Macquarie Group Limited and its subsidiaries  2014 Annual Financial Report  macquarie.com.au  Notes to the financial statements  for the financial year ended 31 March 2014  continued  The following tables set out details of MEREP PSU awards held during the year for the Key Management Personnel including their  related parties, on a Consolidated Entity basis. Further details in relation to the MEREP PSU awards are disclosed in note 33— Employee equity participation.  Note 32 Key Management Personnel disclosure  continued  MEREP PSU Awards of Key Management Personnel and their related parties  (1) As discussed in note 1(xxi)—Summary of significant accounting policies, PSUs are granted in the financial year following the year of the  Company’s performance to which the grant relates. PSUs disclosed as granted above relate to 2013.  (2) Performance hurdles for PSU awards issued on or after 17 December 2009 and vesting at 1 July 2013 were partially achieved and  therefore some of those PSU awards did not become exercisable and lapsed. These awards are not exchangeable and the related  expense previously recognised on these PSU grants was reversed during the current and prior financial years.  (3) Adjustment of PSUs due to consolidation of one ordinary share into 0.9438 ordinary shares for shares held at the record date for the  consolidation.  (4) Or date of resignation/retirement if earlier.  (5) Mr Maher ceased to be a member of the Executive Committee on 3 May 2013. The balance at 31 March 2014 represents his holdings  at that date.  (6) PSUs were formally issued on 17 February 2014.  For the financial year ended 31 March 2014  Name and position  Number of PSU  awards held at 1 April 2013  PSU awards  granted  during the  financial  year (1) Vested  PSU awards exercised during the  financial year  PSU awards   not able to be exercised due to  performance  hurdles not met (2) PSU awards  consolidation  during the  financial  year (3) Number of PSU awards held at 31 March  2014 (4) Number of PSU awards vested  and not exercised during the  financial year  Number of PSU awards vested  and not exercised  at 31 March   2014  Executive Directors  N.W. Moore 365,566  82,664  (14,931)  (87,239)  (19,448)  326,612  –  –  Executives  S.D. Allen  131,464  35,132  (5,522)  (24,170)  (7,694)  129,210  –  –  T.C. Bishop  98,131  42,271  (6,656)  (17,116)  (6,554)  110,076  –  –  A.J. Downe 305,192  56,362  (10,613)  (78,317)  (15,321)  257,303  –  –  G.A. Farrell  177,348  56,362  –  (18,967)  (12,068)  202,675  6,961  6,961  M. McLaughlin  15,961  13,151  –  –  (1,636)  27,476  –  –  N. Sorbara –  35,132  –  –  (1,974)  33,158  –  –  S. Vrcelj (6) 52,170  37,574  (4,869)  (12,521)  (4,065)  68,289  –  –  G.C. Ward  164,440  48,283  (6,296)  (39,761)  (9,366)  157,300  –  –  S. Wikramanayake  224,667  56,362  (8,155)  (33,114)  (13,474)  226,286  –  –  Former Executives  P.J. Maher (5) 143,081  –  –  –  –  143,081  –  –  156 