Page 50 - Sundance Resources 2014 Annual Report
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SUNDANCE RESOURCES LIMITED ANNUAL REPORT 2014
12. Remuneration Report (continued)
12.7 Long Term Incentives and Share Based Payments
The following share based payments have been made to KMP during the 2014 financial year:
• Performance rights granted as part of the LTI plans, pursuant to the Performance Rights Plan;
• Performance rights issued under the 2013 Retention Plan; and
• Shares issued as a result of vesting of Performance rights, pursuant to the PRP
Performance Rights Plan (‘PRP’)
The Company’s Performance Rights Plan (‘PRP’) was approved by Shareholders at the AGM on 29 November 2013. The
PRP can be found in full on the Company website
Under the PRP, Performance Rights may be offered to Eligible Persons as determined by the Board. The Performance
Rights are an entitlement to receive ordinary shares in the Company, subject to satisfaction by Eligible Persons of specified
criteria set by the Board. The Performance Rights are granted at no cost. Upon vesting of the Performance Rights, shares
will automatically be issued or transferred to the participant, unless the Company is in a “Blackout Period†(as defined in
the Company’s Securities Trading Policy) or the Company determines in good faith that the issue or transfer of shares may
breach the insider trading provisions of the Corporations Act or the Securities Trading Policy, in which case the Company
will issue or transfer the shares as soon as reasonably practical thereafter.
Long Term Incentives issued to KMP
The fair value of performance rights granted to KMP under the 2014 calendar LTI Plan are as follows:
Name
2014 LTI Plan – Tranche 1
Assessment due 31 Dec
2014
2014 LTI Plan – Tranche 2
Assessment due 31 Dec
2016
2014 LTI Plan -Tranche 3
Assessment Due 31 Dec
2017
Total 2014 LTI Plan
No. of
Rights
Fair Value No. of
Rights
Fair Value No. of
Rights
Fair Value No. of
Rights
Fair Value
Mr R Longley
720,000 $70,560 900,000 $58,500 180,000 $17,640 1,800,000 $146,700
Mr D Meehan 1,033,600 $100,259 1,292,000 $83,980 258,400 $25,065 2,584,000 $209,304
DIRECTORS’ REPORT
FOR THE YEAR ENDED 30 JUNE 2014
