Remuneration report
Statutory tables Dealing in securities In accordance with the Group’s Dealing in Securities Policy, Directors, members of the Executive Committee and their related parties must not enter into hedging arrangements in relation to Transurban stapled securities. In addition, employees who have equity awards under the Group equity plan must not hedge against those equity awards. Directors and employees are also prohibited from entering into margin lending arrangements using Transurban stapled securities as security. LTI performance awards granted in FY24 Eligible Executive KMP received LTI performance awards with a grant date of 6 October 2023, except for the CEO and CFO with a grant date of 19 October 2023. The FY24 LTI Plan is subject to a four-year performance period over the period from 1 July 2023 through to 30 June 2027. LTI awards were granted in two equal tranches, 50% of the LTI award may vest subject to achieving the relative TSR performance hurdle and 50% of the LTI award may vest subject to achieving the FCF per security performance hurdle. The former CEO, Scott Charlton, did not receive LTI performance awards for FY24.
Securities held by Executive KMP as at 30 June 2024
Received during the year from equity vesting
Balance at start of year
Other changes during the year
Balance at end of year 1,2
Current Executive KMP M Jablko
67,169 52,390
8,352
–
75,521 65,631
H Byrne 3 N Green
18,241
(5,000)
153
0
– – –
153
S Moorfield
10,200 17,370
14,010 17,187
24,210 34,557
H Wehby
Former Executive KMP S Charlton
781,693 263,262 121,148
95,967 20,268 20,352
– –
NA NA NA
M Huey
S Johnson
3,450
The relevant values of the grants are as follows:
Fair Value 4 of awards at grant date
Face Value 5 of awards at allocation date
Relative TSR
FCF per security
Security price at grant date
Grant date
Other KMP CEO and CFO
6 Oct 2023 19 Oct 2023
$5.46 $4.74
$10.47 $10.10
$12.51 $12.05
$14.39 $14.39
The following table shows the number of LTI awards granted to Executive KMP during FY24: Number of performance awards granted 9 Maximum (fair value) value 10 of grant ($) Maximum (face value) value 11 of grant ($)
Current Executive KMP M Jablko 6
204,309
1,515,973
2,461,923
H Byrne N Green 7
66,713
495,010
803,892
NA
NA
NA
S Moorfield
49,646 61,154
395,430 487,092
621,071 765,037
H Wehby
Former Executive KMP S Charlton 8
NA
NA
NA
M Huey
48,923 48,923
389,672 389,672
612,027 612,027
S Johnson
1 B alance at the date of this Report is the same as the balance at the end of FY24 2 F or S Charlton the balance at the end of the year is as at 19 October 2023 and for M Huey and S Johnson the balance at the end of the year is as at 31 May 2024, being the date they ceased to be an Executive KMP 3 In the FY23 Remuneration Report, balance at end of year was reported as 53,290; this should have been 52,390 4 F air value in accordance with AASB 2 – share-based payments 5 S ecurity price as at 1 July 2023 (allocation date) 6 M ichelle Jablko was granted 204,309 performance awards as part of her 2024 remuneration package as approved at the 2023 Annual General Meeting, under ASX Listing Rule 10.14 7 N Green did not receive an LTI award while a KMP for FY24 8 S Charlton did not receive an LTI award for FY24 9 T he minimum value of the grant, if the applicable performance measures are not met, is zero 10 M aximum value of the grant has been calculated based on a fair value approach as at the grant date. The fair value considers the probability that the Executive KMP may not derive value from the LTI award, along with other factors, including difficulty of achieving performance hurdles and anticipated security price volatility 11 M aximum value of the grant based on security price at grant date. The maximum LTI opportunity for each Executive KMP is the face value of the award (i.e. the value the Executive KMP would receive if all of their performance awards vested, based on Transurban’s security price at the time the award was granted)
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