All ready done as outlined in 2018 annual report; CHANGES TO...

All ready done as outlined in 2018 annual report;

CHANGES TO REMUNERATION
The Company has introduced a new cash-settled long term incentive plan for key management personnel which is directly linked to movements in share price, aligning KMP long term incentives to shareholder wealth outcomes. Key management personnel received their first allocation under the new plan this financial year, with vesting to occur over the next three financial years.

1. II) PRIME MEDIA GROUP LIMITED CASH SETTLED PERFORMANCE PLAN INTRODUCED NOVEMBER 2017

On 3 November 2017, the Company implemented a new Prime Performance Plan for key management personnel. The new plan is a cash-based plan which has been designed to reward KMP performance over a 3 year period by offering a potential entitlement to cash payments linked to the Group’s share price performance over the same period.
The maximum long term incentives under the plan for the following key management personnel are as follows:


Entitlement Grant Date Share Price at Grant Max value at Grant
Audsley 1,000,000 23/1/18 $0.42 420,000
Walker 450,000 23/1/18 $0.42 189,000
Palisi 375,000 23/1/18 $0.42 157,500

Under the new cash-settled performance plan, eligible KMP will be granted notional share units, the value of which will vary with the Company’s share price over a three year vesting period. The amount of notional share units that vest will be linked to the employee’s STI performance measures as set by your Board at the beginning of each financial year. The value of notional share units at vesting will be equivalent to the Company’s share price at the date of vesting.
An employee will forfeit their entitlement to unvested notional share units if their employment ends prior to the vesting date.
In the event of a change of control of the Company, an employee’s notional share units will vest on a pro-rata basis at the share price value on the date of change of control.
No cash-settled benefits were paid to KMP under the new plan in this reporting period.