annual report - Harvey Norman Company Reports & Announcements

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
30. Key Management Personnel (continued)
(c) Option Holdings of Key Management Personnel (Consolidated)
30 June 2012 Balance at
Beginning of
Period
104
Granted
as
Remuneration
Options
Exercised
Net Change
Other (a)
Balance at
End of
Period
Vested at 30 June 2012
Total Exercisable Not
Exercisable
Directors 01/07/2011 30/06/2012
G. Harvey - - - - - - - -
K.L. Page - - - - - - - -
J.E. Slack-Smith 1,000,000 1,000,000 - (322,000) 1,678,000 - - -
D.M. Ackery 1,000,000 1,000,000 - (322,000) 1,678,000 - - -
C. Mentis 1,000,000 1,000,000 - (322,000) 1,678,000 - - -
M.J. Harvey - - - - - - - -
C.H. Brown - - - - - - - -
I.J. Norman
K.W. Gunderson-
- - - - - - - -
Briggs
-
-
-
-
-
-
-
-
G.C. Paton
Executives
- - - - - - - -
R. Orrock - - - - - - - -
M.L. Anderson - - - - - - - -
T.J. Scott - - - - - - - -
G.I. Dingwall - - - - - - - -
3,000,000 3,000,000 - (966,000) 5,034,000 - - -
(a) Explanation of Net Change Other Column:
The Remuneration Committee assessed each component of the 2011 Critical Success Factors to determine whether the
non-financial performance conditions of the First Tranche of Options (weighted as to 70%) were met. The Remuneration
Committee had regard to certificates and reports from officers of the Company, other board committees and
management, and own enquires, and determined that the 2011 Critical Success Factors had been satisfied as to 54% of the
70% weighting, resulting in the resolution that 966,000 options over 966,000 shares in the First Tranche of Options had lapsed
and will never be exercisable.
30 June 2011 Balance at
Beginning of
Period
Granted
as
Remuneration
Options
Exercised
Net Change
Other (b)
Balance at
End of
Period
Vested at 30 June 2011
Total Exercisable Not
Exercisable
Directors 01/07/2010 30/06/2011
G. Harvey 900,000 - - (900,000) - - - -
K.L. Page 1,000,000 - - (1,000,000) - - - -
J.E. Slack-Smith 800,000 1,000,000 - (800,000) 1,000,000 - - -
D.M. Ackery 800,000 1,000,000 - (800,000) 1,000,000 - - -
C. Mentis 350,000 1,000,000 - (350,000) 1,000,000 - - -
M.J. Harvey - - - - - - - -
C.H. Brown - - - - - - - -
I.J. Norman
K.W. Gunderson-
- - - - - - - -
Briggs
-
-
-
-
-
-
-
-
G.C. Paton
Executives
- - - - - - - -
R. Orrock - - - - - - - -
M.L. Anderson - - - - - - - -
T.J. Scott - - - - - - - -
G.I. Dingwall - - - - - - - -
3,850,000 3,000,000 - (3,850,000) 3,000,000 - - -
(b) Explanation of Net Change Other Column:
The options pursuant to the 2007 EOP Allocation were subject to testing during each of the financials years in the qualifying
period to determine whether Performance Conditions 1 and 2 were satisfied in accordance with the terms set out in the
notice of meeting that accompanied the allocation. During each of the three financial years ending 30 June 2010, the
earnings per share hurdle was not satisfied. As this performance condition must be met in order for any of the options to
vest, the options in respect of the 2007 EOP Allocation did not vest as at 31 August 2010 and were not capable of exercise
by the participants from 1 September 2010. On 27 September 2010, the Board of the Company determined that the 2007
EOP Allocation had lapsed.