2023 Consolidated Financial Statements and Notes
AIR CANADA
2023 Consolidated Financial Statements and Notes
vest after three years from their date of grant. The PSUs and RSUs granted are generally redeemed for Air Canada
shares purchased on the secondary market and/or equivalent cash at the discretion of the Board of Directors.
The compensation expense related to PSUs and RSUs in 2023 was $23 million (2022 - $16 million).
A summary of the Long-term Incentive Plan share unit activity is as follows:
Beginning of year
Granted
Settled
Forfeited
Outstanding share units, end of year
Employee Share Purchase Plan
2023
2022
2,891,925
2,197,983
1,840,914
1,316,113
(574,614)
(595,284)
(124,134)
(26,887)
4,034,091
2,891,925
Eligible employees can participate in the employee share purchase plan under which employees can invest between
2% and 10% of their base salary for the purchase of shares on the secondary market. Air Canada will match 33.33%
of the contributions made by employees. During 2023, the Corporation recorded compensation expense of $21 million
(2022 - $9 million, with the plan effective June 1, 2022) related to the Employee Share Purchase Plan.
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