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43
APN
annual report
2011
remuneration report
APN News & Media Limited and Controlled Entities
G: Additional statutory disclosures
Equity instrument disclosures relating to Directors and Senior Executives
The key terms and conditions of each grant of options affecting remuneration of Directors and Senior Executives in this or future reporting
periods are as follows:
Grant date
Expiry date
Exercise price
Value per option
at grant date
Date first exercisable
(subject to
performance hurdles)
2 May 2006
2 May 2011
$4.99
$0.80
2 May 2009
2 June 2008
2 June 2013
$3.93
$0.55
2 June 2011
The 2006 awards were tested on 31 December 2010, and it was determined that the minimum performance hurdles had not been satisfied.
Consequently all 2006 awards lapsed in May 2011. In respect of the 2008 awards, the minimum performance hurdles have not been satisfied
as at 31 December 2011 and they are not likely to be achieved during the remaining life of the options.
Option holdings
Options held by Senior Executives during the year ended 31 December 2011 are shown in the table below.
Balance at start
of the year
Lapsed
Exercised
Balance at end
of the year
Options vested
during the year
Vested and
exercisable at
end of the year
Senior Executives
P Myers
1,000,000 (500,000)
–
500,000
–
–
M Simons
800,000 (400,000)
–
400,000
–
–
R Herring
800,000 (400,000)
–
400,000
–
–
W Lee
800,000 (800,000)
–
–
–
–
R Lourey
200,000
–
–
200,000
–
–
Total
3,600,000 (2,100,000)
–
1,500,000
–
–
Senior Executives not specified in the above table hold no options. No Directors hold any options.
Performance right holdings
Brett Chenoweth holds 750,000 performance rights issued under the LTI plan at 31 December 2011.
Value of options exercised and shares issued
No ordinary shares in the Company were issued as a result of the exercise of options by any Director of APN News & Media Limited or any
Senior Executive of the consolidated entity during the year.
The information provided in the above table is based on information known to the Directors and Senior Executives of the Company.
In relation to any holdings of related parties (as defined in AASB 124
Related Party Disclosures
), the Directors and Senior Executives have no
control or influence over the financial affairs of the related parties to substantiate their holdings.
Loans to Directors and Senior Executives
There are no loans made to Directors of the Company or Senior Executives.
Other transactions with Directors and Senior Executives
Details of other transactions with Directors and Senior Executives are provided in note 27 to the financial statements.