TELUS Executive Chair Darren Entwistle Establishes Family Trust - Quick Facts

(RTTNews) - Canadian telecommunications company TELUS Corp. (TU) Tuesday said Darren Entwistle, Executive Chair of the company, has established a family trust as part of an estate and tax planning transaction.

As part of the transaction, 974,410 TELUS common shares previously controlled by Entwistle will now be controlled by a family trust for the benefit of Entwistle's family.

Entwistle will continue to personally hold 1.04 million common shares and restricted stock units, significantly exceeding his share ownership requirement of 12 times his base salary.

Moreover, he continues to receive all of his base salary net of taxes and withholdings in TELUS shares for a sixth consecutive year in 2015.

This estate planning decision is unrelated to Entwistle's ongoing role as TELUS' Executive Chairman, where he continues to oversee the company's strategy and operations. He will also continue to work together with the Lead Director to ensure the effective operation and leadership of the Board.