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CIMIC Group Limited Annual Report 2016 |
Remuneration Report
MOVEMENTS IN RIGHTS UNDER THE PREVIOUS LTI
Grants of share rights under the previous LTI were made to eligible Senior Executives in 2014 in accordance with the terms of their
individual ESA. The awards were made subject to Earnings Per Share (EPS) and Total Shareholder Return (TSR) performance conditions
measured over a 3 year period, and remain on foot until the original vesting date. Full details of these awards can be found on pages 29
to 31 of the 2014 Annual Report.
The following table sets out the movement of share rights granted in previous financial years under the previous LTI.
Name
Award
year
Balance at
31 Dec
2015
(number)
Granted
(number)
Granted
(fair value)
(A$)
Vested
and
exercised
1
(number)
Vested
and
exercised
(value)
(A$)
Lapsed
(number)
Balance at
31 Dec 2016
(number)
Senior Executives
A Valderas
2014
32,552
-
-
-
-
-
32,552
A Muriel
Bernal
2014
29,982
-
-
-
-
-
29,982
1.
Performance hurdles for the 2014 LTI are due to be tested in February 2017.
MOVEMENTS IN OPTIONS UNDER LTI
Grants of options under the LTI were approved to be made to eligible Senior Executives in February 2016 as their 2015 LTI. On 28 October
2015, the Board approved the replacement of the previous performance rights based plan with an options based plan. The 2015 award
represents the first grant under the new plan. Full details of the award can be found on page 31 of this Remuneration Report.
No options under the LTI were awarded for the 2016 year.
The following table sets out the movement of options granted in previous financial years under the current LTI.
Name
Award
year
Balance
at 31 Dec
2015
(number)
Granted
(number)
Granted
(fair
value)
(A$)
Vested
1
(number)
Vested
(value)
(A$)
Vested and
unexercised
(number)
Exercised
(number)
Exercised
(value)
(A$)
Balance at
31 Dec
2016
2
(number)
Senior Executives
A
Valderas
2015
104,612
-
-
-
-
-
-
-
104,612
A Muriel
Bernal
2015
76,280
-
-
-
-
-
-
-
76,280
1.
Options awarded on 29 October 2015 will vest 2 years following grant on 29 October 2017.
2.
Of this number, all options are unvested and not yet exercisable.
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