Page 66 - Sundance Resources Ltd Annual Report 2013

64 SUNDANCE RESOURCES LIMITED ANNUAL REPORT 2013
Directors of Sundance Resources Ltd
Mr G Casello 22 December
2010(i)
24/11/2010 5,300,000 - - -
Key Management Personnel of Sundance Resources Ltd
Mr P Canterbury
*Resigned May 17 2013
2013 LTI Plan
2012 LTI Plan
2012 LTI Plan
2011 LTI Plan
11/02/2013
20/03/2012
20/03/2012
13/10/2011
-
156,820
235,229
111,328
454,804
-
-
-
$0.227
-
-
-
$103,241
-
-
-
Mr B Conrick 2013 LTI Plan
2012 LTI Plan
2011 LTI Plan
11/02/2013
20/03/2012
13/10/2011
-
129,763
37,680
142,126
-
-
$0.218
-
-
$30,913
-
-
Mr P De Nardi 2013 LTI Plan
2012 LTI Plan
2011 LTI Plan
11/02/2013
20/03/2012
13/10/2011
-
392,048
103,792
420,694
-
-
$0.217
-
-
$91,501
-
-
Ms N Gill 2013 LTI Plan
2012 LTI Plan
2011 LTI Plan
11/02/2013
20/03/2012
13/10/2011
-
347,875
102,765
369,528
-
-
$0.208
-
-
$76,862
-
-
Mr R Longley 2013 LTI Plan
2012 LTI Plan
2011 LTI Plan
11/02/2013
20/03/2012
13/10/2011
-
496,963
137,020
511,654
-
-
$0.213
-
-
$108,727
-
-
Mr D Meehan 2013 LTI Plan
2012 LTI Plan
2011 LTI Plan
11/02/2013
20/03/2012
08/11/2011
-
675,869
205,529
734,508
-
-
$0.218
-
-
$159,755
-
-
Mr T Sewell 2013 LTI Plan
2012 LTI Plan
2011 LTI Plan
11/02/2013
20/03/2012
08/11/2011
-
405,577
123,318
437,749
-
-
$0.227
-
-
$99,369
-
-
(i) The issue of performance rights to Mr Casello was approved by shareholders at the Company’s Annual General Meeting (AGM) held on 24 November 2010. Upon vesting of the
performance rights, shares will automatically be issued to the participant, unless the Company is in a ‘Blackout Period’ (as defined in the Company’s Share Trading Policy) or the Company
determines in good faith that the issue of Shares at that time may breach the insider trading provisions of the Corporations Act, in which case the Company will issue the shares as soon as
reasonably practical thereafter.
a. The Performance Rights vest in three equal tranches of 2,650,000 on each of 3 November 2011, 2012 and 2013 if Mr Casello continues to be employed by the Company at the
vesting date, there are no other performance conditions attached to these rights. All performance rights are forfeited upon termination of employment.
b. The value of these performance rights at grant date equated to $0.37 each, for a total value of $2,941,500.
(ii) The Grant Date is the date at which the Performance Rights were issued following approval by the Board of Sundance. The 2011, 2012 and 2013 LTI Plan are effective from the
1 January 2011, 2012 and 2013 respectively.
directors’ report (continued)
FOR THE YEAR ENDED 30 JUNE 2013
Name
Performance
Rights Series Grant Date(ii)
No. Held
at Start of
Financial
Year
Granted During Financial Year
No.
Fair Value
at Grant
Date $/
Right
Value of
rights
granted
$
12. REMUNERATION REPORT OVERVIEW (continued)
12.7 Long Term Incentives and Share Based Payments (continued)