Company: WEBNF
Filing Date: 2025-11-04
Form Type: 20-F
Source: 0001104659-25-105894
Chunk: 136

Company: WESTPAC BANKING CORP
Filing Date: 2025-11-04
Form: 20-F
Item: Item 14
Chunk 136
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 Board will typically apply the adjustment to unvested LTVR where an adjustment to current and deferred STVR is considered insufficient or unavailable. Clawback may also apply to vested LTVR, to the extent legally permissible and practicable.
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b.   Excluding the UNITE Award that is granted as share rights under the EIP and is subject to internal performance measures.
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c.   Vested share rights granted after July 2015 under the 2020 to 2023 LTVR awards and unhurdled WPP/EIP awards may be exercised up to a maximum of 15 years (generally 10 years for NZ) from their commencement date. Vested share rights under the 2024 and 2025 LTVR award (performance rights and restricted rights) are exercisable up to 2 years after the vesting date.
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d.   For LTVR restricted rights, dividend equivalent payments (DEP) are accrued for the vesting period. For LTVR performance rights, DEP are only accrued for the further deferral period after the performance period. These DEP are calculated by multiplying the number of LTVR restricted or performance rights eligible to vest by the declared dividend price on each respective record date during the applicable period. The calculation excludes franking credits. They are paid at the end of the deferral period.
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FINANCIAL   EXHIBITS INDEX   STRATEGIC   PERFORMANCE   EXHIBIT 15.4   ADDITIONAL 
REPORT                       REVIEW      REVIEW                       INFORMATION
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Note 31.Share-based payments (Continued)
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Each share-based payment scheme is quantified below.
i.Westpac Equity Incentive Plan (EIP) - Unhurdled Share Rights

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​                                             ​                ​   ​   ​                ​   ​                 ​                   ​                ​   ​   Outstanding    
​                                             ​   Outstanding as   ​   ​                ​   ​                 ​   ​               ​                ​   ​   and exercisable
​                                                   at beginning       Granted during       Exercised             Lapsed during       Outstanding as       as at end      
​                                                        of year       the year             during the year