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BRADKEN LIMITED ANNUAL REPORT 2013 23
Bradken Limited
Directors' report (continued)
30 June 2013
D. Remuneration report (continued)
(e)
Share-based compensation (continued)
(f)
Additional information
Cash bonus
Paid /
Forfeited
%
Financial
year granted
Vested in
prior years
% *
Vested in
current year
% *
Forfeited (A)
%
Financial
years in
which Rights
may vest
Minimum total
value of grant
yet to vest (B)
$
Andrew Allen
48 / 52
2013
-
-
-
30/06/2016
-
2012
-
-
-
30/06/2015
-
2011
-
-
-
30/06/2014
-
2010
-
-
100
30/06/2013
-
Tom Armstrong
61 / 39
2013
-
-
-
30/06/2016
-
2012
-
-
-
30/06/2015
-
2011
-
-
-
30/06/2014
-
2011
61
-
39
30/06/2013
-
2010
61
-
39
30/06/2013
-
2010
-
-
100
30/06/2013
-
Stephen Cantwell
24 / 76
2013
-
-
-
30/06/2016
-
2013
-
-
-
30/06/2014
-
2012
-
-
-
30/06/2015
-
2012
-
-
-
30/06/2014
-
Brian Hodges
48 / 52
2013
-
-
-
30/06/2016
-
2012
-
-
-
30/06/2015
-
2011
-
-
-
30/06/2014
-
2010
-
-
100
30/06/2013
-
Steven Perry
48 / 52
2013
-
-
-
30/06/2016
-
2012
-
-
-
30/06/2015
-
2011
-
-
-
30/06/2014
-
2010
-
-
100
30/06/2013
-
Enda Sheridan
51 / 49
2013
-
-
-
30/06/2016
-
2012
-
-
-
30/06/2015
-
2011
-
-
-
30/06/2014
-
2010
-
-
100
30/06/2013
-
Brad Ward
151 / Nil
2013
-
-
-
30/06/2016
-
2012
-
-
-
30/06/2015
-
2011
-
-
-
30/06/2014
-
2010
-
-
100
30/06/2013
-
A=
B=
C=
Principles used to determine the nature and amount of remuneration: relationship between remuneration
and Company performance
87,398
164,793
53,203
147,294
-
Rights
-
-
-
29,631
156,587
77,955
The overall level of executive reward takes into account the performance of the Group over a number of years, with greater
emphasis given to the current and prior year.
Name
Maximum total
value of grant
yet to vest (C)
$
169,530
73,296
Details of share remuneration: Rights
The assessed fair value at grant date of Rights granted to the individuals is allocated equally over the financial periods in which
the Rights may vest, and the amount is included in the remuneration tables above. Fair values at grant date are determined
using a Black Scholes option pricing model that takes into account the exercise price, the term of the Right, the vesting and
performance criteria, the impact of dilution, the non-tradeable nature of the Right, the share price at grant date and expected
price volatility of the underlying share, the expected dividend yield and the risk free interest rate for the term of the Right.
83,269
89,398
-
83,377
147,424
For each grant of Rights included in the tables on pages 19 to 23, the percentage of the available Right that was paid, or that
vested, in the financial year, and the percentage that was forfeited because the person did not meet the performance criteria is
set out below. The Rights vest over a period up to three years, provided the vesting conditions are met (see page 21). Rights
not vested when performance hurdles are not met do not carry forward to future periods.
-
159,612
The maximum value of rights yet to vest is not determinable as it depends on the market price of shares of Bradken Limited on the Australian Stock
Exchange at the date the right is exercised. The maximum values presented above are based on the closing share price at 30 June 2013 of $4.31.
365,760
The minimum value of Rights yet to vest is nil as the performance criteria may not be met and consequently the Right may not vest.
607,801
The % of rights that failed to vest in the period as the performance criteria were not met.
-
-
172,034
48,867
73,546
271,754
29,144
344,326
Page 23
Bradken Limited