I must say, relating the MD performance to a comparison with...

I must say, relating the MD performance to a comparison with other company's TSR is interesting. I'd have preferred more concrete and company specific targets. For example, to increases in market capitalisation (SP) of HGO stock. Hence, so many shares when SP reaches say 0.12, more at 0.14, and 100% at 0.16. Then he gets rewarded when we get rewarded. In which case I'd support 100% and vote YES.
As I read the current proposal, if market crash say and other companies drop by 50-100%, but HGO SP stays same or drops less, then he gets rewarded. Likewise if other companies do nothing much, but HGO SP rises just a little bit, then again rewarded.
If options convert to shares with increases in SP, then much more incentive to grow the company and push things along a bit, rather than treading water as it were. I have concerns that the company is not doing a lot of forward planning. Knowing that next 1-2 years should be cash cows for the company should move SP a bit. Without any particular effort beyond steady as she goes. Suggest we need more than that.
I think we need a lot more drilling, and exploration, and resource definition, followed by early plans and implementation for additional mining. Need to get mill to full capacity. And have 5-10 year life of mine.