Myer (ASX:MYR) has approved performance rights to their CEO and Managing Director, John King, for the 2021 and 2022 financial years, with certain adjustments to more closely align them with the terms of the 2023 grant.
These adjustments include that, provided King remain employed until certain dates, his awards will vest in accordance with the long-term incentive plan and not be subject to forfeiture.
The performance hurdles must still be met, but the changes mean the vesting of awards will occur immediately following the end of the performance period.