Directors’ Report
Transformation, simplification and employee engagement
42.0%
39.0%
FY24 focus was on delivery to approved baseline (scope, cost, schedule, quality) - strategic projects and uplift. Employee Engagement survey participation and results.
Enhancement and build out of technology platform progressed significantly with completion of back-end functionality and commencement of migration project. Employee Engagement survey participation was high with initiatives launched to support the uplift in leadership capability and focus of succession planning of critical roles. Significant progress was made in the exit of wealth management businesses.
Shareholder management and engagement The focus for FY24 was on growing shareholder base, extending coverage, delivering high quality investor experiences including Investor Roadshows and conferences.
6.0%
7.5%
Expanded engagement, and broadening out of shareholder base and analyst coverage. This is reflected in the improved share price performance.
Overall the STVR outcomes for FY24, taking into account both the financial and non-financial measures as determined through the Board’s assessment are outlined below:
Opportunity (as % of FP less Super)
Total STVR Awarded ($)
STVR Outcome as % of Maximum
STVR Outcome as % of Target
STVR Forfeited as % of Maximum
STVR In Excess (Forfeited) as % of Target
Name
Max STVR Target STVR
N Gooderick J Beaumont
60% 36% 36% 36% 36% 36% 36% 36%
50% 325,000 30% 123,291 30% 118,170 30% 139,260 30% 108,474 30% 118,440 30% 111,930 30% 111,930
83% 100% 79% 95% 84% 101% 83% 100% 84% 101% 78% 94%
17% 21% 16% 17% 16% 22% 24% 24%
—%
(5)%
C Blaxland-Walker
1%
A Chiert J Faglioni N Kulikov H Mourad C Reece
—%
1%
(6)% (9)% (9)%
76% 76%
91% 91%
4.2 FY24 LTVR Outcomes
On 30 June 2024, the FY21 LTVR award with TSR performance hurdles reached the end of the four-year performance period and were subject to testing. The TSR vesting condition was based upon an annual compound growth rate of 25% in shareholder value (based on share price growth and dividends, assuming they are reinvested into shares) over the measurement period (1 July 2020 to 30 June 2024), with 100% of the tranche vesting on achievement of the hurdle. As at 30 June 2024, the FY21 grant achieved a target vesting at 26.28% TSR per annum, with a 100% vesting outcome.
66
ClearView Annual Report 2024
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