The Board of ASX has decided to make changes to its short term variable reward (STVR) and long term variable reward (LTVR) arrangements so as to enhance the flexibility that the Board has to structure them.
To support the changes, the provisions in Ms Lofthouse’s contract of employment relating to her STVR and LTVR rewards are being amended with effect from today, 27 September 2023. The amendments to Ms Lofthouse’s contract will allow the Board flexibility to determine her LTVR and STVR in accordance with the relevant plans, which may be replaced or amended from time to time at the Board’s discretion. These changes support the proposed LTVR for Ms Lofthouse as set out in the 2023 ASX Notice of Annual General Meeting released on 15 September 2023.
At all times, these variable reward arrangements will be subject to ASX’s Remuneration Adjustments Policy
