CSL Ltd Annual Report 2020

CSL Limited Annual Report 2020 112 Notes to the Financial Statements Outstanding share-based payment equity instruments The number and weighted average exercise price for each share-based payment scheme outstanding is as follows. All schemes are settled by physical delivery of shares except for instruments granted to good leavers from 2012 onwards, which may be settled in cash at the discretion of the company. Options Performance Rights Number Weighted average exercise price Number Weighted average exercise price Outstanding at the beginning of the year 615,840 A$97.83 422,448 A$0.00 Granted during the year – A$0.00 – A$0.00 Exercised during the year 299,078 A$89.52 151,486 A$0.00 Cash settled during the year – A$0.00 2,297 A$0.00 Forfeited during the year 8,576 A$0.00 57,301 A$0.00 GESP True-up 1 – A$0.00 – A$0.00 Closing balance at the end of the year 308,188 A$105.63 211,364 A$0.00 Exercisable at the end of the year 28,245 A$89.52 2,590 A$0.00 The share price at the dates of exercise (expressed as a weighted average) by equity instrument type, is as follows: 2020 2019 Options A$243.87 A$215.88 Performance Rights A$243.73 A$209.97 RGP A$248.01 A$227.29 EPA A$239.85 A$229.43 GESP A$276.35 A$204.39 Cash-settled share-based payments expense The Group did not grant any notional shares related to the Executive Deferred Incentive Plan (EDIP) plan in the current fiscal year as this plan has been replaced with other equity-based schemes as previously disclosed. All cash settlements ceased after 30 September 2019 and the EDIP ceased to operate. The amount of the cash payment was determined by reference to the CSL share price immediately before the award maturity date. The October 2016 EDIP grant, which is the final EDIP grant and payment, vested during the period ended 30 June 2020 and an amount of $37.6mwas paid to participants (2019: $30.1m). 1 The exercise price at which GESP plan shares are issued is calculated at a 15% discount of the five day VWAP up to and including the lower of the ASX market price on the first and last dates of the contribution period. Accordingly, the exercise price and the final number of shares to be issued is not yet known (and may differ from the assumptions and fair values disclosed above). The number of shares which may ultimately be issued from entitlements granted on 1 March 2020 has been estimated based on information available as at 30 June 2020. * Forfeitures as a result of Director retirement. # As noted in Note 18 Non-Executive Directors pay a portion of their pre-tax base fee in return for the grant of rights under his Plan.