Absolute obscene $ amount of performance rights for not so much performance.
From todays closing price of 24c, 44c is a long long way off given MC already close to $450M but when these performance shares were concocted the SP was 31/32 cents so basically the 34 cent options were gimmes
34c x 4M shares is $1.36M for doing nothing basically.
Then you have another 4M shares at 40c which is another $1.6M along with the 44c options is another $1.76M giving a grand total of $4.7M dollars.
Absolutely incredible, You would swear he was running commonwealth bank with the value of these incentives.
Then there is the other 4.5m options to "various employees", any indication who these employees are? Is this 4.5M options split between various employees or is it 4.5M options for each of the various employees, There is so many options already on the register im struggling to decipher between them?
My guess that someone will get a nice chunk to ensure lots of "good" marketing and social media pumping continues to get these vesting prices over the line in the future. The market might have other ideas though…..
AVZ Price at posting:
24.0¢ Sentiment: None Disclosure: Not Held
