Investor Presentaiton
Armour Energy and controlled entities
armourenergy.com.au
Directors' report continued
for the year ended 30 June 2020
REMUNERATION REPORT (AUDITED) CONTINUED
OPTIONS GRANTED AS PART OF REMUNERATION FOR THE YEAR ENDED 30 JUNE
2020 CONTINUED
During the year ended 30 June 2020, there were no options granted as remuneration to Key Management Personnel (2019: nil).
Details of all options on issue over unissued ordinary shares in Armour Energy Ltd on 30 June 2020 to Key Management Personnel
as remuneration are set out in the table below:
KMP
SHAREHOLDINGS
Details of all ordinary shares in Armour Energy Ltd as of 30 June 2020 held by Key Management Personnel is set out below:
Directors / Key Management Balance at
Personnel
N Mather
S Bizzell
R Sleeman
R Cressey (*)
K Schlobohm
Vesting date
Grant date
- all 100%
Grant
number
Exercise
price
Expiry Date
Number
vested
Value per
Balance
vested
K Schlobohm
29/03/2019 29/03/2016
K Schlobohm
K Schlobohm
29/03/2019 29/03/2016
29/03/2019 29/03/2016
300,000
300,000
300,000
900,000
$0.195 29/03/2021
$0.345 29/03/2021
$0.495 29/03/2021
300,000
300,000
300,000
900,000
option at
grant date*
$0.06
$0.06
$0.06
on 30 June
R Aden (**)
2020
300,000
300,000
300,000
R Fenton (*)
N Rayner (***)
900,000
* Value per option at grant date is calculated using the Black-Scholes option pricing model, which takes into account factors such as the option
exercise price, the share price at the date of issue and volatility of the underlying share price and the time to maturity of the option.
1 Jul 2019
3,647,968
1,659,051
58,333
2,120,054
391,049
595,462
381,287
316,045
9,169,249
1,182,396
553,015
Granted as in lieu
of compensation
Options
exercised
Net change other
Balance at
30 Jun 2020
4,830,364
2,212,066
58,333
(2,120,054)
391,049
595,462
(381,287)
(316,045)
(1,081,975)
8,087,274
* Mr Cressey was CEO from 21 November 2011 to 23 October 2019. Mr Fenton was Interim CEO from 21 October 2019 to 20 March 2020.
** Mr Aden was employed as CFO from 23 July 2019 to 07 August 2020.
*** Mr Rayner was employed as COO from 26 November 2018 to 19 July 2019.
NOTE: "Net change other" above includes the balance of shares held on appointment / resignation, shares issued in lieu of authorised bonuses,
and shares acquired or sold for cash on similar terms and conditions to other shareholders.
PERFORMANCE SHARES
The table below shows how many performance shares were granted and vested during the year. No performance shares were
forfeited during the year.
All other directors and key management personnel did not hold any shares in the Company at the start, during or at the end of the
year. There were no shares held nominally as of 30 June 2020 (2019: nil).
Option holdings
KMP
Expected
vesting date
Grant date
S
3 Lingo
B Lingo
30/06/2022
12/06/2020
Grant
number
900,000
Exercise
price
Number
vested
Value per PS at
grant date*
Balance on 30
Directors/
Balance at
June 2020
Key
1 Jul 2019
Granted as Options
remuneration exercised
$0.03
900,000
12/06/2025
12/06/2020
1,800,000
$0.02
1,800,000
management
personnel
Net
change
other
Balance at
30 Jun 2020
Total
vested
Total
vested and
exercisable
Total
unvested
and un-
exercisable
B Lingo
31/03/2021
12/06/2020
1,350,000
$0.03
1,350,000
N Mather
1,500,000
B Lingo
31/12/2021
12/06/2020
1,350,000
$0.03
1,350,000
S Bizzell
1,500,000
B Lingo
31/12/2021
12/06/2020
900,000
$0.03
900,000
R Sleeman
750,000
BLin
B Lingo
30/06/2023
12/06/2020
900,000
7,200,000
$0.03
900,000
R Cressey (*)
4,100,000
7,200,000
K Schlobohm
900,000
8,750,000
(908,803)
4,776,505
(750,000)
(4,100,000)
591,197
6,276,505
591,197
6,276,505
591,197
6,276,505
(982,298)
900,000
7,767,702 7,767,702
900,000
900,000
7,767,702
* With the exception of tranche 2, value per performance share at grant date is calculated using the share price at the date of issue. Tranche
2 contains a market based performance conditions and the value per performance share at grant date is calculated using a Monte Carlo
simulation model, which takes into account factors such as the market based vesting condition, the share price at the date of issue and volatility
of the underlying share price and the time to maturity of the performance share.
SHARES ISSUED ON EXERCISE OF REMUNERATION OPTIONS
There were no options exercised during the year that were previously granted as remuneration (2019: nil).
* Mr Cressey was employed from 21 November 2011 to 23 October 2019.
Note: "Net change other" above includes the balance of options held on appointment / resignation, options acquired or sold for cash on similar
terms and conditions to other shareholders, and options that have expired unexercised.
All other directors and key management personnel did not hold any options in the Company at the start, during or at the end of the
year. There were no options held nominally on 30 June 2020 (2019: nil).
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