Cordlife Group Limited
Annual Report 2016
107
Notes to
The Financial Statements
for the financial year ended 30 June 2016
35. Employee benefits expense (cont’d)
Cordlife Share Grant Plan
The Cordlife Share Grant Plan is a share-based long-term incentive plan for selected key management
personnel, which was approved by shareholders at an Extraordinary General Meeting held on 18 October 2013.
The details of the plan are described below:
Performance Share Award
Plan Description
Award of fully-paid ordinary shares of the Company, conditional upon the
satisfaction of specific performance targets set at the start of a two-year
performance period based on medium-term Group and Company objectives.
Performance Conditions
Average Return on Invested Capital and Absolute Shareholders’ Return.
Vesting Conditions
Based on meeting stated performance conditions over a two-year performance
period, 50% of award will vest. Balance will vest in the third year.
Payout
0%-200% depending on the achievement of pre-set performance targets over the
performance period. In addition, for a period of at least one year after the award
of the shares, 50% of all shares awarded to the participants under the Plan may
not be transferred or otherwise disposed of.
Restricted Share Award
Plan Description
Award of fully-paid ordinary shares of the Company, conditional upon the
satisfaction of specific performance targets set at the start of a two-year
performance period based on medium-term Group and Company objectives of
retaining high potential talents (“HiPo”).
Performance Conditions
Sustained Performance Level (“PL”) Rating 1 or 2 (out of 5) and continues to
remain in HiPo talent pool.
Vesting Conditions
Based on meeting stated performance conditions over a two-year performance
period, 50% of award will vest. Balance will vest in the third year.
Payout
0%-100% depending on the achievement of pre-set PL Rating over the
performance period.
Deferred Share Award
Plan Description
One-time award of fully-paid ordinary shares of the Company, conditional upon
satisfaction of a three-year service period based on medium-term Group and
Company objectives of retaining key management important to the Group’s
leadership pipeline and Company’s current operations.
Performance Conditions
Service period beginning 15 April 2016 to 30 June 2019.
Vesting Conditions
The Award will vest in equal tranches with Vesting Dates of 1 July in 2017, 2018
and 2019, provided service-based conditions are met, in accordance with the
rules of the Plan.
Payout
0%-100% depending on the service period.
