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76
Vodacom Group Limited
Integrated report for the year ended 31 March 2018
Tables of outstanding share awards (value of shares)
In the tables presented below, the value at award represents the face value of shares at the time of award. The value at year-end, after
adjusting for share price movements and the targeted vesting level, thus represents the current estimate of value likely to accrue to
participants based on the 31 March 2018 closing price of R153.07.
The column indicated by ‘Settled in the year’ represents the cash value of all awards that were settled per the disclosure requirements of
King IV. Similarly, the column indicated by ‘Forfeited in the year’ represents the cash value forfeited by participants in the year.
MS Aziz Joosub
Financial year
awarded
Date
awarded
Value
at award
date
Estimated
effect of
share price
1
Estimated
effect of
per-
formance
targets
2
Forfeited
in the
year
3
Settled
in the
year
3
Value
at year-
end
4
Currency
Conditional benefit – restricted shares
2014
May 2013 23 669 391 8 262 542
–
–
– 31 931 933
ZAR
Vodacom FSP – with Company performance vesting conditions
2015
Jun 2014 12 510 052 3 255 936
–
(7 394 248)
8 371 740
–
ZAR
2016
Jun 2015 13 140 009 1 881 210
(7 510 609)
–
– 7 510 610
ZAR
2017
Jun 2016 17 999 921 (1 453 207)
(8 273 357)
–
–
8 273 357
ZAR
2018
Jun2017 18 000 294 (1 378 270)
(8 311 012)
–
–
8 311 012
ZAR
Vodacommatching award
The CEO made the required investments in Vodacom shares, as per his co-investment requirement and as a result the following matching
awards were awarded:
2015
Nov 2014 6 950 021 1 762 251
–
(4 086 010)
4 626 262
–
ZAR
2016
Aug 2015 7 963 471
775 907
(4 369 689)
–
– 4 369 689
ZAR
2016
Nov 2015 2 000 058
48 172
(1 024 115)
–
– 1 024 115
ZAR
2017
n/a
–
–
–
–
ZAR
2018
Jun2017 14 442 206 (1 105 829)
(6 668 188)
–
–
6 668 189
ZAR
2018
Jun2017 12 500 135 (957 126)
(5 771 504)
–
–
5 771 505
ZAR
Vodafone matching award at target level (100% vesting)
The Vodafone matching award will vest based on actual targets achieved. The target range is 0% – 250%. The value of Vodafone shares is
disclosed at target level and as a result the impact of performance targets are not shown.
2015
Jun 2014
187 891
27 123
–
–
234 043
–
GBP
2016
Sep 2015
170 549
(9 887)
–
–
–
160 662
GBP
2017
Jun 2016
221 550
(26 945)
–
–
–
194 605
GBP
2018
Aug2017
284 890
(37 985)
–
–
–
246 905
GBP
YeboYethu units
2009
Sep 2008
1 051 399
ZAR
2016
Sep 2015
350 745
ZAR
Notes:
1. The estimated effect of share price is based on the share price movement between the date of award and the closing price on 31 March 2018.
2. The estimated effect of performance targets is based on the targeted 50% vesting being applied.
3. Shares settled and forfeited in the year were at a price of R165.12 for FSPs and R164.11 for matching awards.
4. Value at year-end is based on the closing share price on 31 March 2018 of R153.07 for Vodacom shares and R0.40 for YeboYethu units.
Remuneration report
continued