88 / 164
DIRECTORS’ REPORT
88 Independence Group NL
Directors' report
30 June 2015
Remuneration report (continued)
(h) Additional statutory information (continued)
(iii) Reconciliation of ordinary shares and share rights shares held by KMP (continued)
Share rights in the Company
2015
Name
Balance at the
start of the
year
Granted
during the
year
Vested as
shares during
the year
Lapsed during
the year
Other changes
during the
year
Balance at the
end of the
year
Directors of
Independence
Group NL
Peter Bradford
-
175,365
-
-
-
175,365
SPACE
Other key
management
personnel
Keith Ashby
-
-
-
-
-
-
Matt Dusci
-
50,154
-
-
-
50,154
Andrew Eddowes
1
87,218
-
-
-
(87,218)
-
Brett Hartmann
197,063
58,513
(43,738)
(14,580)
-
197,258
Rodney Jacobs
1
172,394
-
-
-
(172,394)
-
Tim Kennedy
1
153,265
-
-
-
(153,265)
-
Sam Retallack
25,003
10,473
(7,443)
(1,213)
-
26,820
Scott Steinkrug
182,839
50,154
(40,579)
(13,527)
-
178,887
Tony Walsh
66,596
50,154
-
-
-
116,750
Total
884,378
394,813
(91,760)
(29,320)
(412,877)
745,234
1. Shareholdings are reversed to show a zero balance at 30 June 2015 on resignation as a director or ceasing to be a KMP.
The share rights relate to the KMP’s participation in the PRP. The share rights represent the maximum number of share
rights that the KMP are entitled to. They are subject to certain performance conditions being met, including the ongoing
employment of the KMP at the end of the vesting period.
(iv) Other transactions with key management personnel
During the current financial year, there were no other transactions with key management personnel or their related
parties.
(v) Reliance on external remuneration consultants
During the current financial year, the Board authorised the engagement of Gerard Daniels to prepare a report examining
the competitiveness of remuneration for directors and officers employed by the Company in the context of a group of
peer companies. An amount of $12,500 was paid for the report.
The Company also utilised data provided by Aon Hewitt McDonald and AusREM regarding salaries and benefits across
the organisation, with amounts paid for the data of $4,750 and $4,500 respectively.
The Board is satisfied that the recommendations provided in the various reports were made free from undue influence
from any members of the key management personnel.
(vi) Voting of shareholders at last year's annual general meeting
Independence Group NL received more than 99% of “yes” votes on its remuneration report for the 2014 financial year.
The Company did not receive any specific feedback at the AGM or throughout the year on its remuneration practices.
Shares under option
At the reporting date, there were no unissued ordinary shares under options, nor were there any ordinary shares issued
during the year ended 30 June 2015 on the exercise of options.
Independence Group NL
23