Remember this from an AR
"Generally, the shares under the 2017 LTIP Scheme will be eligible to vest if, at the vesting date (which is the business day after release of the financial statements for the year ended 31 May 2020), the participant remains employed by Oceania and the performance hurdles are achieved. The performance hurdles require Oceania’s performance to meet, or exceed, an underlying Earnings per Share Compound Annual Growth Rate ("EPS CAGR") of 35% per annum or greater, over the three year period to 31 May 2020."
I don’t think the ‘rules’ have changed.
My calculations reckon that hurdle is Underlying Earnings of 13.8 cents/share or about $84m for this year ended 31May.
Forecasts by some on this thread suggest a big fail coming up
So no shares under the 2017 LTIP ....bugger for Earl.
But you never know ...corporates these are soft as will probably say there’s been extenuating circumstances and Earl and his team have done a stupendous job so we will fix him up somehow.
Aligning managers interests with shareholders eh.