Performance Rights
The most common equity incentive payment vehicle in Australia, representing a right to receive a share or cash payment of equivalent value at a future date, provided specific performance hurdles are met. Performance rights are equivalent to PSUs. Some companies and remuneration advisers incorrectly label all share rights as Performance Rights. If not subject to specified performance requirements, a share right is not a Performance Right. The first ASX 20 application in Australia was introduced by one of Guerdon Associates’ founders, in 1997.
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