Page 47 - Icon Energy 2014 Annual Report

REMUNERATION REPORT - AUDITED
11. EMPLOYEE PERFORMANCE RIGHTS
During the financial year the following movements in rights to acquire fully paid shares occurred:
On 4 March 2014, Icon issued 2,064,748 unlisted performance rights to employees under the 2013 performance rights
plan short term incentive (STI) offer. The STI performance rights vest effective 30 June 2014 subject to the achievement of
corporate and individual performance goals.
On 4 March 2014, Icon also issued a further 4,494,537 unlisted performance rights to senior executives under the 2013
performance rights plan long term incentive (LTI) offer. The LTI performance rights vest effective 30 June 2016 subject to
the achievement of corporate performance hurdles. These rights, which expire on 30 June 2018, are exercisable for no
consideration and are not exercisable before 30 June 2016.
Table 11: Employee Performance Rights
2,064,748 - 2,064,748 - -
2,705,497 - - - 2,705,497
- 3,883,186 - 940,034 2,943,152
- 4,494,537 - - 4,494,537
Total 4,770,245 8,364,893 2,064,748 940,034 10,143,186
2012 STI unlisted
rights Issued
14 December
2012
(Refer Note 16)
2012 LTI unlisted
rights Issued
14 December
2012
(Refer Note 16)
2013 STI unlisted
rights Issued
4 March
2014
(Refer Note 16)
2013 LTI unlisted
rights Issued
4 March
2014
(Refer Note 16)
Balance at
beginning of
financial year
Employee
Performance
Rights
Issued during
the financial
year
Exercised
during the
financial year
Expired/Lapsed
during the
year and not
exercised
Balance at end
of financial
year
ABN 61 058 454 569 ICON ENERGY LIMITED 2014 Annual Report 47