IOOF  | Annual Report 2012 7.4 Deferred shares, options and performance rights over equity instruments granted as  compensation during 2012 Details of deferred shares, options and performance rights over ordinary shares in the Company that were granted as compensation to  each key management person during the reporting period are as follows: The following performance rights were granted to KMP since the end of the financial year: (1) The maximum value at the time of the grant is determined by multiplying the number granted by the fair value of the equity instruments. The minimum value of the  grants, if the applicable conditions are not met at vesting date, is nil. 7.5 Options and performance rights granted since the end of the financial year In addition to continued service to the Group ,the performance hurdle for the LTI plan has been linked to Company Total Shareholder  Return (TSR) compared to S&P ASX200 companies at the date of grant. TSR represents the change in the value of a share plus the  value of dividends paid. TSR was chosen as the most appropriate comparative measure as it focuses on the delivery of shareholder  value and is a well understood and tested metric of performance. Name Type of instrument Number  granted Grant date Vesting date Date of  expiry Exercise  price  $ Instrument  fair value (1) C Kelaher LTI options 150,000 01-Jul -11 01-Jul-14 01-Jul-17  $6.81   $1.62  LTI options 75,000 01-Jul -11 01-Jul-15 01-Jul-17  $6.81   $1.77  LTI options 75,000 01-Jul -11 01-Jul-16 01-Jul-17  $6.81   $1.87  LTI performance rights 75,000 01-Jul -11 01-Jul-14 01-Jul-17  $0.00   $3.11 LTI performance rights 37,50 0 01-Jul -11 01-Jul-15 01-Jul-17  $0.00   $2.93  LTI performance rights 37,50 0 01-Jul -11 01-Jul-16 01-Jul-17  $0.00   $2.77  M Carter LTI performance rights 45,000 3-May-12 30-Jun-14 30-Jun-14  $0.00   $4.78  D Coulter LTI performance rights 45,000 3-May-12 30-Jun-14 30-Jun-14  $0.00   $4.78  G Riordan LTI performance rights 45,000 3-May-12 30-Jun-14 30-Jun-14  $0.00   $4.78  S Merlicek LTI performance rights 45,000 3-May-12 30-Jun-14 30-Jun-14  $0.00   $4.78  R Mota LTI performance rights 45,000 3-May-12 30-Jun-14 30-Jun-14  $0.00   $4.78  Name Type of instrument Number  granted Grant date Vesting date Date of  expiry Exercise  price  $ M Carter LTI performance rights 25,000 20-Aug-12 30-Jun-15 30-Jun-15  $0.00  D Coulter LTI performance rights 25,000 20-Aug-12 30-Jun-15 30-Jun-15  $0.00  G Riordan LTI performance rights 25,000 20-Aug-12 30-Jun-15 30-Jun-15  $0.00  S Merlicek LTI performance rights 25,000 20-Aug-12 30-Jun-15 30-Jun-15  $0.00  R Mota LTI performance rights 25,000 20-Aug-12 30-Jun-15 30-Jun-15  $0.00  M Stephen LTI performance rights 10,000 20-Aug-12 30-Jun-15 30-Jun-15  $0.00  page 47