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share-based compensation (Tables) | 12 Months Ended
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Dec. 31, 2024
share-based compensation |
Schedule of share-based compensation expense | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Years ended December 31 (millions) | ​ | ​ | ​ | 2024 | ​ | 2023
​ | ​ | ​ | ​ | ​ | ​ | ​ | Associated | ​ | Statement | ​ | ​ | ​ | Associated | ​ | Statement
​ | ​ | ​ | ​ | Employee | ​ | operating | ​ | of cash | ​ | Employee | ​ | operating | ​ | of cash
​ | ​ | ​ | ​ | benefits | ​ | cash | ​ | flows | ​ | benefits | ​ | cash | ​ | flows
​ |  | Note |  | expense 1 |  | outflows |  | adjustment |  | expense |  | outflows |  | adjustment
Restricted share units | ​ | (b) | ​ | $ | 164 | ​ | $ | (14) | ​ | $ | 150 | ​ | $ | 127 | ​ | $ | (9) | ​ | $ | 118
Employee share purchase plan | ​ | (c) | ​ | ​ | 34 | ​ | ​ | (34) | ​ | ​ | — | ​ | ​ | 43 | ​ | ​ | (43) | ​ | ​ | —
Share option awards | ​ | (d) | ​ | ​ | 1 | ​ | ​ | — | ​ | ​ | 1 | ​ | ​ | 1 | ​ | ​ | (2) | ​ | ​ | (1)
​ | ​ | ​ | ​ | $ | 199 | ​ | $ | (48) | ​ | $ | 151 | ​ | $ | 171 | ​ | $ | (54) | ​ | $ | 117
TELUS technology solutions | ​ | ​ | ​ | $ | 150 | ​ | $ | (42) | ​ | $ | 108 | ​ | $ | 144 | ​ | $ | (45) | ​ | $ | 99
TELUS digital experience 2 | ​ | ​ | ​ | ​ | 49 | ​ | ​ | (6) | ​ | ​ | 43 | ​ | ​ | 27 | ​ |  | (9) | ​ |  | 18
​ | ​ | ​ | ​ | $ | 199 | ​ | $ | (48) | ​ | $ | 151 | ​ | $ | 171 | ​ | $ | (54) | ​ | $ | 117
​
1 | Within employee benefits expense (see Note 8) for the year ended December 31, 2024, restricted share units expense of $160 (2023 – $128) is presented as share-based compensation expense and the balance is included in restructuring costs (see Note 16) of the TELUS technology solutions segment.
2 | During 2024, the written put options in respect of non-controlling interests associated with the WillowTree acquisition were renegotiated, which resulted in: a change in provisions for business combinations (see Notes 7, 25); the institution of a maximum payout for the non-controlling interests associated with the WillowTree acquisition; and the awarding of share-based compensation. The expense associated with these awards was $21 for the year ended December 31, 2024.
TELUS Corporation restricted share units |
share-based compensation |
Schedule of restricted share units | ​
​ | ​ | ​ | ​ | ​
As at December 31 |  | 2024 |  | 2023
Restricted share units without market performance conditions |  |  |  | ​
Restricted share units with service conditions only |  | 6,896,228 | ​ | 5,769,038
Notional subset affected by non-market performance conditions |  | 556,308 | ​ | 429,281
​ |  | 7,452,536 | ​ | 6,198,319
Restricted share units with market performance conditions |  | ​ |  | ​
Notional subset affected by relative total shareholder return performance condition |  | 1,513,481 | ​ | 1,191,563
Number of non-vested restricted share units |  | 8,966,017 | ​ | 7,389,882
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | Weighted
​ | ​ | Number of restricted | ​ | average
​ | ​ | share units 1 | ​ | grant-date
​ |  | Non-vested |  | Vested |  | fair value
Outstanding, January 1, 2023 |  |  |  |  |  | ​ |
Non-vested | ​ | 5,581,483 | ​ | — | ​ | $ | 30.62
Vested | ​ | — | ​ | 35,819 | ​ | $ | 27.00
Granted | ​ | ​ | ​ | ​ | ​ | ​ | ​
Initial award | ​ | 3,806,458 | ​ | — | ​ | $ | 27.07
In lieu of dividends | ​ | 459,742 | ​ | 2,049 | ​ | $ | 24.98
Variable payout related | ​ | 29,244 | ​ | — | ​ | $ | 25.97
Vested | ​ | (3,090,935) |  | 3,090,935 | ​ | $ | 26.41
Settled | ​ | ​ | ​ | ​ | ​ | ​ | ​
In equity | ​ | — |  | (2,927,106) | ​ | $ | 26.35
In cash | ​ | — | ​ | (169,176) | ​ | $ | 27.19
Forfeited | ​ | (587,673) |  | — | ​ | $ | 28.37
Outstanding, December 31, 2023 | ​ | ​ |  | ​ | ​ | ​ | ​
Non-vested | ​ | 6,198,319 |  | — | ​ | $ | 28.68
Vested | ​ | — |  | 32,521 | ​ | $ | 28.97
Granted | ​ | ​ | ​ | ​ | ​ | ​ | ​
Initial award | ​ | 4,471,168 | ​ | — | ​ | $ | 23.88
In lieu of dividends | ​ | 633,807 | ​ | 2,289 | ​ | $ | 21.81
Vested | ​ | (3,207,355) | ​ | 3,207,355 | ​ | $ | 29.68
Settled | ​ | ​ | ​ | ​ | ​ | ​ | ​
In equity | ​ | — | ​ | (2,828,666) | ​ | $ | 30.05
In cash | ​ | — | ​ | (380,776) | ​ | $ | 27.18
Forfeited | ​ | (643,403) | ​ | — | ​ | $ | 26.21
Outstanding, December 31, 2024 | ​ | ​ | ​ | ​ | ​ | ​ | ​
Non-vested | ​ | 7,452,536 | ​ | — | ​ | $ | 25.03
Vested | ​ | — | ​ | 32,723 | ​ | $ | 26.17
​
1 | Excluding the notional subset of restricted share units affected by the relative total shareholder return performance condition.
TELUS International (Cda) Inc. restricted share units |
share-based compensation |
Schedule of restricted share units | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | Weighted
​ | ​ | Number of restricted | ​ | average
​ | ​ | share units | ​ | grant-date
​ |  | Non-vested |  | Vested |  | fair value
Outstanding, January 1, 2023 | ​ | 1,605,821 | ​ | — | ​ | US$ | 27.10
Granted – initial award | ​ | 1,567,809 | ​ | 770,043 | ​ | US$ | 15.34
Vested | ​ | (423,501) | ​ | 423,501 | ​ | US$ | 26.49
Settled in equity | ​ | — | ​ | (1,193,544) | ​ | US$ | 17.01
Forfeited | ​ | (134,383) | ​ | — | ​ | US$ | 23.80
Outstanding, December 31, 2023 | ​ | 2,615,746 | ​ | — | ​ | US$ | 21.36
Granted – initial award | ​ | 19,933,019 | ​ | 528,234 | ​ | US$ | 5.30
Vested | ​ | (1,187,336) | ​ | 1,187,336 | ​ | US$ | 16.85
Settled in equity | ​ | — | ​ | (1,715,570) | ​ | US$ | 12.72
Forfeited | ​ | (1,180,493) | ​ | — | ​ | US$ | 12.51
Outstanding, December 31, 2024 | ​ | 20,180,936 | ​ | — | ​ | US$ | 6.33
TELUS Corporation share options |
share-based compensation |
Schedule of stock options | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Year ended December 31 | ​ | 2024 | ​ | 2023
​ | ​ | Number of | ​ | Weighted | ​ | Number of | ​ | Weighted
​ | ​ | share | ​ | average share | ​ | share | ​ | average share
​ |  | options |  | option price 1 |  | options |  | option price
Outstanding, beginning of period | ​ | 1,778,901 | ​ | $ | 22.35 | ​ | 2,755,300 | ​ | $ | 22.05
Exercised 2 | ​ | (101,700) | ​ | $ | 21.29 | ​ | (774,899) | ​ | $ | 21.35
Forfeited |  | (157,700) | ​ | $ | 22.08 |  | (201,500) | ​ | $ | 22.11
Outstanding, end of period | ​ | 1,519,501 | ​ | $ | 22.45 | ​ | 1,778,901 | ​ | $ | 22.35
Exercisable, end of period |  | 1,519,501 | ​ | $ | 22.45 |  | 1,518,901 | ​ | $ | 21.73
​
1 | The weighted average remaining contractual life is 2.5 years.
2 | For the year ended December 31, 2024, the weighted average price at the dates of exercise was $23.24 (2023 – $24.67).
TELUS International (Cda) Inc. share options |
share-based compensation |
Schedule of stock options | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Year ended December 31 | ​ | 2024 | ​ | 2023
​ | ​ | Number of | ​ | Weighted | ​ | Number of | ​ | Weighted
​ | ​ | share | ​ | average share | ​ | share | ​ | average share
​ |  | options |  | option price 1 |  | options |  | option price
Outstanding, beginning of period | ​ | 2,536,783 | ​ | US$ | 10.39 | ​ | 2,677,297 | ​ | US$ | 10.27
Granted | ​ | 2,909,788 | ​ | US$ | 3.69 | ​ | — | ​ | US$ | —
Exercised 2 | ​ | — | ​ | US$ | — | ​ | (124,337) | ​ | US$ | 8.46
Forfeited | ​ | (93,843) | ​ | US$ | 22.73 | ​ | (16,177) | ​ | US$ | 5.77
Outstanding, end of period | ​ | 5,352,728 | ​ | US$ | 6.53 | ​ | 2,536,783 | ​ | US$ | 10.39
Exercisable, end of period | ​ | 2,363,846 | ​ | US$ | 9.32 | ​ | 2,316,683 | ​ | US$ | 9.00
​
1 | For 2,899,794 share options, the price is US$3.69 per TELUS International (Cda) Inc. subordinated voting share and the weighted average remaining contractual life is 9.7 years; for 2,096,582 share options, the range of share option prices is US$4.87 – US$8.95 and the weighted average remaining contractual life is 2.0 years; for the balance of share options, the price is US$25.00 and the weighted average remaining contractual life is 6.2 years.
Schedule of weighted average fair value of share option award granted | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Year ended December 31, 2024 |  | ​ |  | ​ |  | ​ |  | ​ | ​
Share option award fair value (per share option) |  | — |  | — |  | — | ​ | US$ | 1.50 | ​
Risk-free interest rate |  | — |  | — |  | — | ​ | ​ | 2.7 | %
Expected lives 1 (years) |  | — |  | — |  | — | ​ | ​ | 6.5 | ​
Expected volatility |  | — |  | — |  | — | ​ | ​ | 35.4 | %
Dividend yield |  | — |  | — |  | — | ​ | ​ | NIL | %
​ 1The maximum contractual term of the share option awards granted in 2024 was ten years.

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