Thanks for that.Found this some time ago as well in the Appendix...

Thanks for that.
Found this some time ago as well in the Appendix 4E and Statutory Accounts

"
Since the introduction of the ESLS in FY15,only 84,999 loan shares have been exercised out of 104m outstanding at balance date and the

total cash benefit realised to all employees from the share loan scheme for the period FY15 to FY20 has been $80,749.

Based on the 38.5 cents share price at 30 June 2020, no performance rights or loan shares were in the money and could be exercised,

which demonstrates the strong alignment of the LTI program with our shareholders.

While 104m loan shares and 15m rights remain outstanding, representing theoretical dilution of 7% at balance date, the actual dilution to
shareholders is 0% based on the 30June 2020 closing price."

At face value it seems very much like in SR's best interests to actually have the share price perform.

The the shares vest in tranches according to below excerpt, not in one bundle but in tranches.

Performance conditions

The number/proportion of loan shares and rights that vest is based on the absolute Total Shareholder Return (TSR) over the period, 50% vesting if a
TSR Compound Annual Growth (CAGR) of 5% is achieved, rising to 100% vesting for achievement of a TSR CAGR of 10%.Vesting will occur on a
straight-line basis for performance between these two points.

If the CAGR performance conditions are met, vesting occurs progressively and at continuously increasing hurdles.Vesting can occur over a period of
5 years (including six monthly in years 4 and 5) from the date of the grant, but the TSR vesting condition continues to compound in years 4 and 5.

The table below illustrates the required growth rates at a TSR CAGR of 5% pa which would represent 50% vesting: