3 months to 31 Mar 2012  (reviewed) Balance at  beginning of period Granted as  remuneration  Exercise of options Net change other 2 Balance at end of period Number Number Number Number Number Directors D� McGauchie 198,689 - - - 198,689 D� Farley 339,063 - - 10,000 349,063 S� Black - - - 10,000 10,000 N� Burton Taylor 1 6,305,802 - - (6,305,802) - C� Roberts1 60,563 - - (60,563) - Executives P� Dempsey 161,705 - - - 161,705 Total 7,065,822 - - (6,346,365) 719,457 3 months to 31 Mar 2013  $ 1 2 months to 31 Dec 2012  $ 3 months to 31 Mar 2012  $  (reviewed) (a) Recognised share-based payment expenses Expense arising from equity-settled share-based payment transactions 130,000 751,000 60,000 The share-based payment plans are described below� There have been no cancellations or modifications to any of the plans during the three  months to 31 March 2013 and 31 March 2012, and the twelve months to 31 December 2012� The Group has one Executive Option Plan (EOP) for the granting of non-transferable options to the Managing Director/ Chief Executive Officer,  senior executives and middle management with more than twelve months’ service at the grant date� There will be no further grants under this Plan�  No options were issued to Mr� D� Farley during the three months to 31 March 2013 and 31 March 2012, and the twelve months to 31 December  2012� No options were granted to senior executives during the three months to 31 March 2013 and 31 March 2012, and the twelve months to 31  December 2012� Annual Report 2013 99 27. SHARE-BASED PAYMENT PLANS All equity transactions with Directors and executives other than those arising from the exercise of remuneration options have been entered into  under terms and conditions no more favourable than those the entity would have adopted if dealing at arm’s length� No other Directors or executives held shares during the period� 26. KEY MANAGEMENT PERSONNEL (CONTINUED) NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS CONT (c) Shares (continued) (b) Executive Option Plan (EOP) Chief Executive Officer – Executive Options Senior Executive - Executive Options Mr� D� Farley (CEO) was appointed on 1 December 2009 and under the terms of his executive service agreement he is entitled to an LTI benefit up  to a maximum of 50% of fixed remuneration� 1  N� Burton Taylor and C� Roberts resigned on 16 March 2012� 2  Net shares acquired or disposed of by other means, and the removal from the table of the shareholdings for key management personnel who have resigned during the period�