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45
QANTAS ANNUAL REPORT 2015
(vi) Equity Holdings and Transactions
KMPs or their related parties directly, indirectly or beneficially held shares in the Qantas Group as detailed in the table below:
Key Management
Personnel – Executives
Interest in
Shares as at
1 July 2014
Commenced
as KMP
Awarded as
Remuneration
Rights Converted
to Shares
Other
Change1
Ceased
Employment
Interest in
Shares as at
30 June 2015
Alan Joyce 3,190,971 –––––3,190,971
Tino La Spina
commenced as KMP
1 March 2015
n/a 30,992 – – – – 30,992
Andrew David
commenced as KMP
1 March 2015
n/a 588,482 – – – – 588,482
Gareth Evans 502,749 –––(300,000) –202,749
Lesley Grant 316,183 –––(100,000) –216,183
Jayne Hrdlicka 196,948 –––––196,948
Simon Hickey2
ceased as KMP
28 February 2015
376,398 – – 33,545 –409,943 n/a
Lyell Strambi3
ceased as KMP
28 February 2015
216,862 –––(134,773) 82,089 n/a
1 Other change includes shares purchased, sold or forfeited.
2 Mr Hickey ceased as a KMP on 28 February 2015 and ceased employment with Qantas on 15 May 2015. The total equity holding for Mr Hickey as at 28 February 2015 was 409,943.
3 Mr Strambi ceased as a KMP and ceased employment with Qantas on 28 February 2015.
Other than share-based payment compensation, all equity instrument transactions between the KMP, including their related parties,
and Qantas during the year have been on an arm’s length basis.
Loans and Other Transactions with Key Management Personnel
No KMP or their related parties held any loans from the Qantas Group during or at the end of the year ended 30 June 2015 or prior year.
A number of KMPs and their related parties have transactions with the Qantas Group. All transactions are conducted on normal
commercial arm’s length terms.
8) NON-EXECUTIVE DIRECTOR FEES
Non-Executive Director fees are determined within an aggregate Non-Executive Directors’ fee pool limit. An annual total fee pool of
$2.75 million (excluding industry standard travel entitlements received) was approved by shareholders at the 2013 AGM.
Total Non-Executive Directors’ remuneration (excluding industry standard travel entitlements received) for the year ended
30June2015 was $1.99 million (2014: $2.14 million), which is within the approved annual fee pool.
Non-Executive Directors’ remuneration reflects the responsibilities of Non-Executive Directors. Fees are benchmarked against
Non-Executive Director fees of S&P/ASX50 companies.
The Board base fee and Committee base fee are presented in the table below. From 1 January 2014 until 30 June 2015, all Directors
elected to forgo five per cent of both their base fee and Committee fee.
Board Committees1
Chairman2Member Chairman Member
Board Fees3$560,000 $144,000 $58,000 $29,000
1 Committees are the Audit Committee, Remuneration Committee, Nominations Committee and Safety, Health, Environment and Security Committee.
2 The Chairman does not receive any additional fees for serving on or chairing any Board Committee.
3 From 1 January 2014, all Directors elected to forgo five per cent of their fees. From 1 January 2014 until 30 June 2015, the Chairman was paid based on an annual fee of $532,000, other
Non-Executive Directors were paid based on an annual fee of $137,000, each Committee Chair was paid based on an annual fee of $55,000 and each Committee member was paid based
on an annual fee of $27,500.
Non-Executive Directors do not receive any performance-related remuneration.
Overseas-based Non-Executive Directors are paid a travel allowance when travelling on international journeys of greater than six
hours to attend Board and Committee Meetings or Board-related activities requiring participation of all Directors.
All Non-Executive Directors and eligible beneficiaries receive travel entitlements. The Chairman is entitled to four long haul trips
and 12 short haul trips each calendar year and all other Non-Executive Directors are entitled to two long haul trips and six short haul
trips each calendar year. These flights are not cumulative and will lapse if they are not used during the calendar year in which the
entitlement arises.
Post-employment, the Chairman is entitled to two long haul trips and six short haul trips for each year of service and all other Non-
Executive Directors are entitled to one long haul trip and three short haul trips for each year of service. The accounting value of the
travel benefit is captured in the remuneration table (as a non-cash benefit for travel during the year and as a post-employment benefit).