53 Westgold Resources Limited Annual Report 2024 10. ADDITIONAL REMUNERATION DISCLOSURES Table 3: Rights and options over equity instruments granted as compensation All rights and options refer to rights and options over ordinary shares of Westgold Resources Limited, which are exercisable on a one-for-one basis. There were no options granted to KMPs as compensation during the current year. Performance rights that were granted as remuneration to each KMP during the current year and in previous years and which have vested during or remain outstanding at the end of the year are provided as follows: Rights Granted Number of rights to % Vested during the year % Forfeited during the year Incentives Grant Date Fair Value at Grant Date Test Date WC Bramwell SH Heng PW Wilding Short Term incentives 12 month service condition(i) Tranche 5 RTSR 11/10/2021 $1.20 30/06/2024 50,609 25,281 25,607 50 50 ATSR 11/10/2021 $0.95 30/06/2024 50,609 25,281 25,607 50 50 AEPS 11/10/2021 $1.79 30/06/2024 50,609 25,281 25,607 50 50 Operational Growth 11/10/2021 $1.79 30/06/2024 50,609 25,281 25,607 50 50 Tranche 6 RTSR 04/10/2022 $0.572 30/06/2025 115,570 83,723 92,204 – – ATSR 04/10/2022 $0.361 30/06/2025 115,570 83,723 92,204 – – AEPS 04/10/2022 $0.855 30/06/2025 115,570 83,723 92,204 – – Operational Growth 04/10/2022 $0.855 30/06/2025 38,523 27,906 30,733 – – Tranche 7 RTSR 09/10/2023 $1.176 30/06/2026 190,135 66,148 76,132 – – ATSR 09/10/2023 $1.173 30/06/2026 190,135 66,148 76,132 – – AEPS 09/10/2023 $1.695 30/06/2026 190,135 66,148 76,132 – – Ore Reserve Growth 09/10/2023 $1.695 30/06/2026 190,135 66,148 76,132 – – Total 1,348,209 644,791 714,301 Value of rights granted during the year $1,091,185 $379,623 $436,922 Notes The maximum exposure of the performance rights approximates the fair value per right. Unless the Board determines otherwise, on cessation of employment, all unvested LTI awards, together with any vested LTI awards that have not been exercised, will lapse. The value of the share-based payments granted during the period is recognised in compensation over the vesting period of the grant. For details on the valuation of the options, including models and assumptions used, please refer to Note 28. In addition to a continuing employment service condition, vesting of the performance rights is conditional upon the Group achieving certain performance hurdles. Details of the performance criteria are included in the long-term incentives discussion on Section 5.3 Long Term Incentive (LTI) arrangements. The value of rights granted during the year is the fair value of the rights calculated at grant date. The total value of the rights granted is included in the table above. This amount is allocated to remuneration over the vesting period (i.e. in years 1 July 2022 to 30 June 2025). 580,528 performance rights were exercised and converted into shares during the year, of which 202,995 were issued to KMPs with the balance of 377,533 issued to other employees.
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