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176

NOTES TO THE
FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2015

20 Operating Expenses (continued)

20.2.2 Share-based Payments

StarHub Share Option Plan
At 31 December 2015, there are no share options outstanding under the StarHub Share Option Plan 2004. The last exercisable

date of the options granted under the StarHub Share Option Plan 2004 was 30 May 2015, and all outstanding unexercised
options granted under this plan had lapsed on 30 May 2015.

Weighted average

Number of share options exercise price per share

2015 2014 2015 2014

Company ’000 ’000 $$

Outstanding at beginning of year 234 819 1.52 1.35
Exercised (176) (499) 1.52 1.33
Forfeited 1.52 1.01
Outstanding at end of year (58) (86) 1.52
– 234 –

Exercisable at end of year – 234 – 1.52

Options were exercised throughout the year. The weighted average share price during the year was $3.95 per share (2014: $4.15
per share).

The share options have the following exercise price:

Company 2015 2014
$ $
Exercise price:
$1.52 – 234
Outstanding at end of year – 234

Weighted average remaining contractual life – 0.41 year

StarHub Performance Share Plans
Under the StarHub PSP and the StarHub PSP 2014 (collectively the “StarHub Performance Share Plans”), conditional awards

of shares are granted. Awards represent the right of a participant to receive fully paid shares, their equivalent cash value or
combinations thereof, free of charge, upon the participant achieving prescribed performance targets set based on medium-
term corporate objectives. Awards are released once the Company’s Executive Resource and Compensation Committee is
satisfied that the prescribed performance targets have been achieved. There are no vesting periods beyond the performance
achievement periods.

During the financial year ended 31 December 2015, the conditional grants of 534,700 (2014: 645,100) shares under the
StarHub Performance Share Plans were made to the key employees of the Group. These represent the number of shares
to be delivered when performance targets at “on-target” level are achieved, or as the case may be, when the time-based
service conditions are completed.