ANNUAL Report June 2022 Directors’ Report 14 2 K.B. MacNeill appointed Chief Executive Officer on 1 April 2021. Restated to include non-monetary benefits, leave provisions and long-term benefits. 3 K.Y. Cavallaro appointed Chief Commercial Officer on 1 July 2020; Executive Director on 1 October 2020 and resigned on 15 January 2021 from both positions. 4 C.P. Godfrey's position as Chief Operating Officer made redundant as of 31 July 2020. 5 A.M. Wing resigned as Company Secretary on 1 September 2020. 6 Performance rights and options do not represent cash payment to Directors or senior executives and performance rights / options granted may or may not be exercised by the Directors or executives. (d) Cash Bonuses No cash bonuses were paid during the period. (e) Equity Instruments The Company rewards Directors and executives for their performance and aligns their remuneration with the creation of shareholder wealth by issuing shares, options or performance rights. Share-based compensation is at the discretion of the Board and no individual has an unconditional contractual right to participate in any share-based plan or receive any guaranteed benefits. (i) Shareholdings The trading of shares issued pursuant to the Company’s Equity Incentive Plan are subject to the Company’s Securities Trading Policy; further, Key Management Personnel and employees are encouraged not to trade shares granted in order to align Director, Key Management Personnel and employee interests with those of all shareholders. Details of equity instruments (other than options and rights) held directly, indirectly or beneficially by Key Management Personnel and their related parties are as follows: 30 June 2022 Balance at 1 July 2021 Granted as compensation Received on exercise of Performance Rights Other Changes Balance at 30 June 2022 Balance held nominally Directors O. Kleinhempel 17,833,600 - - 950,000 18,783,600 - S. Layton 54,181,559 - - - 54,181,559 - R. Morrow 4,442,000 - - - 4,422,000 - Z.P. Yeo 70,232,310 - - - 70,232,310 - Executives K.B. MacNeill - - - 439,989 439,989 - 146,669,469 - - 1,389,989 148,059,458 - There were no shares granted to Key Management Personnel as remuneration in the 2022 Financial Year. (ii) Options and Performance Rights Holdings Details of options and performance rights held directly, indirectly or beneficially by Key Management Personnel and their related parties, during the financial year, are as follows: 30 June 2022 Balance at 1 July 2021 Granted Exercised Balance Total vested and exercisable Total unvested and unexercisable Directors O. Kleinhempel 10,000,000 - - 10,000,000 5,000,000 5,000,000 S. Layton 4,000,000 - - 4,000,000 2,000,000 2,000,000 R. Morrow 4,000,000 - - 4,000,000 2,000,000 2,000,000 Z.P. Yeo 4,000,000 - - 4,000,000 2,000,000 2,000,000 Executives K.B. MacNeill 15,000,000 - - 15,000,000 10,000,000 5,000,000 37,000,000 - - 37,000,000 21,000,000 16,000,000 EQ Resources Limited Annual Report 2022 45
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