Telstra 2008 Annual Report Download - page 97

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Telstra Corporation Limited and controlled entities
Remuneration Report
Summary of LTI plans
As at 30 June 2008 the vesting status of all LTI equity plans is as follows:
Figure 6: LTI Status
* February 2004 allocations were mid-cycle allocations to accommodate new executives
7. Remuneration tables and data
The remuneration of our KMP’s (including non-executive directors) is set out in the following tables. In accordance with the
requirements of Section 300A of the Corporations Act 2001 and Regulation 2M.3.03, the remuneration disclosures for fiscal 2008
and 2007 only include remuneration relating to the portion of the relevant periods that each individual was considered a KMP. As
a result this approach can distort year-on-year remuneration comparisons.
Plan Type of instrument
granted
Performance
period
Result Future financial years
in which grants vest
Status
Growthshare 2002 –
Sept 2001
allocation
Options 6/9/04 – 6/9/06 50% Vested prior to
fiscal 2008.
No further amounts
vest in future financial
years.
May be exercised up
to 6 Sept 2011.
Growthshare 2003 –
Sept 2002
allocation
Performance rights 5/9/05 – 4/9/07 All expired. No amounts vest in
future financial years.
The plan ceased.
Growthshare 2004 –
Sept 2003
allocation
Performance rights 5/9/06 – 5/9/08 The threshold
hurdle was
achieved during
fiscal 2008.
No further amounts
vest in future financial
years.
The performance
rights are exercisable
immediately
Growthshare 2004 –
Feb 2004 allocation*
Performance Rights 20/2/07 – 20/2/09 The threshold
hurdle was
achieved during
fiscal 2008.
No further amounts
vest in future financial
years.
The performance
rights are exercisable
until 20 May 2009.
Growthshare 2005 –
Aug 2004 allocation
EPS Performance
Rights
TSR Performance
Rights
1/7/04 – 30/6/07
20/8/07 – 20/8/09
All EPS Performance
Rights expired
during fiscal 2008.
The threshold
hurdle was
achieved during
fiscal 2008.
No amounts vest in
future financial years.
No further amounts
vest in future financial
years.
The EPS plan has
ceased.
The performance
rights are exercisable
until 20 Nov 2009.
Growthshare 2006 –
Feb 2006 allocation
Performance Rights 60% tested on
30/6/08
40% to be tested
on 30/6/10
20% of the stretch
number of
performance rights
tested on 30/6/08
have vested and
10% expired.
Performance rights
may vest in fiscal 2009
and 2011.
Vested performance
right are exercisable
until 19 Aug 2012.
The next test date is
30 June 2010.
Growthshare 2007 Options 27% tested on
30/6/08
30% tested on
30/6/09
43% tested on
30/6/10
13% of options
vested and 3%
expired. A threshold
TSR growth of
11.5% over the four
years of the plan
must be achieved
before any vested
options may be
exercised.
Options may vest in
fiscal 2009, 2010 and
2011.
Subsequent testing
points on 30 June
2009 and 30 June
2010.
Growthshare 2008 Options 1/7/07 - 30/6/11 The plan has not
yet reached a
testing point.
Options may vest in
fiscal 2010, 2011 and
2012.
The first test is point
is 30 June 2009.
Subsequent testing
points on 30 June
2010 and 30June
2011.