You raise a lot of good points but taking a more holistic...

You raise a lot of good points but taking a more holistic approach, with less of a narrow target/KPIs approach, can also yield good results.

Lets for a second take your Haggan IPO KPI example:

If Peter did have this in his KPIs then it would focus his decisions on this narrow outcome. Which doesn't necessarily mean "success" for Aura or its shareholders. They have clearly changed tack now - hopefully because he thinks he's found a better way... But if he had the target KPI it would of changed the pyschology of his decision making (for better or worse).

Similar thing for the DFS:

If he was given a target of Feb 2019 and rushed it out, he probably could have met the deadline. I'm sure plenty of DFS' have been released where one guy was going "but we are really stuck on this point" and then management goes "but could it work hypothetical it these pretend conditions were true" and voila - they push it though because they had KPIs to meet. But would it have been the right thing to do? I dunno.

My point is KPIs/Targets are often bad drivers of performance as it's changes people's behaviour from "do the best thing" to "do the best thing for my KPIs".

Having said all that he is on a good wicket and it does seem overly generous but then he's also got solid experience of bringing mines to production. Plenty of people out there with no such track record on half his rem package - and that's because they don't have the same backgrounds. I'm sure there are also people more qualified on less.

Anyway, we want outcomes. Peter being given arbitrary deadlines does mean we'd achieve our ultimate outcome. He'd just get fewer shares, or worse he'd push things through knowing it wasn't the right thing to do. I don't know the guy but hopefully he's making the calls he feels are right, not the ones to pump up the share price or make us happy.

But you're right - I'd like to have a tax liability of 140k if I just sold the 300k of shares I was just given. Good work if you can get it, but you can't and either can most of us.