20974 29Metals AR23 WEB V1 - Flipbook - Page 118
29Metals 2023 Annual Report
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Directors’ Report continued
29Metals Appendix 4E and Annual Financial Report for 29Metals Limited and its Controlled Entities for the year ended 31 December 2023
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Directors’ Report
Remuneration Report
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Represents the cash value for performance rights awarded under the Company’s performance based remuneration components that vested during the Reporting Period,
applying the closing price for 29Metals shares on the applicable vesting date. Refer to sections 4. and . for further information regarding performance rights awarded to
executive MPs that vested during the Reporting Period.
Termination payments (excluding superannuation) paid to executive MPs on cessation of employment (if applicable).
wen egarty is a nominee director for the EMR Capital nvestors. Mr egarty’s Director’s fees are paid to EMR Capital. Refer to section 5 for further information.
ees paid to each of Ms Robertson, Ms McGill and Mr Alciaturi include $47,140 (cash value, sub ect to rounding) which was applied to ac uire new 29Metals shares issued under
the on executive Director Salary Sacrifice Share Plan (the ‘E^ŚĂƌĞWůĂŶ’), inclusive of $17,141.02 withheld from their respective Director’s fees in 2022 and applied to
ac uire shares under the ED Share Plan in 202 . Refer to section 5.5 for further information regarding the ED Share Plan and shares issued to Directors under the ED Share
Plan during the Reporting Period.
ees paid to Ms Brown include $1 ,420 (cash value, sub ect to rounding) which was applied to ac uire new 29Metals shares issued under the ED Share Plan. Refer to section
5.5 for further information regarding the ED Share Plan and information regarding the shares issued to Directors under the ED Share Plan during the Reporting Period.
Excludes other benefits totalling $9,529 comprising legal fees paid by the Company on Mr Albert’s behalf in connection with the negotiation of the CE Transition terms. Refer to
section . for further information regarding the CE Transition terms and section 4.7 for the legal costs paid by the Company.
Termination benefits payable to Mr Albert under the terms of the CE Transition will be remitted following his retirement on 0 April 2024. nformation regarding the terms of
the CE Transition, including termination benefits payable to Mr Albert, is set out in section . .
Excludes other benefits totalling $52,0 1 for airfares, travel expenses and accommodation for Mr Cooney to commute between Sydney and Melbourne during the Reporting
Period (cited exclusive of applicable fringe benefits tax (‘&d’)). Refer section 4.7 for further information.
T R for Mr erbert for the Reporting Period includes a temporary increase in T R for a period during which Mr erbert was acting Chief Executive fficer while Mr Albert was on
annual leave. The aggregate incremental T R for the relevant period was $ ,795 (inclusive of superannuation).
T R for Mr Tuck for the Reporting Period includes payment for $79, 59 annual leave cashed out during the Reporting Period.
3. Overview of KMP remuneration at 29Metals
3.1 Remuneration governance
The Board has ultimate responsibility for making decisions regarding 29Metals’ approach to remuneration and remuneration outcomes.
The Remuneration
ominations Committee assists the Board to discharge its responsibilities in relation to remuneration matters, providing advice and
recommendations to the Board in relation to (among other things)
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the Group’s remuneration strategy and framework;
the Group’s systems and processes for assessing people performance, and for attracting and retaining a diverse and highly skilled workforce;
the Group’s policies and strategies for developing the workforce and promoting a culture which reflects the Company’s Values;
performance measures to be applied in the Group’s performance based remuneration components, as well as assessing the performance against
those measures;
executive and Board succession planning; and
nominations to the Board.
An overview of the role of Management, the Remuneration
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ominations Committee and the Board in relation to MP remuneration is shown below.
