Page 97 - Suncorp_Review

Suncorp Group Limited Annual Report 2010/11 95

Details of the deferred ordinary shares granted under the EPSP as long-term incentives and the inputs for measurement of grant date fair value are detailed below:

Inputs for measurement of grant date fair value Number of shares unvested

Risk-free Fair value at Share Expected Vesting Dividend interest

Grant date grant date price volatility period yield rate 2011 2010

1 October 2005 $11.22 $19.71 20% 3 years 4.7% 5.34% – 67,925 1 October 2006 $12.41 $21.94 17% 3 years 4.9% 5.80% 337,813 352,077 1 April 2007 $11.41 $20.80 19% 2.5 years 5.0% 6.20% 165,371 192,075 17 April 2007 $7.79 $20.57 19% 3 years n/a 6.00% 11,138 11,607 1 October 2007 $14.60 $20.35 19% 5 years 5.1% 6.44% 776,615 851,589 1 October 2008 $4.32 $9.61 31% 3 years 7.2% 5.24% 1,530,320 1,680,121 1 April 2009 $4.32 $5.90 31% 2.5 years 7.2% 5.24% – 23,750 1 October 2009 $6.34 $8.82 47% 3 years 5.6% 5.17% 1,758,515 1,926,397 1 October 2009 $6.56 $8.82 47% 4 years 5.6% 5.17% 300,000 300,000 1 October 2009 $6.75 $8.82 47% 5 years 5.6% 5.17% 300,000 300,000 3 May 2010 $5.94 $9.11 34% 3 years 4.6% 5.35% 313,016 313,016 1 October 2010 $5.31 $8.77 29% 3 years 4.1% 4.87% 1,672,413 – 8 June 2011 $4.13 $8.09 22% 2.3 years 4.1% 4.87% 108,062 –

7,273,263 6,018,557

The movement in the number of shares granted under the EPSP is as follows:

Number of shares Number of shares 2011 2010

Outstanding at the beginning of the fnancial year 6,018,557 4,231,308 Granted during the year 1,862,432 3,148,675 Vested and allocated during the year (34,899) (18,187) Forfeited during the year (572,827) (1,343,239) Outstanding at the end of the fnancial year 7,273,263 6,018,557

12.2 Other share plans

For the DESP and NEDSP, shares are acquired and funded through the participating employee’s or non-executive director’s remuneration. These have a nil proft or loss impact for the Suncorp Group. Shares are acquired at various times during the year. The fair value of these shares are the market value of the shares when they were acquired. Other details are as follows:

2011 2010

Total number of shares acquired through DESP and NEDSP 179,606 133,565 Fair value (market value at dates of grant) $1,559 thousand $1,146 thousand Amounts received from employees and non-executive directors $1,559 thousand $1,146 thousand

The Suncorp Group granted to each eligible employee ordinary shares of the Company to the value of $500 under the EESP for the year ended 30 June 2011. These shares will be acquired on-market for allocation to employees by the share plan in October 2011. The Suncorp Group did not grant any shares under the EESP for the prior year.