IOOF  | Annual Report 2012 7.7 Short Term Incentive (STI) and Long Term Incentive (LTI) equity allocations 7.8 Equity Vested/Exercised/Lapsed during 2012 The following table sets out the STI and LTI equity allocation awarded or forfeited in respect of the financial year. There were no LTI schemes that vested during the period for which performance hurdles were required to be tested. The deferred shares and performance rights above were exercised during the period therefore no deferred shares or performance  rights remain exercisable as at 30 Jun 12.  (1) The value of deferred shares, options or performance rights is based on the closing share price on the ASX on the date of vesting, lapsing or exercising, multiplied by  the number of deferred shares/options/performance rights. The value of options is based on the difference between the closing share price and the exercise price,  multiplied by the number of options. Name STI LTI Paid Forfeited Paid Forfeited % % % % C Kelaher 72% 28% n/a n/a S Abley 0% 100% n/a n/a M Carter 49% 51% n/a n/a D Coulter 97% 3% n/a n/a S Merlicek 0% 100% n/a n/a R Mota 89% 11% n/a n/a G Riordan 95% 5% n/a n/a M Stephen 55% 45% n/a n/a Name Type of instrument Number  granted Grant date First  exercisable  date Date of  expiry Number  vested and  transferred % Value (1) Key management personnel C Kelaher STI deferred shares 24,119 01-Jul-10 01-Jul -11 01-Jul -11 24,119 100  158,703  R Mota LTI rights 30,496  01-Dec-08 01-Dec-11 01-Dec-11 30,496  100  173,827  page 49