You got your numbers wrong, it isn't 16m for both tranches.
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Meanwhile GB is going off his head about something that has been known for years. The non-executive and executive remuneration reports are quite clear. However GB says:
“to be issuing these, he’s been given a holding today” (72244693)
“Management handing out scrip like lollipops” (72247593)
They were not given "scrip", they were not given "a holding today". This is manipulation and misinformation.
"...performance rights is linked to the performance of the consolidated entity, as an improvement in the Company's share price will correspondingly increase the benefits to the executive.
This will align the interests of the executive and the shareholders." source: 27 Sep 2023, ASX:MAY, 2023 Annual Report to Shareholders
Therefore, this is a good thing, they are highly incentivised to do what they can to increase the share price to mutually benefit themselves and shareholders.
Regardless of when these personnel were recruited, their conditions for performance rights were the same:
source: 27 Sep 2023, ASX:MAY, 2023 Annual Report to Shareholders
Therefore, this is 1) known for years, 2) mutually beneficial to both shareholders and the key personnel and 3) incentive to increase the share price.
It is hard to take issue with this announcement if you actually understand it. For example I never heard anyone complain when Uno Makotsvana got his 12,233,178 performance rights? That is because there is nothing to complain about, it is a good thing.
(20min delay)