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NOTES TO THE GROUP ANNUAL FINANCIAL STATEMENTS
CONTINUED
For the year ended 31 May 2015
186
BLUE LABEL INTEGRATED ANNUAL REPORT 2015
32.
EQUITY COMPENSATION BENEFIT continued
Movements in the number of forfeitable shares outstanding during the year are as follows:
Grant date
Vesting date
Number
of shares
Fair value
of grant
R’000
At 31 May 2013
11 636 710
60 857
Third award
3 824 824
17 977
Fourth award
4 315 783
19 421
Fifth award
3 496 103
23 459
Granted during the year
2 782 541
24 347
Sixth award
2 September 2013
31 August 2016 2 782 541
24 347
Shares forfeited during the year
(1 074 880)
(5 724)
Third award
(194 902)
(916)
Fourth award
(496 374)
(2 234)
Fifth award
(383 604)
(2 574)
Shares vested during the year
(3 629 922)
(17 061)
Third award
31 August 2013 (3 629 922)
(17 061)
At 31 May 2014
9 714 449
62 419
Fourth award
3 819 409
17 187
Fifth award
3 112 499
20 885
Sixth award
2 782 541
24 347
Granted during the year
2 937 836
26 147
Seventh award
3 September 2014
31 August 2017
2 937 836
26 147
Shares forfeited during the year
(419 998)
(3 346)
Fifth award
(161 233)
(1 082)
Sixth award
(258 765)
(2 264)
Shares vested during the year
(3 819 409)
(17 187)
Fourth award
31 August 2014
(3 819 409)
(17 187)
At 31 May 2015
8 412 878
68 033
Fifth award
2 951 266
19 803
Sixth award
2 523 776
22 083
Seventh award
2 937 836
26 147
Refer to note 18 for the expense recognised in the statement of comprehensive income relating to
the equity compensation benefits.
The fair value of the shares is based on the value paid for the shares on the open market at grant
date.
The total number of forfeitable shares issued to executive directors during the period is 955 617
(2014: 1 010 060).
The share-based payment expense in relation to these executive directors is R8.9 million (2014:
R5.6 million).
Refer to note 30 for details per Director.