Yes...of course he does...
Did he achieve the performance targets? Nope.
Will he be contributing to achieving the targets in the future? Nope.
Does he deserve to retain the performance rights given that he has failed to make any progress towards the target since the performance rights were voted on at the previous AGM? Nope - well the current share price is actually lower than it was on the 28th of January 2022. The share price was $1.52 on the 28th of January, it is now $1.445 so we have actually gone backwards!
Does the board have at their discretion the ability to cancel the performance rights due to the fact that they have not vested during the period of directorship? Yes.
Is it in the interest of shareholders for Raymond to retain the performance rights which he has failed to achieve during his tenure? Absolutely not.
As I joked the other day "quick someone stuff 1.1 million dollars in his pocket before he walks out the door" (i.e. 750,000 shares at the current share price)... I'm just surprised (knowing how this board operates) that they didn't vest them immediately... so at least he needs to wait for others to "earn" them (if you can call it that) before he gets the free shares... though by that time (at $3.50) we will be stuffing $2.6 million in his pockets for his non-performance... if we weren't paying for all this it would be funny...
All IMO
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