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share-based compensation (Tables)

12 Months Ended

Dec. 31, 2024

share-based compensation

Schedule of share-based compensation expense

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Years ended December 31 (millions)

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​

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2024

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2023

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​

​

​

​

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Associated

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Statement

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​

​

Associated

​

Statement

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​

​

​

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

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(b)

​

$

164

​

$

(14)

​

$

150

​

$

127

​

$

(9)

​

$

118

Employee share purchase plan

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(c)

​

​

34

​

​

(34)

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​

—

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​

43

​

​

(43)

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​

—

Share option awards

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(d)

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​

1

​

​

—

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​

1

​

​

1

​

​

(2)

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​

(1)

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​

​

​

$

199

​

$

(48)

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$

151

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$

171

​

$

(54)

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$

117

TELUS technology solutions

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​

​

$

150

​

$

(42)

​

$

108

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$

144

​

$

(45)

​

$

99

TELUS digital experience 2

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​

​

​

49

​

​

(6)

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​

43

​

​

27

​

(9)

​

18

​

​

​

​

$

199

​

$

(48)

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$

151

​

$

171

​

$

(54)

​

$

117

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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

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​	​	​	​	​
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

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​	​	​	​	​	​	​	​
​	​	​	​	​	​	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

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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

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​	​	​	​	​	​	​	​
​		​				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

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​	​	​	​	​	​	​	​	​	​	​
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

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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

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​	​	​	​	​	​	​	​	​	​	​
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

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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

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​	​	​	​	​	​	​	​	​	​	​
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	%

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1The maximum contractual term of the share option awards granted in 2024 was ten years.

X

- Definition

The disclosure of information about indirect, by reference to the fair value of the equity instruments granted, measurement of the fair value of goods or services received as consideration for the entity's share options.

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