35 Westgold Resources Limited Annual Report 2022 STI outcomes Performance against those measure is as follows for FY2022: Name Position STI Achieved % STI Awarded1 $ Maximum potential award $ WC Bramwell Managing Director 43 11,062 26,027 WC Bramwell Executive Director 53 77,548 145,973 SH Heng Chief Financial Officer 32 34,897 109,479 PWWilding A/Chief Operating Officer 42 7,433 17,490 L Smith Company Secretary & General Counsel 43 35,063 82,500 Total 166,003 381,469 1. Performance is measured based on a combination of the operational segment performance as well as overall Group performance. The FY2022 STI awards were paid in August 2022. Long Term Incentive (LTI) arrangements Under the LTI plan, annual grants of options are made to executives to align remuneration with the creation of shareholder value over the long-term. How is it paid? Executives are eligible to receive Performance Rights (Performance Rights). In FY2022 Performance Rights were issued, being a conditional right issued to receive a share subject to the terms of the offer. Are options eligible for dividends? Executives are not eligible to receive dividends on unvested rights. Howmuch can executives earn? The LTI dollar values that executives are entitled to receive as a percentage of their fixed remuneration would not exceed 80% (FY2021: 80%) for the Managing Director and 60% (FY2021: 60%) for the other executives. The number of Rights granted were determined using the fair value at the date of grant using a Monte Carlo valuation model, taking into account the terms and performance conditions upon which the Rights were granted. How is performance measured? Tranche 5 Performance Rights will vest and become exercisable subject to the following conditions: A service condition which requires: – Continued employment for the three-year period from 1 July 2021 to 30 June 2024. A performance condition which comprises the following: – Growth in Relative Total Shareholder Return (RTSR) – Growth in Absolute Total Shareholder Return (ATSR) – Growth in Absolute Earnings Per Share – Operational Growth
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