Can't seem to reply to Lala49er (must have me on ignore) but claims of a "pay rise" are rubbish. Non-exec directors in FY 2021 received ridiculous amounts of cash AND shares. Grivas pocketed $451,000 (some of that was consultancy fees); Shearer took away more than $400,000; Harding got $476,000 in shares alone. Under the new framework, NEDs will receive no equity incentives at all and will instead be paid $115,000 cash per annum. One-fifth of that they're obliged to use to buy shares on market within three- and five-year periods.
Anyone who thinks going from $400k-plus per annum to $115k is a "pay rise" probably needs a new calculator.
Ann: Letter to Shareholders - AGM Notice of Meeting, page-45
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