normally I'd agree, when the share price collapses and they...

normally I'd agree, when the share price collapses and they deliver themselves huge LTIPs with next to no real perfomance hurdle - it stinks

BUT, I am not sure that's what has been proposed here. As I have understood it , the proposed LDM performance rights are subject to a TSR measure (i.e total return relative performance of other "like stocks" measured over a 3 year period) with a starting price/level based on the VWAP for the 3 months ended 14 May 2013.

I haven't done an exact calc but just eye-balling the chart to me it looks like the VWAP for the 3 months ended 14 May 2013 is about 15 cents. So LDM first has to get the SP price above 15 cents and then the SP increase + any divs (hah!) above that level over the 3 year period has to outperform 50% of "the peers" before LDM gets a bean from these things.


Given that the SP was about 18.5 cents when LDM joined as CEO and 12.5 cents when he was apointed MD - I don't think its an unreasonable incentive structure.

Pls Note, I am no appologist for the Board or LDM and the sh*t perfromance they have delvierd with the SP collapsing over the last 6 months, so If I have got this factually wrong pls correct me.

Pls note