They are an ordinary shareholder like the rest of us. For each...

They are an ordinary shareholder like the rest of us. For each individual & entity in their personal capacity & control that are listed on the CTO registry as shareholders entitles that holder to participate in SPP. Yes they are getting diluted like the rest of us, but they can partly offest by declaring themselves performance based options etc.

As substantial shareholders, it all goes on the Form 604 for ASX publication. As directors there is a duty of disclosure for all direct & indirect interests & that forms part of the company financials.