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Concise Annual Report : Concise Annual Report 2012
CONCISE ANNUAL REPORT 2012 47 Figure 11D: KMP remuneration for the year ended 30 June 2011 -- E x e c u t i v e s Current Executive Director David Attenborough (vii) (viii) 717,685 470,000 257,539 - 2,040 15,199 1,462,463 22,109 201,387 66,326 69,444 1,821,729 27% - Current Executives Mohan Jesudason 638,249 475,000 13,322 300,000 41,863 15,199 1,483,633 351,204 - 555,022 422,584 2,812,443 29% - Kerry Willcock 514,436 350,000 - - 26,556 15,199 906,191 244,314 - 394,171 - 1,544,676 38% - Future Executive Damien Johnston (ix) 67,811 23,868 - - 38,422 921 131,022 - - - - 131,022 18% - Former Executive Director Elmer Funke Kupper (x) 1,386,938 2,475,000 - - (58,106) 15,199 3,819,031 1,330,928 - (294,357) - 4,855,602 78% 3,000,000 Former Executives Larry Mullin (vii) (xi) (xii) 1,272,356 1,268,182 557,365 - 2,797 - 3,100,700 182,292 119,508 500,000 44,533 3,947,033 37% - Matt Bekier (xii) 728,771 587,121 30,779 - 17,399 15,199 1,379,269 417,120 - 661,991 - 2,458,380 41% - Louise Marshall (xiii) 379,651 253,636 - - 3,972 14,278 651,537 107,512 - 253,425 - 1,012,474 36% - Total 5,705,897 5,902,807 859,005 300,000 74,943 91,194 12,933,846 2,655,479 320,895 2,136,578 536,561 18,583,359 3,000,000 (i) Comprises salary, salary sacrificed benefits (including superannuation, motor vehicle novated leases and school fees) and annual leave expense. (ii) Comprises the cost to the Company for providing low interest loan to acquire shares in the Company pursuant to issues made under a previous employee share plan, relocation expenses, living away from home benefits, car parking, accommodation, airfares and travel costs, where applicable. (iii) Comprises cash appointment incentives and retention payments, where applicable. (iv) Represents the fair value of share based payments expensed by the Company, which includes amounts expensed on cessation of employment where equity instruments are retained, and reversal of previously recognised remuneration on cessation of employment where equity instruments lapse. Value only accrues to the KMP when conditions have been met. (v) As a result of the Demerger, the remaining fair value of share based payments not already recognised was expensed where the date of testing was accelerated, the equity instruments were cancelled or disposal restrictions and forfeiture provisions were waived. The balance includes the reversal of previously recognised remuneration where equity instruments lapse on cessation of employment resulting from the Demerger. (vi) Represents the sum of bonus, Performance Options and Performance Rights (excluding accelerated charge) as a percentage of total remuneration, excluding termination payments. (vii) Share based allocations include Restricted Shares that were granted as appointment incentives. (viii) Commenced employment on 9 April 2010, and as a KMP on 29 July 2010 following the receipt of all necessary regulatory approvals. Total remuneration for the period whilst a KMP was $1,698,708. Non-monetary benefits restated for certain costs not previously included of $78,223. (ix) Commenced in role on 9 June 2011. Salary & fees reflects increase in annual leave accrual due to new salary level. Commenced as a KMP on 12 July 2011 following the receipt of all necessary regulatory approvals. Total remuneration for the period whilst a KMP was nil. (x) Ceased employment and as a KMP on 8 June 2011. In addition to the amounts disclosed above, payment of annual leave on cessation amounted to $188,335. (xi) Received cash in lieu of superannuation, due to being a senior executive temporary resident of Australia. These amounts are disclosed under salary and fees. (xii) Ceased employment and as a KMP on 8 June 2011 as a result of the Demerger to join Echo. (xiii)Ceased as a KMP on 8 June 2011 as a result of the Demerger. The remuneration report for the year ended 30 June 2011 included accrued termination benefits of $337,500. No termination benefits were paid, as Ms Marshall joined Echo following the Demerger. The amounts that appear under the heading 'Accelerated Charge for Share Based Payments' are the amount required under the accounting standards to be expensed by the Company, in respect of the allocation of Long Term Incentives and Restricted Shares to KMP, resulting from the collapsing of the Company's Employee Share Schemes prior to the implementation of the Demerger. These amounts are therefore not amounts actually received by executives during the year.
Concise Annual Report 2013