Mr Luce is obviously a good negotiator. The full $1m worth of...

Mr Luce is obviously a good negotiator.
The full $1m worth of equity for essentially signing on. Minimum Short Term Incentive allocation of 25% in the first year irrespective of performance (the incentive being what???) plus the remaining STI and LTI plus salary, super and benefits.
Back of the envelope is at least a $1.5m package including incentives, plus $1m in equity to sign on (about 1% of the company) and the opportunity to renegotiate the contract from a stronger position in April 2019!
With a $17m cash profit ($3.6m net loss after tax) I'd need to buy about $8 or 9m worth of shares to pay his salary (not including the equity he gets for free)!
I hope he can apply his considerable negotiating skills in turning around the business. If he can it will be worth a fortune to him!