Page 48 - Icon Energy 2014 Annual Report

Percentage of performance rights to vest
0%
40%
Pro-rata
100%
Movement in Share Price as Relative Percentile
RankingAgainst Comparator Group
Below 40th percentile
40th percentile
Between 40th and 75th percentile
75th percentile or above
REMUNERATION REPORT - AUDITED
12. SHARE OPTIONS
Options Granted to Directors and Key Management Personnel of the Company
There have been no options granted over unissued shares or interests of any controlled entity within the Group during or since
the end of the reporting period.
Options Held by Key Management Personnel
There were no options outstanding at 30 June 2014 or as at 30 June 2013.
13. CHANGESTO LTI PERFORMANCE RIGHTS PLAN COMMENCING 2014/15
In 2014 the Board’s Remuneration, Nominations and Succession Committee reviewed the Company’s LTI Performance Rights
Plan and recommended the following change to the Plan which was approved by the Board commencing with the 2014/15 LTI
offer:
In order for Performance Rights under the LTI to vest at least one of the following two sets of performance criteria must be
satisfied:
(1) Absolute share price hurdle
The average daily Icon Energy share price must achieve and maintain a level of at least 45 cents per share for at least 30
consecutive days over the 3 years commencing 1 July 2014, in which event all LTI rights for the 2014-15 year will vest:
(2) Relative Share Price Growth hurdle
The growth of the Icon Energy share price relative to the share price of a comparator group of Australian oil and gas
exploration companies as determined by the Board (expressed as a percentile ranking) over the three years commencing 1
July 2014 must achieve the 40th percentile in order for rights to begin vesting. Performance rights will vest in accordance with
the following schedule:
This concludes the remuneration report, which has been audited.
48 ICON ENERGY LIMITED 2014 Annual Report ABN 61 058 454 569