Directors’ Report 6.3 LTI Outcomes by Executive KMP in 2022 6.3.1 LTI Awards Tested in 2022 In 2022, in the course of annual performance testing, five LTI grants were tested. The table below shows the performance of CSL against the targets with vesting occurring in September 2021 and March 2022. 4 The remaining 31.67% of this tranche has lapsed – there is no retest. 5 The remaining 31.67% of this tranche has lapsed – there is no retest. 6 T he grant date of PSUs granted to P Perreault was 13 October 2021. Shareholder approval for the grant of PSUs and any shares to be issued at the time of vesting, was obtained under ASX Listing Rule 10.14 at the 2021 Annual General Meeting. Table 5: LTI Awards Tested in 2022 Grant Date Security Tranche Performance Period Exercise Price A$ Performance Outcome Vesting Outcome 1 October 2017 PSU 4 1 July 2014 – 30 June 2021 – Seven year ROIC at 25.1% 68.33%4 1 September 2018 PSU 3 1 July 2014 – 30 June 2021 – Seven year ROIC at 25.1% 68.33%5 1 September 2019 PSU 2 1 July 2014 – 30 June 2021 – Seven year ROIC at 25.1% 100% 1 September 2020 PSU 1 1 July 2014 – 30 June 2021 – Seven year ROIC at 25.1% 100% 1 April 2021 PSU 1 1 July 2014 – 30 June 2021 – Seven year ROIC at 25.1% 100% 1 April 2021 RSU 1 1 April 2021 – 1 March 2022 – Individual performance 100% 6.3.2 Fair Value of Awards Granted, Vested and Lapsed Equity in 2022 The table below details the fair value at the date of grant for all awards granted6, vested and lapsed in 2022. The values are shown in Australian Dollars (A$). Table 6: Grant Fair Value Security Tranche Grant Date Vest/Lapse Date Expiry Date Fair Value at Grant A$ PSU 4 1 Oct 2017 1 Sep 2021 1 Oct 2024 124.60 PSU 3 1 Sep 2018 1 Sep 2021 1 Oct 2024 219.41 PSU 4 1 Sep 2018 1 Oct 2021 1 Oct 2024 216.13 PSU 2 1 Sep 2019 1 Sep 2021 1 Oct 2029 230.50 PSU 3 1 Sep 2019 1 Oct 2021 1 Oct 2029 228.14 PSU 4 1 Sep 2019 1 Oct 2021 1 Oct 2029 225.80 PSU 1 1 Sep 2020 1 Sep 2021 1 Sep 2025 287.79 PSU 1 1 Apr 2021 1 Sep 2021 1 Apr 2026 265.48 PSU 1 1 Sep 2021 1 Sep 2024 1 Sep 2026 302.44 PSU 2 1 Sep 2021 1 Sep 2024 1 Sep 2026 302.44 Restricted Share Unit (RSU) 1 1 Apr 2021 1 Sep 2021 1 Apr 2026 265.48 RSU 2 1 Apr 2021 1 Mar 2022 1 Apr 2026 264.08 6.3.3 Summary of Executive KMP Granted, Vested and Lapsed Equity in 2022 The table below summarises the details of equity awards granted, vested and lapsed in US Dollars (US$) for each Executive KMP. For awards granted, the maximum number of securities that may vest is shown. For accounting purposes, the maximum value of each grant is the fair value of the equity granted multiplied by the number of equity instruments granted, or remaining each year. Ultimately, the maximum value of the equity awards will be equal to the number of securities granted multiplied by the CSL share price at the time of vesting. The minimum number of securities and the value of the equity awards is zero if the equity award is fully lapsed. Details of the performance and service criteria applying to awards granted in prior years are summarised in section 11 and prior Remuneration Reports corresponding to the reporting period in which the awards were granted. The April 2021 grants were awarded to Ms Linton as a commencement benefit, providing a more competitive reward offering and compensating for a pro-rata portion of the loss of cash settled LTI awards held by Ms Linton at her cessation of employment with Bupa. Further detail is disclosed in the 2021 Remuneration Report. CSL Limited Annual Report 2021/22 84
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