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12:03
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Originally posted by njames
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correct me if i misread, i thought 600K of that salary was shares and he had to hit performance targets for it to pay out?
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Originally posted by Onspeed
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It's not even close to $600k. That figure is calculated based on a Performance Rights metric at time of offering . I seriously hope people aren't thinking our MD was given $600K in shares. Firstly, The shares are only worth about $67K, secondly, they aren't even converted so they are just vested Performance Rights, not shares, and not sold, thirdly, they are part of managements long term incentive package which is three years and requires performance related achievement or SP targets (27c, 30c and 35c from memory) and lastly, the performance rights vested because management signed a deal which bought in approximately $2M from partners. We WANT management to have earned this performance renumeration because it means that the company is achieving goals, receiving income or you and I are in significant profit.
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It's a good point mate. I actually had looked at salaries and all that before taking a position, and in fact discussed all of this with ol mate when I met him - just hadn't remembered and took what cowboy said at face value. Still his answer for not buying and the fact he is clearly not interested in buying on market at these prices bothers me.
