As I understand things, there is a finite amount of 9 million performance rights being progressively awarded to Sherrington on delivery of 5 performance conditions. Irrespective of the share price when awarded, it'll still be a maximum of 9 million performance rights.
Contrast that with Cuzzubbo, where an overall value of performance rights, being 800% of his annual remuneration of an eyewatering $690,000 - or $5.52 million worth - will be progressively awarded. So the lower the share price when awarded, the greater the number of performance rights issued.
Works for him and the BEOT insiders. Not for us.
Perhaps that will be the subject of his upcoming Brisbane lecture.
Arafura Rare Earth, page-94
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