v3.24.0.1
Share-based compensation (Tables)
 12 Months Ended
Dec. 31, 2023
Disclosure of terms and conditions of share-based payment arrangement [abstract]  
Summary of the activity related to restricted share units The following table presents a summary of the activity related to our restricted share units:
US$ denominated
Number of unitsWeighted average grant-date
fair value
Non-vestedVested
Outstanding, January 1, 20211,383,642 — $7.94 
Granted1,383,983 — $27.26 
Vested(805,429)805,429 $7.29 
Exercised — (805,429)$7.29 
Forfeited(111,389)— $20.16 
Outstanding, December 31, 20211,850,807 — $21.94 
Granted821,223 59,512 $26.41 
Vested(798,373)798,373 $16.63 
Exercised(1)
— (857,885)$17.52 
Forfeited(267,836)— $19.85 
Outstanding, December 31, 20221,605,821 — $27.10 
Granted1,567,809 770,043 $15.34 
Vested(423,501)423,501 $26.49 
Exercised(1)
— (1,193,544)$17.01 
Forfeited(134,383)— $23.80 
Outstanding, December 31, 20232,615,746 — $21.36 
______________________________________________
(1)During the year ended December 31, 2023, 1,193,544 RSUs (2022 - 360,044 RSUs) were exercised and settled with subordinate voting shares issued from treasury, and for the year ended December 31, 2022, all remaining 497,841 Phantom RSUs and Phantom PSUs were exercised and cash-settled in for $11 million based on a weighted average share price on the dates of exercises of $22.01.
20222021
Phantom TELUS
Corporation restricted
share units		Phantom TELUS
Corporation restricted
share units
Years Ended December 31 Canadian $ denominatedNon-vestedVestedWeighted
average
grant-date
fair value		Non-vestedVestedWeighted
average
grant-date
fair value
Outstanding, beginning of year78,011 — $24.20 156,749 — $24.17 
Granted— — $— 24,757 — $27.58 
Vested(59,549)59,549 $24.13 (85,154)85,154 $23.96 
Exercised(1)
— (59,549)$24.13 — (86,745)$25.22 
Dividends1,568 — $30.85 5,023 1,591 $27.43 
Forfeited(20,030)— $24.92 (23,364)— $24.72 
Outstanding, end of year— — $— 78,011 — $24.20 
_________________________________________________
(1)In 2022, all remaining Phantom TELUS Corporation RSUs were either forfeited or exercised and cash-settled for CAD$2 million, reflecting the share price on the date of exercise of CAD$28.67.
Summary of the activity related to share option awards
The following table presents the activity related to our share option awards.
US $ denominatedCanadian $ denominated
Number of share
option units		Number of share
option units
Non-vestedVestedWeighted
average
exercise
price		Non-vestedVestedWeighted
average
exercise
price
Outstanding, January 1, 2021
654,633 3,267,423 $6.23 — 242,244 $4.75 
Granted
579,949 — $25.00 — — — 
Vested(150,397)150,397 $5.78 — — — 
Exercised— (1,321,238)$5.74 — (242,244)$4.75 
Outstanding, December 31, 20211,084,185 2,096,582 $9.86 — — — 
Vested(293,860)293,860 $8.46 — — — 
Exercised(1)
— (293,860)$8.46 — — — 
Forfeited(209,610)— $6.59 — — — 
Outstanding, December 31, 2022580,715 2,096,582 $10.27 — — — 
Vested(358,413)358,413 $6.43 — — — 
Exercised(1)
— (124,337)$8.46 — — — 
Forfeited(2,202)(13,975)$5.77 — — — 
Outstanding, December 31, 2023(2)
220,100 2,316,683 $10.39 — — — 
Exercisable, December 31, 2023— 2,316,683 $9.00 — — — 
_________________________________________________
(1)During the year ended December 31, 2023, nil Share Options (2022 - 159,354 Share Options) were exercised and settled for shares issued from treasury (2022 - 65,859 shares, net of withholding taxes), and 124,337 Phantom Share Options (2022 - 134,506 Phantom Share Options) were exercised and cash-settled for $2 million (2022 - $2 million), reflecting the intrinsic value at the date of settlement and a weighted average share price on the dates of exercises of $14.81 (2022 - $23.75).
(2)For options outstanding at the end of the year, the exercise prices ranged from $4.87 to $8.95 for 2,096,582 options (2022 - $4.87 to $8.95 for 2,223,121 options) with a weighted-average remaining contractual life of 3.0 years (2022 - 4.2 years), and $25.00 for 440,201 options (2022 - $25.00 for 454,176 options) with a weighted-average remaining expected life of 7.2 years (2022 - 8.2 years).
Weighted average fair value assumptions used in the Black-Scholes valuation for stock options The weighted average fair value of Share Options granted during the year ended December 31, 2021, and the weighted average assumptions used in the fair value estimation at the time of grant, calculated by using the Black-Scholes model, are as follows:
Year Ended December 312021
Share option award fair value (per share option)$5.34
Risk free interest rate0.73%
Expected lives (years)6.5
Expected volatility19.30%
Dividend yield—