lynas remuneration 101

Some here think the directors and management are paid too much, some don't. That's fair enough.
What isn't fair and reasonable is the level of blatant misrepresentation or ignorance of the facts on remuneration.
Here are some facts, all available from the last Annual report but you have to dig a bit.
PLEASE, can this thread at least counter referenced facts with referenced facts.

JJ's (Subjective) Summary:
- Board and management hold a moderate number of shares and options
- Remuneration at Lynas is strongly dependant on both share price and operational performance.
- A $7m pa total spend on senior management and board seems very reasonable

THE OBJECTIVE FACTS:
Total remuneration for key management and board FY2013:
$7.1 m down from $11.7m in 2012 because performance metrics weren't met. (AR p 47) That amounts to about 5% of total spending (AR p 60: do the arithmetic) or 3% for their cash payments.

Total options issued to management and board FY 2013:
None because performance metrics weren't met. (AR p41)

Total shares Issued to management and board FY 2013:
None, they issue options.

What about the floods of options out there already? Here's a rough breakdown (p38 of AR).

Directors own 21m shares (NC 16m) and hold 43m options (NC 25m). (AR p 24)
Key staff hold 1.5m options and 1.8m performance rights.
All the performance rights were issued on awarding of the TOL (AR p24): most look like they won't be granted.

QUICK CHECK. Total options plus share holdings by management and board: about 68m or 3% of shares on issue.

Of the options here's a breakdown of exercise prices by expiry date:
2013: 18m, all expired @ prices 66c-98c.
2014: 24m all expire in October unless bought for 66c.
2015: 12.5m all expire unless bought for $1.15 to $2.36
2016: 10m all expire unless bought for $1.57 to $1.69