12 Icon Energy Annual Report 2024 REMUNERATION REPORT – AUDITED Key Points − No short-term incentives or long-term incentives were issued during the year. − No performance rights have been issued to executives or staff which could vest in the future. − No options were granted or exercised during the year. − Directors’ fees have been suspended since 1 October 2023. − Total directors’ fees for the year amounted to $77,645, reflecting the suspension from 1 October 2023. − The 2023 Remuneration Report received 94.77% approval at 2023 AGM. The Directors of Icon Energy Limited present this Remuneration Report for the Consolidated Entity for the year ended 30 June 2024, outlining key aspects of the Group’s remuneration policy and framework, and remuneration awarded to Directors and other Key Management Personnel (KMP) for the reporting period. The Remuneration Report forms part of the Directors’ Report. The information provided in this report has been prepared in accordance with section 300A of the Corporations Act 2001 (Cth) and has been audited as required by the Act. In this report, KMP are defined as those persons having authority and responsibility for planning, directing and controlling the activities of the Group, directly or indirectly. Key management personnel covered in this report: Name Position Held Period as KMP Non–Executive Directors Stephen Barry Chairman Retired 8 September 2023 Ray James Director Company Secretary Chairman Full Year Full Year Appointed 6 October 2023 Jeffrey Marvin Director Managing Director Full Year Appointed 6 October 2023 Peter Wilson Non-executive Director Appointed 8 September 2023 Mr Peter Wilson was appointed as director on 8 September 2023, and Mr Stephen Barry resigned from the position of Chairman and a member of the Board on 8 September 2023 due to his current professional commitments as a practicing lawyer. 1. ROLE OF THE REMUNERATION, NOMINATIONS AND SUCCESSION COMMITTEE Previously, our Remuneration, Nominations and Succession Committee, comprised of independent non-executive directors, was responsible for making recommendations to the Board on remuneration policies. The Committee, where necessary, obtained independent advice on the remuneration packages offered to potential employees. The Committee ensured that remuneration packages were competitive, properly aligned with the employees’ duties and responsibilities, that remuneration was competitive in attracting, retaining and motivating people of the highest quality and that remuneration practices were transparent and easily understood. Given the company’s size, the Remuneration, Nominations, and Succession Committee has been dissolved, and the Board has assumed these responsibilities in February 2024. The Board now oversees remuneration policies, the nomination and appointment of directors, and the evaluation of senior executives’ performance, continuing to adhere to our governance principles. For more information on our governance framework, please refer to the Corporate Governance Statement. Directors' Report for the year ended 30 June 2024
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