|
Stock-Based Compensation (Tables)
|
12 Months Ended |
|
Mar. 31, 2013
|
| Summary of Stock Options Available for Grant and Outstanding Options Activity |
The following table summarises the
Company’s shares available for grant as options, restricted
stock units or other equity instruments under the LTIP and 2001
Equity Incentive Plan at 31 March 2013, 2012 and
2011:
|
|
|
|
|
| |
|
Shares
Available for
Grant |
|
|
Balance at 31 March
2011
|
|
|
26,588,283 |
|
|
|
|
|
|
|
Granted
|
|
|
(1,303,209 |
) |
|
Forfeited
|
|
|
- |
|
|
Forfeitures available for
re-grant
|
|
|
410,914 |
|
|
|
|
|
|
|
Balance at 31 March
2012
|
|
|
25,695,988 |
|
|
|
|
|
|
|
|
|
Granted
|
|
|
(1,415,605 |
) |
|
Forfeited
|
|
|
- |
|
|
Forfeitures available for
re-grant
|
|
|
223,400 |
|
|
|
|
|
|
|
Balance at 31 March
2013
|
|
|
24,503,783 |
|
|
|
|
|
|
Stock Options
There were no stock options granted
during the years ended 31 March 2013, 2012 and 2011. The
following table summarises the Company’s stock options
activity during the noted period:
|
|
|
|
|
|
|
|
|
| |
|
Outstanding Options |
|
| |
|
Number |
|
|
Weighted
Average
Exercise
Price (A$) |
|
|
Balance at 31 March
2011
|
|
|
11,355,295 |
|
|
|
7.40 |
|
|
|
|
|
|
|
|
|
|
|
Exercised
|
|
|
(1,682,841) |
|
|
|
6.25 |
|
|
Forfeited
|
|
|
(587,314) |
|
|
|
7.76 |
|
|
Forfeitures available for
re-grant
|
|
|
– |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance at 31 March
2012
|
|
|
9,085,140 |
|
|
|
7.59 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Exercised
|
|
|
(3,622,106) |
|
|
|
7.01 |
|
|
Forfeited
|
|
|
(306,898) |
|
|
|
8.56 |
|
|
Forfeitures available for
re-grant
|
|
|
– |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance at 31 March
2013
|
|
|
5,156,136 |
|
|
|
7.94 |
|
|
|
|
|
|
|
|
|
|
|
| Outstanding and Exercisable Options under 2001 Equity Incentive Plan and Long-Term Incentive Plan |
The following table summarises
outstanding and exercisable options under both the 2001 Equity
Incentive Plan and the LTIP as of 31 March 2013:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Options Outstanding and Exercisable |
| Number |
|
|
|
|
Weighted
Average
Remaining
Life (in Years) |
|
|
Weighted
Average
Exercise
Price (A$) |
|
|
Aggregate
Intrinsic
Value (A$) |
|
|
|
| |
285,750 |
|
|
|
|
|
1.7 |
|
|
|
5.99 |
|
|
|
1,148,715 |
|
|
|
| |
93,000 |
|
|
|
|
|
1.9 |
|
|
|
6.30 |
|
|
|
345,030 |
|
|
|
| |
624,254 |
|
|
|
|
|
4.7 |
|
|
|
6.38 |
|
|
|
2,266,042 |
|
|
|
| |
298,000 |
|
|
|
|
|
0.7 |
|
|
|
7.05 |
|
|
|
882,080 |
|
|
|
| |
932,502 |
|
|
|
|
|
4.4 |
|
|
|
7.83 |
|
|
|
2,032,854 |
|
|
|
| |
1,515,530 |
|
|
|
|
|
3.6 |
|
|
|
8.40 |
|
|
|
2,440,003 |
|
|
|
| |
1,392,100 |
|
|
|
|
|
2.7 |
|
|
|
8.90 |
|
|
|
1,545,231 |
|
|
|
| |
15,000 |
|
|
|
|
|
2.9 |
|
|
|
9.50 |
|
|
|
7,650 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
5,156,136 |
|
|
|
|
|
3.3 |
|
|
|
7.94 |
|
|
|
10,667,605 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Restricted Stock Activity |
The following table summarises the
Company’s restricted stock activity during the noted
period:
|
|
|
|
|
|
|
|
|
|
|
| |
|
Shares |
|
|
|
|
Weighted
Average Fair
Value at Grant
Date (US$) |
|
|
Non-vested at 31 March
2011
|
|
|
5,112,095 |
|
|
|
|
|
4.52 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Granted
|
|
|
1,303,209 |
|
|
|
|
|
4.92 |
|
|
Vested
|
|
|
(2,527,601 |
) |
|
|
|
|
3.13 |
|
|
Forfeited
|
|
|
(210,192 |
) |
|
|
|
|
5.35 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-vested at 31 March
2012
|
|
|
3,677,511 |
|
|
|
|
|
5.57 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Granted
|
|
|
1,415,605 |
|
|
|
|
|
8.41 |
|
|
Vested
|
|
|
(846,415 |
) |
|
|
|
|
7.13 |
|
|
Forfeited
|
|
|
(242,333 |
) |
|
|
|
|
5.96 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-vested at 31 March
2013
|
|
|
4,004,368 |
|
|
|
|
|
6.13 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Assumptions Used for Restricted Stock Grants |
The following table includes the
assumptions used for restricted stock grants (market condition)
valued during the years ended 31 March 2013 and
2012:
|
|
|
|
|
|
|
|
|
|
Date of grant
|
|
|
14 Sep 2012 |
|
|
|
15 Sep 2011 |
|
|
Dividend yield (per annum)
|
|
|
1.5% |
|
|
|
2.0% |
|
|
Expected volatility
|
|
|
52.2% |
|
|
|
51.9% |
|
|
Risk free interest rate
|
|
|
0.7% |
|
|
|
1.0% |
|
|
Expected life in years
|
|
|
3.0 |
|
|
|
3.0 |
|
|
JHX stock price at grant date
(A$)
|
|
|
8.95 |
|
|
|
5.64 |
|
|
Number of restricted stock
units
|
|
|
432,654 |
|
|
|
954,705 |
|
|