55 / 170
Conditional share plan awards accounted for in The Bidvest Group Limited
Director
Balance
at June 30
2015
New
awards
Shares*
awarded
Vesting
arising
out of
unbundling**
Forfeited***
Transfer as
a result of
unbundling
Closing
balance
June 30
2016
DE Cleasby
87 747
19 000
(31 228)
(37 340)
(19 179)
(19 000)
–
B Joffe
310 495
70 000
(89 421)
(145 329)
(75 745)
(70 000)
–
398 242
89 000 (120 649)
(182 669)
(94 924)
(89 000)
–
* During 2016 shares were awarded at R342,62 per share.
** As a result of unbundling, The Bidvest Group Limited remuneration committee resolved to restructure the outstanding 2012, 2013, 2014, and 2015 Bidvest
CSPs. On May 26 2016 CSPs were awarded at a market price of R346,00 per share.
*** Shares forfeited as a result of performance targets not being met.
Summary of executive directors’ long-term incentives
Executive directors’ long-term incentives accounted for in the company
Director
Share-
based
payment
expense
R’000
Benefit
arising
from
award
of CSP
R’000
Benefit
arising
from
restructure
of CSPs
R’000
Gross
benefits
R’000
Previous
share-based
payment
expense
in respect
of awards
R’000
Actual LTI
benefit
R’000
2016
BL Berson
6 428
16 422
23 672
46 522
(22 551)
23 971
DE Cleasby
101
–
–
101
–
101
B Joffe
373
–
–
373
–
373
2016 total
6 902
16 422
23 672
46 996
(22 551)
24 445
2015
BL Berson
5 791
21 292
–
27 083
(11 605)
15 478
2015 total
5 791
21 292
–
27 083
(11 605)
15 478
Bidcorp Limited Annual integrated report 2016 |
Page 51
Financial overview