Ann: Section 708A Notice, page-4

These new shares are to go staff / management.
I think staff owning shares is a good thing in that it provides a more company-centric thought process (according to those ‘in the know’), however anything free has little value (also accepted wisdom) so my view is that shares should be paid for (with company matching, perhaps) via salary sacrifice.
I am not a fan of performance shares for Mgt either. They get a salary. If they don’t perform get someone who does. Easy.
I find the number of shares issued to management (across many companies) objectionable, especially when the performance targets are so low as to be met by playing solitaire.
The recent past CEO of BHP told his senior management that any/all improvement in company performance was due to market factors and that their jockeying for personal performance worked against achievement of overall company performance goals. As a consequence STIP (Short Term Incentive Payments) would henceforth be based only on direct contribution to overall company performance. This a great example of identifying how incentive schemes can backfire.
Pay salaries and make it easy to buy shares FROM SALARY if desired but set expectations for all company personnel and if they can’t meet those expectations find someone who can.
Rant over. Enjoy disagreeing with me. I’ve had 6 teenagers, I’m used to it.