While I can’t say I’ve ever noticed this on a director’s...

While I can’t say I’ve ever noticed this on a director’s performance targets (but I don’t look very hard), it’s not uncommon for a company to give share bonuses for duration of service.

My employer gives options that vest after 3 years of service for example and I know a few ASX companies do the same at an employee level.

Board stability can be an issue for small companies. A director leaving even for truly personal reasons can knock the share price if the market views it as a sign of no confidence.

Not saying I agree with it but I can see the rationale. Also need to consider it in the context of the total director fee and how that compares to other companies (I can’t be bothered trawling through annual reports though).