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Long-term incentives
Details of share options in Adcock Ingram granted to key management are as follows:
Offer date
Offer
price
R
Balance at the
beginning
of the year
Issued
during
the year
Change in
Executive
Committee
composition
Balance
at the end
of the year
Equity
17/06/2014
52,20
636 000
(60 000)
576 000
03/11/2014
52,20
84 000
–
–
84 000
26/08/2015
41,94
–
654 000
(90 000)
564 000
720 000
654 000
(150 000)
1 224 000
Offer date
Offer
price
R
Balance at the
beginning
of the year
Exercised/
forfeited
during the year
Change in
Executive
Committee
composition
Balance
at the end
of the year
Phantom
04/01/2010
51,12
71 524
(66 214)
(5 310)
–
03/01/2011
62,29
96 291
–
(14 773)
81 518
26/09/2011
60,38
29 811
–
–
29 811
03/01/2012
60,15
144 233
–
(19 000)
125 233
09/01/2012
60,15
14 963
–
–
14 963
01/05/2012
60,70
42 834
–
–
42 834
01/10/2012
59,56
26 666
–
–
26 666
02/01/2013
53,52
267 439
–
(31 177)
236 262
02/05/2013
60,55
79 273
–
–
79 273
773 034
(66 214)
(70 260)
636 560
Details of options exercised by key management are as follows:
Offer date
Offer
price
R
Weighted
average
exercise price
R
Number
of
options
Gain realised
on exercising
of options
(1)
R
2016
Phantom
04/01/2010 51,12
53,67
13 855
35 283
2015
Phantom
22/01/2008
34,69
70,67
20 329
731 437
01/10/2008
34,78
58,18
88 771
2 077 268
02/01/2009
33,38
58,18
104 801
2 598 701
04/01/2010
51,12
58,56
45 481
338 155
259 382
5 745 561
(1)
Amounts shown before taxation
The following charges were expensed in the statement of comprehensive income during the year under review, in terms of IFRS 2
(2)
:
2016
2015
R’000
R’000
Total
4 066
2 955
(2)
The value of options granted is the annual expense in accordance with IFRS 2, and is presented for information purposes only, as it is not regarded as constituting remuneration, given
that the value is neither received by nor accrued to the employee.
FIVE
SIX
THREE
ONE
FOUR
TWO
OUR GOVERNANCE
(continued)
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Integrated Report 2016