2014 (’000) |
2013 (’000) |
||
39. |
Share-based compensation |
||
(i) Cash settled – SARs and ESOP | |||
Movement in the number of share appreciation rights outstanding was as follows: | |||
Beginning of the year | 27 575 | 29 199 | |
Granted | – | 53 | |
Lapsed during the year | (1 132) | (1 295) | |
Paid to employees during the year | (106) | (382) | |
End of the year | 26 337 | 27 575 | |
Exercisable | 12 504 | 9 011 | |
Not yet exercisable | 13 833 | 18 564 | |
26 337 | 27 575 |
Cash-settled share-based payment rights outstanding (number in thousands) at the end of the year have the following terms: | ||||||||||||
Vesting years | Total number | |||||||||||
Price per share | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | ||
SARs | ||||||||||||
R63 – R150 | 194.0 | 361.3 | 382.8 | 181.4 | 503.8 | 944.4 | 574.6 | 574.6 | 574.7 | 13.3 | 4 304.9 | |
R159 – R171 | 43.0 | 51.4 | 657.1 | 732.4 | 635.8 | 673.0 | 37.3 | 37.3 | 37.4 | – | 2 904.7 | |
R171 – R190 | 0.7 | 6.9 | 287.3 | 305.0 | 472.2 | 921.6 | 638.6 | 628.0 | 449.0 | – | 3 709.3 | |
R190 – R210 | 4.7 | 11.6 | 32.5 | 518.6 | 1 291.1 | 1 276.8 | 1 265.3 | 779.8 | – | – | 5 180.4 | |
R210 – R334 | 134.9 | 302.6 | 313.7 | 322.7 | 225.0 | 32.5 | 21.6 | 19.1 | – | – | 1 372.1 | |
ESOP | ||||||||||||
R159.18* | – | – | – | 784.0 | – | – | – | – | 8 081.6 | – | 8 865.6 | |
Total 2014 | 377.3 | 733.8 | 1 673.4 | 2 844.1 | 3 127.9 | 3 848.3 | 2 537.4 | 2 038.8 | 9 142.7 | 13.3 | 26 337.0 | |
Total 2013 | 425.4 | 834.0 | 1 906.5 | 3 020.4 | 3 282.2 | 4 098.8 | 2 684.1 | 2 141.7 | 9 168.2 | 13.3 | 27 574.6 | |
Actual remaining contractual life (years): | ||||||||||||
2014 | 1 – 3 | 2 – 4 | 2 – 5 | 3 – 7 | 4 – 8 | 5 – 8 | 6 – 9 | 7 – 9 | 3 – 9 | 9 | ||
2013 | 2 – 4 | 2 – 5 | 3 – 6 | 4 – 7 | 5 – 8 | 6 – 9 | 7 – 10 | 8 – 10 | 4 – 10 | 10 |
* | These share-based payment rights, excluded from the remaining contractual life table, relate to the ESOP, which have a remaining contractual life of two years. | |
Refer to the directors’ report for the details on share-based payment rights held by key management personnel (directors and senior executive management). |
(ii) Equity settled – LTIP SAR | |||||
2014 | 2013 | ||||
Number (’000) |
Weighted average exercise price (R) |
Number (’000) |
Weighted average exercise price (R) |
||
Movement in the number of share options outstanding was as follows: | |||||
Beginning of the year | 1 019 | 146.55 | — | — | |
Granted | 1 031 | 134.72 | 1 045 | 146.55 | |
Forfeited | (140) | 146.55 | (26) | 146.55 | |
Exercised (good leavers) | – | – | – | – | |
End of the year (not yet exercisable) | 1 910 | 140.47 | 1 019 | 146.55 |
Share options outstanding (number in thousands) at the end of the year have the following terms: |
Price per share | Vesting years 2016 |
Vesting years 2017 |
Total number |
|
<R100 | 5 | – | 5 | |
R100 – R150 | 918 | 987 | 1 905 | |
Total 2014 | 923 | 987 | 1 910 | |
Total 2013 | 1 019 | – | 1 019 | |
The share options have a contractual life of three years after vesting date. |
(iii) Equity settled – LTIP CSP | |||
2014 Number (’000) |
2013 Number (’000) |
||
Movement in the number of share options outstanding was as follows: | |||
Beginning of the year | 1 768 | – | |
Granted | 1 859 | 1 811 | |
Forfeited | (126) | (43) | |
Exercised (good leavers) | (2) | – | |
End of the year (not yet exercisable) | 3 499 | 1 768 |
Share options outstanding (number in thousands) at the end of the year have the following terms: |
Price per share | Vesting years 2016 |
Vesting years 2017 |
Total number |
|
Total 2014 | 1 672 | 1 827 | 3 499 | |
Total 2013 | 1 768 | – | 1 768 |
The share options are full value shares, with a R nil exercise price. The contractual life ends on the vesting date. |