Anyone looking at the formula for vesting of the Performance Rights (Schedule 1, p13 of the Notice of meeting)?
Says the lesser of 1) or 2).
So, by my calc's, 1) goes as follows;
= $12,000
- $400k x 3 (base salary) x 50% (LTI for MD) x $0.02 (say 60day vwap)
Must be reading it wrong, or should the formula finish with the $600k being divided by the 60 day vwap?
Geez I'm hopeless at these things
Anyone?
Ann: Notice of General Meeting/Proxy Form, page-49
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