Ann: FY2019 Operating Earnings, page-3

And those options will VEST for the execs.
From memory it was 2.8c was the hurdle (which they will clearly hit this year). I wasn't thrilled when the expiry date for these was reset (ie. another few years to hit it) - but I suppose on the upside - the higher the shareholding of mgmt the higher the alignment with shareholders.

Interesting that the run up in the APN share price happened long before this announcement on 24/07 (beating guidance). I guess that market is fully efficient? But seems a co-incidence. So no SP action on the upgrade.