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56 Independence Group NL
DIRECTORS’ REPORT
Directors' report
30 June 2016
(continued)
Remuneration report (continued)
Additional statutory information
(i) Relative proportions of fixed vs variable remuneration expense
The following table shows the relative proportions of remuneration that are linked to performance and those that are
fixed, based on the amounts disclosed as statutory remuneration expense:
Name
Fixed remuneration
1
At risk - STI
At risk - LTI
2016
%
2015
%
2016
%
2015
%
2016
%
2015
%
Executive Directors of
Independence Group NL
Peter Bradford
58
83
21
-
21
17
Other key management personnel
of the group
Keith Ashby
99
100
-
-
1
-
Rob Dennis
93
-
-
-
7
-
Matt Dusci
72
93
16
-
12
7
Joanne McDonald
99
-
-
-
1
-
Sam Retallack
88
78
8
6
4
16
Scott Steinkrug
66
71
14
6
20
23
Brett Hartmann
61
71
20
7
19
22
Tony Walsh
63
76
37
8
-
16
1. Fixed remuneration paid is not based upon any measurable performance indicators. Non-performance based remuneration is based
on relative industry remuneration levels and is set at a level designed to retain the services of the director or senior executive.
(ii) Performance based remuneration granted and forfeited during the year
The table below shows for each KMP how much of their STI cash bonus was awarded and how much was forfeited. It
also shows the value of share rights that were granted, vested and forfeited during FY16. The number of share rights
and percentages vested/forfeited for each grant are disclosed on page 57 below.
Total STI bonus (cash)
LTI Share Rights
2016
Total
opportunity Awarded Forfeited
Value
granted
1
Value
vested
2
Value
forfeited
2
$
%
%
$
$
$
Peter Bradford
300,000
90
10
399,913
-
-
Keith Ashby
3
-
-
-
23,186
-
-
Rob Dennis
3
-
-
-
93,548
-
-
Matt Dusci
97,500
92
8
74,456
-
-
Joanne McDonald
3
-
-
-
12,677
-
-
Sam Retallack
35,250
99
1
23,806
42,893
13,553
Scott Steinkrug
90,000
92
8
74,456
96,468
32,158
Brett Hartmann
113,750
79
21
86,865
103,982
34,661
Tony Walsh
97,500
77
23
-
-
-
1. The value at grant date for share rights granted during the year as part of remuneration is calculated in accordance with AASB 2
Share-based Payment
. Refer to note 26 for details of the valuation techniques used for the PRP.
2. Value of shares vested and forfeited is based on the value of the share right at grant date.
3. Not eligible for STI as not employed by the Company in FY15 or did not meet the minimum qualifying period.
Independence Group NL
27