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178

NOTES TO THE
FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2015

20 Operating Expenses (continued)

20.2.2 Share-based Payments (continued)

StarHub Restricted Stock Plans
Under the StarHub RSP and StarHub RSP Plan 2014 (collectively the “StarHub Restricted Stock Plans”), awards granted vest

only after the satisfactory completion of time-based service conditions (time-based restricted awards) or where the award is
performance-related after a further period of service beyond the performance targets completion date (performance-based
restricted awards).

During the financial year ended 31 December 2015, the conditional grants of 2,432,200 (2014: 2,517,900) shares under the
StarHub Restricted Stock Plans were made to non-executive directors and 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.

During the financial year ended 31 December 2015, 128,900 (2014: 127,300) shares under the StarHub Restricted Stock
Plans were vested and delivered to certain non-executive directors of the Company as part of their non-executive directors’
remuneration, without any performance or vesting conditions attached.

The movements of the number of shares under the StarHub Restricted Stock Plans, the fair values of the grant at measurement
date and the assumptions of the fair value model for the grants of the Company are as follows:

2015 Balance Number of Number of Number of Balance
Date of grant outstanding at restricted shares restricted shares restricted shares outstanding at

25 May 2012 1.1.2015 granted vested forfeited 31.12.2015
31 May 2013 ’000 ’000 ’000 ’000 ’000
10 March 2014
16 March 2015 912 – (912) – –
3 June 2015 1,407 – (699) (16) 692
8 July 2015 2,454 – (99) 2,340
Total 2,271 (15) 2,266
– 129 – (5)
– 32 (16) –
– 2,432 (113) 32
4,773 – – 5,330
(136)
(1,739)

2014 Balance Number of Number of Number of Balance
Date of grant outstanding at restricted shares restricted shares restricted shares outstanding at

17 May 2010 1.1.2014 granted vested forfeited 31.12.2014
31 March 2011 ’000 ’000 ’000 ’000 ’000
25 May 2012
31 May 2013 474 – (472) (2) –
10 March 2014 849 – (849) – –
14 May 2014 1,877 – (936) (29) 912
Total 1,459 – (52) 1,407
2,518 – (64) 2,454
– 127 – (16) –
– 2,645 (111) (163) 4,773
4,659 (2,368)