Ann: Notice of Extraordinary General Meeting, page-7

Rather than engage in conspiracy theories try reading the terms .
looks reasonable to me - there only convert to shares if JW achieves a +20%pa absolute share price rise.
obv has a retention element but mostly incentive based and success triggers.

personally I want motivated management who are heavily incentivised to make the share price go up.

Name me a winning mining company that does have a CEO with significant equity in the success?

And anyway they would not have put this back to shareholders without being confident they had support for the vote. Sounds to me like the large holders actually negotiated the terms.

And even if you are a conspiracy theorist and JW and the Directors are just Bernie Maddof in disguise - how is it bad to have a greedy rapacious ambitious CEO tied to an incentive package with hurdles that only trigger on positive performance?

sets a bar of where JW needs to get the share price in the next four years.

J9