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NOTES TO THE GROUP FINANCIAL STATEMENTS continued
34. SHARE INCENTIVE SCHEMES (continued)
(iv) Deferred bonus plan
DBP shares are Sun International Limited shares acquired by senior executives with a portion of their declared annual bonus and entitle
the participant to receive a matching award (an equal number of Sun International Limited shares as acquired) at the end of a three-year
period. The matching award is conditional on continued employment and the DBP shares being held by the participant at the end of the
three-year period.
Movements in the number of matching awards outstanding are as follows:
Number
of grants
2010 2009
Weighted
average
grant price
R
Number
of grants
Weighted
average
grant price
R
Balance at beginning of year 154 066 105.97 88 226 118.96
Lapsed – termination of employment (2 506) 91.11 (2 218) 127.01
Granted 59 433 91.49 68 058 89.81
Balance at end of year 210 993 102.07 154 066 105.97
DBP shares held at the end of the year entitle participants
to matching awards in the following years:
Year ending on 30 June
2010 – – 48 683 95.14
2011 37 325 149.56 37 325 149.56
2012 67 479 89.81 68 058 89.81
2013 57 506 91.49 – –
(v) Restricted share plan
RSP shares are Sun International Limited shares granted to key staff in return for continuing employment with the group. The shares will
be forfeited and any dividends received on the shares will be repayable should the employee leave the group prior to the expiry of the
vesting period. The vesting period is either 3 or 5 years. In the case of a three-year award, 100% of the shares awarded will vest after
3 years and in the case of the five-year award, 50% vests after 3 years, 25% after 4 years and the remaining 25% after 5 years.
Movement in the number of shares outstanding are as follows:
Number
of grants
2010 2009
Weighted
average
grant price
R
Number
of grants
Weighted
average
grant price
R
Balance at beginning of year 835 409 94.35 – –
Granted during the year 16 000 89.96 835 409 94.35
Lapsed (27 756) 94.35 – –
Balance at end of year 823 653 94.23 835 409 94.35
Share grants outstanding at the end of the year
vest in the following years, subject to fulfilment of
employ ment conditions:
Year ending on 30 June
2012 503 726 94.35 519 832 94.35
2013 167 964 93.93 157 789 94.35
2014 151 963 94.35 157 789 94.35
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