Corporate Report for the year ended 30 June 2022
Introduction and overview
Business performance
Governance and risk
Directors’ report
Remuneration report
Financial statements
Sustainability supplement
Security holder information
Executive KMP remuneration
Post- employment benefits Superannua - tion
Long-term benefits Share-based benefits 8, 9
Short-term employee benefits
Cash salary and fees 4
Non-monetary benefits 6
Long service leave
Deferred STI 7
LTI Awards
Cash STI 5
Total
Current Executive KMP S Charlton 2022
2,276,432
490,500
6,466
23,568
44,291
802,900
702,072
4,346,228
2021
2,278,306 1,343,200
6,466
21,694
44,125
1,032,892
787,301
5,513,984
H Byrne 2022
791,432
186,300
4,103
23,568
38,855
196,473
150,060
1,390,792
2021
703,306
255,310
4,103
21,694
13,476
208,850
126,347
1,333,086
M Huey 2022
770,447
214,250
3,932
23,568
41,710
222,450
144,827
1,421,184
2021
703,306
283,675
3,932
21,694
26,558
198,227
134,244
1,371,636
M Jablko 1 2022
1,426,432
328,150
2,975
23,568
–
148,347
1,325,260
3,254,732
2021
372,601
116,890
766
5,424
–
38,963
356,250
890,894
S Johnson 2022
791,432
163,950
4,080
23,568
(7,301)
224,435
143,790
1,343,954
2021
706,306
284,850
4,080
21,694
10,340
246,010
135,139
1,408,419
S Moorfield 2 2022
823,152
251,400
2,267
23,568
–
149,163
264,027
1,513,578
2021
605,093
196,090
1,671
16,271
–
65,363
86,006
970,494
H Wehby 3 2022
1,076,432
221,300
2,597
23,568
–
153,952
365,120
1,842,969
2021
759,715
240,555
1,815
16,271
–
80,185
146,457
1,244,998
Total 2022
7,955,760 1,855,850
26,420
164,976
117,555
1,897,720
3,095,156 15,113,437
2021
6,128,633 2,720,570
22,833
124,742
94,499 1,870,490
1,771,744 12,733,511
1 2021: Michelle Jablko commenced as a KMP on 29 March 2021 and the period of reporting is from that date 2 2021: Simon Moorfield commenced as a KMP on 5 October 2020 and the period of reporting is from that date 3 2021: Hugh Wehby commenced as a KMP on 19 October 2020 and the period of reporting is from that date 4 Cash salary and fees does not include unpaid leave taken during the year 5 The amount represents the cash STI payment to the Executive KMP for FY22, which will be paid in September 2022. FY21: cash component of STI paid in September 2021 6 Non-monetary benefits include Group employee insurance 7 A component of STI award is deferred into Transurban stapled securities. In accordance with accounting standards, the deferred component is recognised over the three-year service period 8 In accordance with the requirements of the accounting standards, remuneration includes a proportion of the fair value of equity compensation granted or outstanding during the year (i.e. performance awards under the LTI plan). The fair value of the awards is determined as at the grant date and is progressively allocated over the performance period. The amount included, as remuneration may be different to the benefit (if any) that the KMP may ultimately realise should the awards vest. The fair value of performance awards with a TSR performance measure has been determined by applying a Monte Carlo simulation (using a Black-Scholes framework) to model Transurban’s security price and the TSR performance against the comparator group performance. The fair value of performance awards with a FCF performance measure has been determined by reference to Transurban’s security price at the grant date discounted for dividends and distributions forgone throughout the performance period. As the FCF performance measure is a non-market performance condition, amounts recognised are adjusted based on the best available estimate of the number of equity instruments expected to vest 9 The value for share-based benefits for Michelle Jablko, Simon Moorfield and Hugh Wehby include their one-off grants of performance awards as detailed on pages 115 to 116
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