I had a similar query too. When I reviewed more closely there are conditions to meet for the vesting of these Performance Rights. Check out pages 21-24 of the document, you can see that 40% are tied to relative performance to peer group companies, whilst 60% are tied to absolute returns.
So in effect if performance does not meet par or better than total payment is reduced.
Looks pretty similar with other schemes I have seen in private and public companies. I do think the target prices for the second category are quite conservative though and could be targeted higher.
RNU Price at posting:
7.3¢ Sentiment: Buy Disclosure: Held
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