Macquarie has adopted the fair value measurement provisions of AASB 2 Share-Based Paymentfor all PSUs granted to  KMP. The fair value of such grants is being amortised and disclosed as part of each KMP’s remuneration on a straight-line  basis over the vesting period. The 2013 PSU allocation has been determined based on a valuation of a PSU at 15 August  2013. The fair value of $41.32 at this date has been estimated using a discounted cash flow method. The following key assumptions were adopted in determining the value of the PSUs granted:  GLYPH<150> interest rate to maturity:  3.33 per cent expected vest date:  1 July 2016 and 1 July 2017  GLYPH<150> dividend yield:  5.18 per cent per annum  PSUs have a nil exercise price. PSUs vest on a pro-rata basis as set out in section 1.3.6. For the 2013 grant, the first  tranche will vest on 1 July 2016. The PSUs expire on 15 August 2021. (1) Based on the fair value at grant date.  (2) Performance hurdles for PSU awards issued on or after 17 December 2009 and vesting at 1 July 2013 were partially achieved and  therefore a portion of PSU awards vesting became exercisable. For the portion of PSU awards where performance hurdles were not  achieved, 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 year.  (3)  Or during the period that the Executive was a KMP.  (4)  Based on closing share price at 1 July 2013, being the day the PSUs were forfeited.  (5)  Based on the share price at the time of exercise.  (6)  Adjustment of PSUs due to consolidation of one ordinary share into 0.9438 ordinary shares for shares held as at the record date for the  consolidation.  (7) PSUs were formally issued on 17 February 2014.  81 