Ann: Strategic Review Update & Variation of MD Employment Terms, page-111

It doesnt matter.
He wants to assign himself almost 6mln performance shares with no attached performance metrics and he is arguing it is also to cover his reduction in salary.
It’s not a salary sacrifice by any definition, it is theft from shareholders.
I have seen shysters like this pull stunts like this before, they assign themselves a huge payment in “shares” with no metrics and then exit with the golden parachute.
This is THEFT from shareholders.
Miller is a disgrace, he does not deserve any performance shares, he has brought this company to its knees twice and it hasnt traded now for over 3 months.