A few posters have commented on the importance of voting and...

A few posters have commented on the importance of voting and having a say at this year’s AGM.

I notice the following extracts from the Annual Report relating to Incentive Plans for Directors.

Short Term Incentive (STI)
“The shareholder approved STI Plan for executive directors will not apply in 2018FY as Mr Clark resigned and Mr Rezos moved to a Non-Executive role.”

Long Term Incentive (LTI)
“The shareholder approved LTI Plan for executive directors will not apply in 2018FY as Mr Clark resigned and Mr Rezos moved to a Non-Executive role.”

Performance Shares
“At the November 2015 AGM, shareholders approved the issue of 2,000,000 Performance Shares to Mr Clark as then Executive Director and CEO and 1,250,000 Performance Shares to Mr Rezos as then Executive Chairman. These performance shares had a price target condition of $1.24 which was not met by the 30 June 2017 expiry and accordingly lapsed at that date.”

“Non- Executive Directors are not entitled to participate in any STI, LTI, Options or any other executive incentive plans.“

It seems the director remuneration issues that raised shareholder concerns last year and could have led to a second strike have now been addressed.


Considering the management changes that have since occurred, is there a problem anticipated for this year that we need to prepare to say something about? I would have thought the issues have been resolved.