| Disclosure of restricted stocks units |
The following table presents a summary of outstanding TELUS Corporation non-vested restricted share units.
|
|
|
|
|
|
|
|
|
June 30,
|
|
December 31,
|
|
Number of non-vested restricted share units as at
|
|
2019
|
|
2018
|
|
Restricted share units without market performance conditions
|
|
|
|
|
|
Restricted share units with only service conditions
|
|
2,920,895
|
|
3,037,881
|
|
Notional subset affected by total customer connections performance condition
|
|
159,264
|
|
155,639
|
|
|
|
3,080,159
|
|
3,193,520
|
|
Restricted share units with market performance conditions
|
|
|
|
|
|
Notional subset affected by relative total shareholder return performance condition
|
|
477,791
|
|
466,917
|
|
|
|
3,557,950
|
|
3,660,437
|
The following table presents a summary of the activity related to TELUS Corporation restricted share units without market performance conditions.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months
|
|
Six months
|
|
|
|
|
|
|
|
Weighted
|
|
|
|
|
|
Weighted
|
|
|
|
Number of restricted
|
|
average
|
|
Number of restricted
|
|
average
|
|
|
|
share units 1
|
|
grant-date
|
|
share units 1
|
|
grant-date
|
|
Periods ended June 30, 2019
|
|
Non-vested
|
|
Vested
|
|
fair value
|
|
Non-vested
|
|
Vested
|
|
fair value
|
|
Outstanding, beginning of period
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-vested
|
|
3,096,260
|
|
—
|
|
$
|
44.86
|
|
3,193,520
|
|
—
|
|
$
|
44.85
|
|
Vested
|
|
—
|
|
6,472
|
|
$
|
44.45
|
|
—
|
|
63,383
|
|
$
|
44.89
|
|
Issued
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Initial award 2
|
|
—
|
|
—
|
|
$
|
—
|
|
2,222
|
|
—
|
|
$
|
45.03
|
|
In lieu of dividends
|
|
34,109
|
|
68
|
|
$
|
49.31
|
|
73,189
|
|
148
|
|
$
|
47.02
|
|
Vested
|
|
(9,513)
|
|
9,513
|
|
$
|
44.64
|
|
(104,800)
|
|
104,800
|
|
$
|
43.98
|
|
Settled in cash
|
|
—
|
|
(9,900)
|
|
$
|
44.63
|
|
—
|
|
(162,178)
|
|
$
|
44.02
|
|
Forfeited and cancelled
|
|
(40,697)
|
|
—
|
|
$
|
44.89
|
|
(83,972)
|
|
—
|
|
$
|
44.87
|
|
Outstanding, end of period
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-vested
|
|
3,080,159
|
|
—
|
|
$
|
44.86
|
|
3,080,159
|
|
—
|
|
$
|
44.86
|
|
Vested
|
|
—
|
|
6,153
|
|
$
|
44.47
|
|
—
|
|
6,153
|
|
$
|
44.47
|
|
(1)
| |
Excluding the notional subset of restricted share units affected by the relative total shareholder return performance condition. |
|
(2)
| |
Awards in 2019 are largely expected to be made during the three-month period ending September 30, 2019. |
With respect to certain issuances of TELUS Corporation restricted share units, we have entered into cash-settled equity forward agreements that fix our cost; that information, as well as a schedule of non-vested TELUS Corporation restricted share units outstanding as at June 30, 2019, is set out in the following table.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of
|
|
|
|
|
Number of
|
|
Total number of
|
|
|
|
fixed-cost
|
|
Our fixed cost
|
|
variable-cost
|
|
non-vested
|
|
|
|
restricted
|
|
per restricted
|
|
restricted share
|
|
restricted share
|
|
Vesting in years ending December 31
|
|
share units
|
|
share unit
|
|
units
|
|
units 1
|
|
2019
|
|
1,439,418
|
|
$
|
45.53
|
|
130,211
|
|
1,569,629
|
|
2020
|
|
1,369,272
|
|
$
|
48.71
|
|
350,364
|
|
1,719,636
|
|
|
|
2,808,690
|
|
|
|
|
480,575
|
|
3,289,265
|
|
(1)
| |
Excluding the notional subset of restricted share units affected by the relative total shareholder return performance condition vesting in the years ending December 31, 2019. |
|
| Disclosure of restricted stocks units |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months
|
|
Six months
|
|
|
|
US$ denominated
|
|
Canadian $ denominated
|
|
US$ denominated
|
|
Canadian $ denominated
|
|
|
|
Number of
|
|
Weighted
|
|
Number of
|
|
Weighted
|
|
Number of
|
|
Weighted
|
|
Number of
|
|
Weighted
|
|
|
|
non-vested
|
|
average
|
|
vested
|
|
average
|
|
non-vested
|
|
average
|
|
vested
|
|
average
|
|
|
|
restricted
|
|
grant-date
|
|
restricted
|
|
grant-date
|
|
restricted
|
|
grant-date
|
|
restricted
|
|
grant-date
|
|
Periods ended June 30, 2019
|
|
share units
|
|
fair value
|
|
share units
|
|
fair value
|
|
share units
|
|
fair value
|
|
share units
|
|
fair value
|
|
Outstanding, beginning of period
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-vested
|
|
554,625
|
|
US$
|
25.67
|
|
—
|
|
$
|
—
|
|
561,712
|
|
US$
|
25.68
|
|
—
|
|
$
|
—
|
|
Vested
|
|
—
|
|
US$
|
—
|
|
—
|
|
$
|
—
|
|
—
|
|
US$
|
—
|
|
32,299
|
|
$
|
21.36
|
|
Issued
|
|
92,355
|
|
US$
|
27.81
|
|
—
|
|
$
|
—
|
|
92,355
|
|
US$
|
27.81
|
|
—
|
|
$
|
—
|
|
Exercised
|
|
—
|
|
US$
|
—
|
|
—
|
|
$
|
—
|
|
—
|
|
US$
|
—
|
|
(32,299)
|
|
$
|
21.36
|
|
Forfeited and cancelled
|
|
(1,387)
|
|
US$
|
26.34
|
|
—
|
|
$
|
—
|
|
(8,474)
|
|
US$
|
26.51
|
|
—
|
|
$
|
—
|
|
Outstanding, end of period
|
|
645,593
|
|
US$
|
25.98
|
|
—
|
|
$
|
—
|
|
645,593
|
|
US$
|
25.98
|
|
—
|
|
$
|
—
|
|
| Disclosure of stock options |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months
|
|
Six months
|
|
|
|
Number of
|
|
Weighted
|
|
Number of
|
|
Weighted
|
|
|
|
share
|
|
average share
|
|
share
|
|
average share
|
|
Periods ended June 30, 2019
|
|
options
|
|
option price
|
|
options
|
|
option price
|
|
Outstanding, beginning of period
|
|
196,800
|
|
$
|
29.21
|
|
326,164
|
|
$
|
29.22
|
|
Exercised 1
|
|
(191,822)
|
|
$
|
29.17
|
|
(320,958)
|
|
$
|
29.20
|
|
Forfeited
|
|
(228)
|
|
$
|
29.18
|
|
(456)
|
|
$
|
29.18
|
|
Expired
|
|
(2,260)
|
|
$
|
29.18
|
|
(2,260)
|
|
$
|
29.18
|
|
Outstanding, end of period 2
|
|
2,490
|
|
$
|
31.69
|
|
2,490
|
|
$
|
31.69
|
|
(1)
| |
The total intrinsic value of share option awards exercised for the three-month and six-month periods ended June 30, 2019, was $4 million and $6 million, respectively, reflecting weighted average prices at the dates of exercise of $49.59 per share and $48.89 per share, respectively. The difference between the number of share options exercised and the number of Common Shares issued (as reflected in the Consolidated statements of changes in owners’ equity) is the effect of our choosing to settle share option award exercises using the net-equity settlement feature. |
|
(2)
| |
All outstanding TELUS Corporation share options are vested, their price is $31.69 per share and their weighted average remaining contractual life is 0.1 year. |
|