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NOTES TO THE COMPANY ANNUAL FINANCIAL STATEMENTS
CONTINUED
For the year ended 31 May 2015
216
BLUE LABEL INTEGRATED ANNUAL REPORT 2015
11.
EQUITY COMPENSATION BENEFIT continued
Forfeitable shares continued
Movements in the number of forfeitable shares outstanding during the year are as follows:
At 31 May 2013
5 379 330
27 792
Third award
1 888 167
8 874
Fourth award
2 039 590
9 178
Fifth award
1 451 573
9 740
Granted during the year
1 140 180
9 977
Sixth award
2 September 2013 31 August 2016 1 140 180
9 977
Shares forfeited during
the year
(461 206)
(2 449)
Third award
(70 875)
(333)
Fourth award
(227 595)
(1 024)
Fifth award
(162 737)
(1 092)
Shares vested during the year
(1 817 292)
(8 541)
Third award
31 August 2013 (1 817 292)
(8 541)
At 31 May 2014
4 241 011
26 779
Fourth award
1 811 995
8 154
Fifth award
1 288 836
8 648
Sixth award
1 140 180
9 977
Granted during the year
1 261 973
11 232
Seventh award
3 September 2014 31 August 2017
1 261 973
11 232
Shares vested during the year
(1 811 995)
(8 154)
Fourth award
31 August 2014
(1 811 995)
(8 154)
At 31 May 2015
3 690 989
29 857
Fifth award
1 288 836
8 648
Sixth award
1 140 180
9 977
Seventh award
1 261 973
11 232
Refer to note 14 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).
Included in this is R659 000 (2014: R659 000) paid by subsidiaries.
Refer to note 30 of the Group annual financial statements for details per Director.
Grant
date
Vesting
date
Number
of shares
Fair value
of grant
R’000