The following table sets out the actual value Senior Executives derived from the various components of their remuneration in FY 2009/10, from an individual
perspective. The value of remuneration includes the FY 2009/10 STI payable in September 2010 and prior year LTI grants where the executive physically
received shares from these in FY 2009/10:
f ixed
r emuneration lti (2)
(including super) sti (1) (unaudited) other (3) total
Dr Peter Goode 1,750,036 641,666 - 13,018 2,404,720
Larry Ames (from 4 January 2010) 297,071 540,319 - 3,635 841,025
Elizabeth Hunter 480,010 108,000 - 11,470 599,480
Matthew Irwin 660,013 168,050 42,164 23,857 894,084
Bruce James 909,019 266,367 - 23,933 1,199,319
Steve MacDonald 551,471 410,450 - 23,775 985,696
Paul McCarthy (up to 11 January 2010) 330,642 - 23,912 23,574 378,128
Kate Munnings 545,411 117,466 15,523 16,608 695,008
Tiernan O’Rourke (from 11 January 2010) 381,555 731,017 - 5,906 1,118,478
Joseph Sadatmehr 1,019,190 170,904 109,824 177,268 1,477,186
Philip Wratt (from 11 January 2010) 261,910 59,213 - 66,927 388,050
Nicholas Yates (from 14 September 2009) 341,938 86,850 - 12,914 441,702
Total current Senior Executives 7,528,266 3,300,302 191,423 402,885 11,422,876
(1) This figure includes sign-ons and the value of STI earned by the executive in FY 2009/10, excluding the value of the deferred component, which is subject to performance
hurdles for a further one to two years before the executive receives any actual shares. For further details of the Company’s STI plan, please see pages 58 to 59 of the
remuneration report.
(2) This figure represents the value of LTI awards which vested during the year, worked out using the closing price of the Company’s shares on the vesting date. The value
realised by the executive (if the vested LTI awards were exercised and sold) may be a different to this value. LTI awards that were granted during FY 2009/10 are NOT included
in this table, as they are not eligible for vesting until after the release of the Company’s full year results for FY 2011/13. For further details of the Company’s LTI plan, please see
pages 60 to 61 of the remuneration report.
(3) This figure includes long service leave accruals and non-monetary benefits.
The Company is confident that the remuneration initiatives which have been adopted during the year are robust, further
achievement of its remuneration objectives, aim to address the complex issues which have emerged in the current economic,
social and political climate, and support the creation of long-term value for shareholders. The Company will continue to assess
its remuneration structures on an ongoing basis to ensure that they remain consistent with remuneration principles and are
appropriate in light of market conditions and remain competitive in attracting and retaining staff in tough economic
Terminology In this report, the term “Senior Executives” refer to:
• the five most highly remunerated Company/Group executives, and
• all other executives who fall within the definition of key management personnel of the Group (being those persons with
authority and responsibility for planning, directing and controlling the activities of the Group) including the Managing
Director and Chief Executive Officer (“MD/CEO”).
The term “Non-Executive Directors” is used to refer to the non-executive directors of the Company.
“STI” refers to short-term incentives.
“MTI” refers to medium-term incentives.
“LTI” refers to long-term incentives.
“KPIs” refers to key performance indicators.