217 / 248
NOTES TO THE COMPANY ANNUAL FINANCIAL STATEMENTS
CONTINUED
For the year ended 31 May 2015
215
BLUE LABEL INTEGRATED ANNUAL REPORT 2015
11.
EQUITY COMPENSATION BENEFIT continued
Forfeitable shares continued
The performance condition for the sixth award vesting on 31 August 2016 of forfeitable shares is as
follows:
•
•
40% of the awards are allocated towards retention. In order to receive this portion of the allocation
the employee is required to be employed within the Group at the vesting date (31 August 2016).
•
•
60% of the awards are allocated on the basis of 50% for growth in core headline earnings per
share and 10% for shareholder returns.
The 50% for growth in core headline earnings will be based on the following achievements:
•
•
If growth is 5% above CPI over three years, then 20% of the 50% will vest.
•
•
If growth is 10% above CPI over three years, then an additional 50% (i.e. a total of 70%) of the
50% will vest.
•
•
If growth is 25% above CPI over three years, then a further 30% (i.e. a total of 100%) of the 50%
will vest.
The 10% for shareholder return will be based on a 10% compounded growth in the share price over
the three-year vesting period measured with reference to the weighted average price per share during
the month of the commencement of the allocation and the weighted average share price for the
month during which the vesting takes place, plus dividends over the three-year period.
The performance condition for the seventh award vesting on 31 August 2017 of forfeitable shares is
as follows:
•
•
40% of the awards are allocated towards retention. In order to receive this portion of the allocation
the employee is required to be employed within the Group at the vesting date (31 August 2017).
•
•
60% of the awards are allocated on the basis of 50% for growth in core headline earnings per
share and 10% for shareholder returns.
The 50% for growth in core headline earnings will be based on the following achievements:
•
•
If growth is 5% above CPI over three years, 20% of the 50% will vest.
•
•
If growth is 10% above CPI over three years, an additional 50% (i.e. a total of 70%) of the 50%
will vest.
•
•
If growth is 25% above CPI over three years, a further 30% (i.e. a total of 100%) of the 50% will
vest.
The 10% for shareholder return will be based on a 10% compounded growth in the share price over
the three-year vesting period measured with reference to the weighted average price per share during
the month of the commencement of the allocation and the weighted average share price for the
month during which the vesting takes place, plus dividends over the three-year period.