BROADENING OUR HORIZONS - Arrium

Notes to the Financial StatementsThe following table illustrates the number and weighted average exercise price of and movement in the Executive Option Plan:Number‘000s2011 2010Weightedaverageexercise price$Weightedaverage shareprice at dateof exercise$Number‘000sWeightedaverageexercise price$Weightedaverage shareprice at dateof exercise$Outstanding at the beginning of the year 160 1.0434 — 305 1.0099 —Exercised during the period (160) 1.0434 2.84 (145) 0.9665 3.35Outstanding and exercisable at the endof the year — — — 160 1.0434 —111All options within this balance have not been recognised in accordance with AASB 2 as the options were granted on or before 1 November2002. These options have not been subsequently modified therefore do not need to be accounted for in accordance with AASB 2.Steel & Tube Holdings LimitedIn 2011, 197,700 shares (2010: nil) were purchased whilst nil shares (2010: 30,830 shares) were vested in the employee share purchasescheme and 223,528 shares (2010: nil) were purchased and nil shares (2010: 18,805 shares) were vested in the executive share plan. Bothschemes have a vesting period of a minimum of three years from grant date. The employee share scheme provides financial assistance,to a maximum of $2,340 in any three-year period, to eligible employees to purchase Company shares. Rights to shares in the executiveshare scheme vest upon achieving Board approved targets based on total shareholder returns.30. Key management personnel disclosures(a) Details of Key Management PersonnelDirectorsL G Cox Director (Independent, non-executive) (retired 15 November 2010)R B Davis Director (Independent, non-executive)E J Doyle Director (Independent, non-executive) (retired 15 November 2010)C R Galbraith, AM Director (Independent, non-executive)P G Nankervis Director (Independent, non-executive)G J Plummer Managing Director and Chief Executive OfficerD A Pritchard Director (Independent, non-executive)P J Smedley Chairman (Independent, non-executive)G J Smorgon Director (Independent, non-executive)R Warnock Director (Independent, non-executive) (appointed 1 September 2010)ExecutivesR C BakewellS H HamerM R ParryA G RobertsL J SelleckG A WatersD TaylorChief Financial OfficerChief Executive, DistributionChief Executive, WhyallaChief Executive, Mining ConsumablesChief Executive, Market MillsChief Executive, RecyclingChief Executive Officer, Steel & Tube Holdings LimitedCompensation of Key Management PersonnelCONSOLIDATED2011$2010$Short-term benefits 9,555,119 10,952,331Post-employment benefits 398,833 380,213Termination benefits — 763,545Share-based payments 2,473,806 2,606,38512,427,758 14,702,474The Company has applied the exemption under Corporations Regulation 2M.3.03 which relieves listed companies from providing detailedremuneration disclosures in relation to their key management personnel in their annual financial reports by Accounting Standard AASB124 “Related Party Disclosures”. These remuneration disclosures are provided in the Remuneration Report section of the Directors’Report which has been audited.