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Hyprop Investments Limited
Integrated annual report and consolidated financial statements
2017
127
25.
Employee remuneration
continued
Unvested share allocations by tranche
Performance
shares
Retention
shares
Tranche 1
Grant date
1 January 2014
Vesting period ends
31 December 2018
Fair value of shares at grant date
R54,77
Share price at grant date
R76,50
The inputs used in the measurement of the fair value at grant date were as follows:
Expected life
5 years
Risk-free rate after taxation
5,8%
Dividend yield (historic)
5,8%
Tranche 1 of the performance shares vested during the current financial year at a fair value of R123,46 per share.
Tranche 2
Grant date
1 July 2014
1 July 2014
Vesting period ends
30 June 2017
30 June 2019
Fair value of shares at grant date
R65,55
R58,12
Share price at grant date
R79,51
R79,51
The inputs used in the measurement of the fair value at grant date were as follows:
Expected life
3 years
5 years
Risk-free rate after taxation
5,9%
5,9%
Dividend yield (historic)
6,0%
6,0%
Tranche 3
Grant date
1 July 2015
1 July 2015
Vesting period ends
30 June 2018
30 June 2020
Fair value of shares at grant date
R105,76
R96,68
Share price at grant date
R121,00
R121,00
The inputs used in the measurement of the fair value at grant date were as follows:
Expected life
3 years
5 years
Risk-free rate after taxation
6,0%
6,0%
Dividend yield (historic)
4,5%
4,5%
Tranche 4
Grant date
1 July 2016
1 July 2016
Vesting period ends
30 June 2019
30 June 2021
Fair value of shares at grant date
R112,56
R102,32
Share price at grant date
R129,89
R129,89
The inputs used in the measurement of the fair value at grant date were as follows:
Expected life
3 years
5 years
Risk-free rate after taxation
6,3%
6,3%
Dividend yield (historic)
4,8%
4,8%
Tranche 5
Grant date
1 January 2017
1 January 2017
Vesting period ends
31 December 2019 31 December 2021
Fair value of shares at grant date
R100,11
R90,07
Share price at grant date
R117,31
R117,31
The inputs used in the measurement of the fair value at grant date were as follows:
Expected life
3 years
5 years
Risk-free rate after taxation
6,4%
6,4%
Dividend yield (historic)
5,3%
5,3%