Relative Total Shareholder Return (TSR)
A measure of performance on which Long Term Incentive (LTI) vesting is often dependent. It is usually expressed as a percentile rank among an array of comparison company TSRs. However, it can also be measured against share index return (such as the ASX 100). It was first introduced as a performance measure within an Australian ASX 20 company by one of Guerdon Associates founders in 1996, prior to its recommendation in the UK Hampel report and the UK Corporate Governance Code in 1998.
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