Telstra 2005 Annual Report Download - page 46

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Amortised value of LTI equity allocations (1) (2) Total
Options (3) (4) Performance rights (4) Restricted shares (3)
($) ($) ($) ($)
Zygmunt E Switkowski 772,731 1,191,643 80,939 2,045,313
Bruce Akhurst 345,383 354,173 33,038 732,594
Douglas Campbell 352,391 343,609 36,354 732,354
David Moffatt 380,380 390,643 30,160 801,183
Ted Pretty 387,991 396,424 4,802 789,217
Michael Rocca 141,424 248,585 11,470 401,479
Bill Scales 106,340 216,828 3,620 326,788
Deena Shiff 44,076 56,676 1,810 102,562
John Stanhope 134,511 218,175 12,652 365,338
David Thodey 241,368 319,079 – 560,447
(1) The value of each instrument is calculated by applying option valuation methodologies as described in note 19 to the financial statements contained in our ‘Annual Report 2005’ and
is then amortised over the relevant vesting period. The values included in the table relates to the current year amortised value of all instruments. The valuations used in current year
disclosures are based on the same underlying assumptions as the prior year.
(2) Where a vesting scale is used, the table reflects the maximum achievable allocation.
(3) The September 1999 plan failed to satisfy the performance measure during the performance period, and as a result all restricted shares and options lapsed on 13 September 2004.
(4) The September 2001 plan failed to satisfy the performance measure in the first quarter of the performance period. In accordance with the terms of the plan half the maximum potential
allocation lapsed on 6 December 2004. The performance measure was subsequently achieved in the performance period and the remaining performance rights and options vested. As at
30 June 2005 no performance rights or options had been exercised by any participants.
Figure 14: Amortised accounting value of all LTI equity for the year ending 30 June 2005
Aggregate
Granted during period (1) Exercised Lapsed granted, exercised
% of total remuneration (2) and lapsed
($) ($) ($) ($) ($)
Zygmunt E Switkowski 1,747,446 26.1% – – 1,747,446
Bruce Akhurst 490,320 19.1% – – 490,320
Doug Campbell 448,098 19.7% – – 448,098
David Moffatt 498,492 17.6% – – 498,492
Ted Pretty 498,492 16.7% – – 498,492
Michael Rocca 391,575 21.2% – – 391,575
Bill Scales 362,292 21.5% – – 362,292
Deena Shiff (3) 170,250 22.6% – – 170,250
John Stanhope 410,643 25.3% – – 410,643
David Thodey 452,865 23.0% – – 452,865
(1) This represents the accounting value at grant date of TSR and EPS performance rights granted in fiscal 2005.
(2) Total remuneration is the sum of primary benefits, post employment benefits and equity compensation as detailed in figure 12.
(3) Ms Shiff’s equity allocation under the annual LTI plan was made prior to her commencing as GMD Wholesale.
Figure 15: Value of equity-based performance rights granted, exercised and lapsed in fiscal 2005
CEO and senior executives’ outstanding equity-based instruments
The accounting value and actual number of the CEO and senior executives’
performance rights, restricted shares and options that were granted,
exercised and lapsed in fiscal 2005 is detailed in figure 15 and 16. As the
values shown in figure 15 represent the accounting value, the executive
may not actually receive these amounts.
The value of lapsed instruments in figure 15 is based on the accounting
value. This value is included to address our reporting obligations only.
Where these instruments lapse, there is no benefit at all to the executive,
and therefore no transfer of any equity or equity-related instrument. All
instruments that have lapsed are subject to external performance hurdles
(TSR), therefore no lapsing value is recorded in the following table in
accordance with relevant accounting standards.