Proxy adviser Ownership Matters recommended Super Retail Group shareholders vote against a proposal to award its chief executive with performance rights because the conditions linked to their vesting are too easy to meet.
Anthony Heraghty is in line to receive 101,066 rights, each equivalent to one share, at the October 24 annual general meeting for the owner of retailer chains Supercheap Auto, Rebel and BCF.
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clarification —
This story was updated to reflect current market consensus for Super Retail’s cumulative earnings per share.
Carrie LaFrenz is a senior journalist covering retail/consumer goods. She previously covered healthcare/biotech. Carrie has won multiple awards for her journalism including financial journalist of the year from The National Press Club. Connect with Carrie on Twitter. Email Carrie at carrie.lafrenz@afr.com
Vesna Poljak is the Companies editor. She was previously the Markets editor with a special interest in the investment industry, hedge funds and accounting. She is based in the Sydney newsroom. Connect with Vesna on Twitter. Email Vesna at vpoljak@afr.com
