Aeris Annual Report 2022
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LONG TERM INCENTIVES (LTI)<br />
Current LTI Plan – Options<br />
The Company introduced a new LTI Plan (Plan) for FY2021 which is provided by way of Performance Rights,<br />
details of which are provided below.<br />
Purpose<br />
Opportunity<br />
To align the remuneration of eligible employees with the drivers of sustainable,<br />
long-term company growth and shareholder value creation.<br />
The maximum LTI opportunity for executive KMP is equivalent to<br />
75% of their Base Salary.<br />
The maximum LTI for other eligible employees is between 30% and 50%.<br />
Timing and Delivery<br />
Grants are made annually following the end of the financial year<br />
and are delivered in the form of Performance Rights.<br />
Allocation<br />
Measurement period<br />
The grant is determined using a Volume Weighted Average Price (VWAP)<br />
calculated over 5 business days ending on the date prior to the<br />
commencement of the financial year.<br />
The performance measures are tested on a cummulative<br />
basis over a period of 3 years.<br />
Performance measures<br />
The performance measures are illustrated below:<br />
Relative TSR<br />
25%<br />
Share Price<br />
25%<br />
Copper<br />
Reserves 25%<br />
Gold Reserves<br />
25%<br />
Vesting Scales<br />
Relative Total Shareholder Return (TSR):The type of relative TSR used is ranked TSR,<br />
which is a method of calculating the return shareholders would earn if they held<br />
a notional number of shares over a period of time, measured against a relevant<br />
peer group based on an agreed VWAP at the relative measure points. The<br />
number of Performance Rights allocated to TSR that will vest is determined in<br />
accordance with the below vesting scale:<br />
RANKING AGAINST COMPARATOR GROUP<br />
LEVEL OF VESTING<br />
Equal to or above 75th percentile 100%<br />
AERIS ANNUAL REPORT <strong>2022</strong><br />
Above the 50th percentile and<br />
below the 75th percentile<br />
At the 50th percentile 50%<br />
Less than the 50th percentile<br />
The relevant peer group for FY<strong>2022</strong> includes Aurelia Meta ls Limited, Red 5 Limited, Red River Resources<br />
Limited, 29 Metals Limited, Dacian Gold Limited and Pantoro Limited. The Board reviews the relevant peer<br />
group annually and makes amendments as it deems appropriate.<br />
Pro-rata vesting on a straight line<br />
basis between 50% and 100%<br />
Nil<br />
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