Not sure I'm a fan of these incentives. Don't have an issue with the number (although I think it is generous towards Turvey and Billing.)
Using the VWAP in March, yet granting the options in November? I would imagine that both tranches of options will be well in the money by the time they are granted.
The options lapse if the director leaves within 2 years great, but not great when they'll be in the money so close to issue, if not before.
Actually, I think I do have issue with the number of options. It will be 7.6% of the company, not sure I like that..
Anyone else got any thoughts?
Ann: Proposed Directors Options for Approval by Shareholders, page-2
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