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Employee share ownership plans (Tables) | 12 Months Ended
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Jun. 30, 2018
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Summary of Description of Plans | The table below provides a description of each of the plans.
Plan |  | STIP and GSTIP |  | LTIP and MAP |  | Transitional Executive KMP awards |  | Shareplus
Type |  | Short-term incentive |  | Long-term incentive |  | Long-term incentive |  | All-employee share purchase plan
Overview |  | The STIP is a plan for the Executive KMP and the GSTIP is a plan for BHP senior management who are not KMP. Under both plans, half of the value of a participant’s short-term incentive amount is awarded as rights to receive BHP Billiton Limited or BHP Billiton Plc shares at the end of the vesting period. |  | The LTIP is a plan for Executive KMP and awards are granted annually. The MAP is a plan for BHP senior management who are not KMP. The number of share rights awarded is determined by a participant’s role and grade. |  | Awards may be granted to new Executive KMP recruited from within the Group to bridge the gap created by the different timeframes of the vesting of MAP awards, granted in their non-KMP role, and LTIP awards, granted to Executive KMP. No Transitional awards were granted to Executive KMP in FY2018. |  | Employees may contribute up to US$5,000 to acquire shares in any plan year. On the third anniversary of the start of a plan year, the Group will match the number of acquired shares.
Vesting conditions |  | Service condition only. |  | LTIP: Service and performance conditions. For awards granted from December 2013 onwards, BHP’s Total Shareholder Return (TSR)(1) performance relative to the Peer Group TSR over a five-year performance period determines the vesting of 67 per cent of the awards, while performance relative to the Index TSR (being the index value where the comparator group is a market index) determines the vesting of 33 per cent of the awards. For the awards to vest in full, BHP’s TSR(1) must exceed the Peer Group TSR and Index TSR (if applicable) by a specified percentage per year, determined for each grant by the Remuneration Committee. Since the establishment of the LTIP in 2004, this percentage has been set at 5.5 per cent per year. MAP: Service conditions only. |  | Service conditions and performance conditions. The Remuneration Committee has absolute discretion to determine if the performance condition has been met and whether any, all or part of the award will vest (or otherwise lapse), having regard to (but not limited to) the BHP’s TSR(1) over the three- or four-year performance period (respectively), the participant’s contribution to Group outcomes and the participant’s personal performance (with guidance on this assessment from the CEO). |  | Service conditions only.
Vesting period |  | 2 years |  | LTIP – 5 years MAP – 1 to 5 years |  | 3 years or 4 years |  | 3 years
Dividend Equivalent Payment |  | Yes, except GSTIP awards granted after 1 July 2011 |  | Yes, except MAP granted after 1 July 2011 |  | No |  | No
Exercise period |  | None |  | LTIP – None MAP – None |  | None |  | None
(1) | BHP’s TSR is the weighted average of the TSRs of BHP Billiton Limited and BHP Billiton Plc.
Summary of Employee Share Awards | Employee share awards
2018 |  | Number of awards at the beginning of the financial year |  |  | Number of awards issued during the year |  |  | Number of awards vested and exercised |  |  | Number of awards lapsed |  |  | Number of awards at the end of the financial year |  |  | Number of awards vested and exercisable at the end of the financial year |  |  | Weighted average remaining contractual life (years) |
BHP Billiton Limited |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
STIP awards |  |  | 497,634 |  |  |  | 274,743 |  |  |  | 464,349 |  |  |  | – |  |  |  | 308,028 |  |  |  | – |  |  |  | 1.0 |
GSTIP awards |  |  | 2,001,583 |  |  |  | 1,422,338 |  |  |  | 1,383,656 |  |  |  | 31,810 |  |  |  | 2,008,455 |  |  |  | 28,981 |  |  |  | 0.8 |
LTIP awards |  |  | 4,679,513 |  |  |  | 1,523,309 |  |  |  | 65,247 |  |  |  | 156,600 |  |  |  | 5,980,975 |  |  |  | – |  |  |  | 2.5 |
Transitional OMC awards |  |  | 137,194 |  |  |  | – |  |  |  | 61,485 |  |  |  | 28,869 |  |  |  | 46,840 |  |  |  | – |  |  |  | 0.7 |
MAP awards |  |  | 7,348,428 |  |  |  | 5,731,891 |  |  |  | 2,185,614 |  |  |  | 515,442 |  |  |  | 10,379,263 |  |  |  | 60,134 |  |  |  | 1.5 |
Shareplus |  |  | 5,998,517 |  |  |  | 2,483,091 |  |  |  | 3,184,545 |  |  |  | 521,984 |  |  |  | 4,775,079 |  |  |  | – |  |  |  | 1.2 |
Employee Share Plan shares (legacy plan) |  |  | 338,883 |  |  |  | – |  |  |  | 338,883 |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | n/a |
BHP Billiton Plc |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
GSTIP awards |  |  | 84,250 |  |  |  | 40,957 |  |  |  | 59,577 |  |  |  | 1,762 |  |  |  | 63,868 |  |  |  | – |  |  |  | 0.8 |
LTIP awards |  |  | 386,912 |  |  |  | – |  |  |  | 74,988 |  |  |  | 311,924 |  |  |  | – |  |  |  | – |  |  |  | n/a |
MAP awards |  |  | 596,443 |  |  |  | 133,926 |  |  |  | 406,783 |  |  |  | 8,135 |  |  |  | 315,451 |  |  |  | – |  |  |  | 1.3 |
Shareplus |  |  | 336,108 |  |  |  | 137,832 |  |  |  | 165,450 |  |  |  | 26,331 |  |  |  | 282,159 |  |  |  | – |  |  |  | 1.2 |
Summary of Fair Value and Assumptions in the Calculation of Fair Value for Awards Issued | Fair value and assumptions in the calculation of fair value for awards issued
2018 |  | Weighted average fair value of awards granted during the year US$ |  |  | Risk-free interest rate |  |  | Estimated life of awards |  |  | Share price at grant date |  |  | Estimated volatility of share price |  |  | Dividend yield |
BHP Billiton Limited |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
STIP awards |  |  | 20.65 |  |  |  | n/a |  |  |  | 3 years |  |  |  | A$27.97 |  |  |  | n/a |  |  |  | n/a |
GSTIP awards |  |  | 18.83 |  |  |  | n/a |  |  |  | 3 years |  |  |  | A$25.98 |  |  |  | n/a |  |  |  | 4.30 | %
LTIP awards |  |  | 13.11 |  |  |  | 2.08 | % |  |  | 5 years |  |  |  | A$27.97 |  |  |  | 33.0 | % |  |  | n/a |
MAP awards |  |  | 18.37 |  |  |  | n/a |  |  |  | 1-2-3 years |  |  |  | A$25.98 |  |  |  | n/a |  |  |  | 4.30 | %
Shareplus |  |  | 18.12 |  |  |  | 1.85 | % |  |  | 3 years |  |  |  | A$24.00 |  |  |  | n/a |  |  |  | 4.33 | %
BHP Billiton Plc |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
GSTIP awards |  |  | 16.48 |  |  |  | n/a |  |  |  | 3 years |  |  |  | £13.29 |  |  |  | n/a |  |  |  | 5.10 | %
MAP awards |  |  | 15.62 |  |  |  | n/a |  |  |  | 1-2-3 years |  |  |  | £13.29 |  |  |  | n/a |  |  |  | 5.10 | %
Shareplus |  |  | 13.48 |  |  |  | 0.17 | % |  |  | 3 years |  |  |  | £12.34 |  |  |  | n/a |  |  |  | 5.10 | %
Employee share awards expense is US$123.313 million (2017: US$106.214 million; 2016: US$140.445 million). (1)
(1) | Total employee share awards expense includes Onshore US. Refer to note 4 ‘Expenses and other income’ employee share awards for continuing operations.

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