Page 25 - Suncorp_Review

Suncorp Group Limited Annual Report 2010/11 23

As outlined in section 2.3, STI outcomes are determined by the assessment of each SLT member’s performance against predetermined fnancial and non‑fnancial performance objectives. Actual STI payments for 2011 are represented in the table below. On average, 42% of the STI opportunity was forfeited. STI awards for 2011

ACTUAL STI AWARDED ($’000)  1

MAXIMUM STI

($’000)  2,3

ACTUAL STI AWARD

AS % OF MAXIMUM STI

% OF MAXIMUM STI AWARD FORFEITED

AMOUNT DEFERRED ($’000)

Executive director

Patrick Snowball 1,980 3,300 60 40 990 Senior Executives

Anthony Day 700 1,265 55 45 245 Gary Dransfeld 4 60 100 60 40 21 David Foster 775 1,406 55 45 271 Mark Milliner 855 1,462 58 42 299 John Nesbitt 940 1,560 60 40 329 Amanda Revis 4 595 1,003 59 41 208 Jeff Smith 945 1,463 65 35 331 Robert Stribling 670 1,125 60 40 235 Geoff Summerhayes 700 1,290 54 46 245 Former Senior Executives

Roger Bell 4 518 1,279 52 48 181 Dharma Chandran 5 – – – – –

1 The value of STI awarded for 2011 represented is before any deferral.

2 Maximum STI represents 150% of fxed remuneration for the Group CEO and 187.5% of fxed remuneration for all other SLT members. 3 The maximum potential value of the 2011 STI awards for the SLT is the amount disclosed. A minimum level of performance must be achieved before any STI is awarded. Therefore, the minimum potential value of the STI for all participants in 2011 was nil.

4 Individual was not a KMP for the full fnancial year 2011. Pro rata maximum STI is represented within the table, to refect the maximum STI possible during the time the Senior Executive was a KMP. 5 Mr Chandran was not eligible for STI in 2010 or 2011.

Company performance and long‑term incentives

In 2011 the LTI performance hurdles were not met and the SLT members in offce at 30 June 2011 derived no value in 2011 in relation to their LTI entitlements. As outlined in section 2.3, the vesting of LTI is based on relative TSR performance against the Peer Comparator Group. If the Company’s TSR performance does not meet or exceed the median of this Peer Comparator Group, LTI does not vest and the SLT members are not rewarded.

The graph below shows the Company’s TSR performance relative to the S&P/ASX 50 Index over the fve years to 30 June 2011. The S&P/ASX 50 Index is used as a proxy for the performance of the Peer Comparator Group. S&P/ASX Top 50 Accumulation Index and SUN share price

Return Index including net dividends (both indices rebased at 100 at 30/06/2006)

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SUN share price performance

S&P/ASX Top 50 Accumulation Index Performance