and its alignment with current year performance.
Remuneration Outcomes Table – CEO and Executive KMP1
STIP Outcomes3LTIP Outcomes4
$’000s
Base Pay
(Cash)2Cash Bonus
Deferred
Award Rights Vested Sub-total
Other
Benefits5Total
Alan Joyce 2014 2,054 – – – 2,054 (45) 2,009
Chief Executive Officer 2013 2,109 775 388 – 3,272 59 3,331
Gareth Evans 2014 981 – – – 981 69 1,050
Chief Financial Officer 2013 981 233 117 – 1,331 96 1,427
Lesley Grant 2014 782 – – – 782 16 798
CEO Group Loyalty 2013 785 178 89 – 1,052 51 1,103
Simon Hickey 2014 982 – – – 982 (34) 948
CEO Qantas International 2013 984 213 106 – 1,303 168 1,471
Jayne Hrdlicka 2014 982 – – – 982 61 1,043
CEO Jetstar 2013 984 213 106 – 1,303 63 1,366
Lyell Strambi 2014 982 – – – 982 95 1,077
CEO Qantas Domestic 2013 984 223 111 – 1,318 112 1,430
Total 2014 6,763 – – – 6,763 162 6,925
2013 6,827 1,835 917 – 9,579 549 10,128
1 Detail of non-statutory remuneration methodology is explained on page 61.
2 Base Pay (cash) paid to each Executive during the year.
3 The full value of STIP awards made to each Executive during each of the 2013/2014 and 2012/2013 financial years.
4 LTIP awards did not vest in either 2013/2014 or 2012/2013, therefore nil value shown.
5 Other Benefits are detailed on page 50.
Refer to section 6 of the Remuneration Report on pages 50 to 58 for detail of the Executive Remuneration Structure, a description
ofBase Pay, STIP and LTIP and analysis of the 2013/2014 outcomes for the STIP and LTIP.
5) STATUTORY REMUNERATION DISCLOSURES FOR THE YEAR ENDED 30 JUNE 2014
The statutory remuneration disclosures for the year ended 30 June 2014 are detailed below and are prepared in accordance with
Australian Accounting Standards (AASBs) and differ significantly from the 2013/2014 remuneration decisions and outcomes
outlined above.