REMUNERATION REPORT Continued Additional remuneration In addition to standard remuneration arrangements, Mr King and Mr Winstanley were provided with additional equity as part of their original contract terms. The grants of Alignment Equity were designed to create animmediate alignment between Messrs King and Winstanley and shareholders. The allocation value was based on the five day VWAP prior to the announcement of their appointment. The rights will vest in equal monthlytranches, over three years, with the performance period beginning on the date of their commencement. At the end of the performance period the rights will convert to ordinary shares. The treatment of performance rights on cessation of employment will depend on the circumstances of cessation. When employment ceases for resignation or termination for cause, allunvested rights will automatically lapse. In other circumstances, unvested rights will continue to vest in equal instalments over the performance period and be automatically exercised on the original exercise date.Note that ifachange of control occurs, the unvested rights will vest immediately and will be automatically exercised. Any vested but unexercised rightswill also be automatically exercised. In FY2018, KMP and other senior executives received a grant of performance rights. Theawards granted may deliver value to executives at the end of the three year Performance Period, subject to satisfaction of performance hurdles as set out in the table below. The following table summarises the FY2018performance rights granted to KMP during the year. Total value of performance Valuation of each Number of End of rights at grant performance right performance Exercise Applicable Performance Name date $(1) at grant date $(2) rights granted price hurdles Period J King(3) 900,000 0.29 2,432,432 nil Service 4 Jun 2021 N Chadwick 450,000 0.47 340,909 nil ROFE 25Jul2020 0.21 170,454 nil TSR 25 Jul 2020 0.47 170,455 nil EPS 25 Jul 2020 M Cripsey(4) 366,000 0.47 277,272 nil ROFE 25 Jul 2020 0.21 138,636 nil TSR 25 Jul 2020 0.47 138,637 nil EPS 25 Jul 2020 A Sutton 396,000 0.47 300,000 nil ROFE 25 Jul 2020 0.21 150,000 nil TSR 25 Jul 2020 0.47 150,000 nil EPS 25 Jul 2020 A Winstanley(5) 250,000 0.35 555,555 nil Service 25 Jun 2021 Former Disclosed Executives R Umbers(6) 1,080,000 0.47 818,181 nil ROFE 25 Jul 2020 0.21 409,090 nil TSR 25 Jul 2020 0.47 409,092 nil EPS 25 Jul 2020 G Devonport(7) 846,000 0.47 640,909 nil ROFE 25 Jul 2020 0.21 320,454 nil TSR 25 Jul 2020 0.47 320,455 nil EPS 25Jul 2020 (1) Total value at the time of grant is based on the 5-day VWAP immediately prior to allocation. (2) The valuation is calculated in accordance with AASB 2 Share Based Payment. (3) Mr King received a grant of share rights on appointment. The allocation value of the share rights was calculated based on ashare price of $0.37, which was the VWAP from 16 April 2018 to 20 April 2018. The rights will vest on a monthly basis from 4 June 2018 to 4 June 2021. (4) Mr Cripsey’sgrant of performance rights relates to his previous role as Chief Digital & Data Officer, prior to his promotion to KMP. (5) Mr Winstanley received a grant of share rights on appointment. The allocation value of the share rights was calculated based on a share price of $0.45, which was the VWAP from 17 May 2018 to 23 May 2018. The rights will vest on a monthly basis from 25 June 2018 to 25 June 2021. (6) Mr Umbers stepped down as CEO and Managing Director on 14 February 2018. The performance rights in this table held by Mr Umbers lapsedwhen his notice period concluded on 31 July 2018. (7) Mr Devonport stepped down as Chief Financial Officer on 28 January 2018.The performance rights in this table held by Mr Devonportlapsed when his notice period concluded on 21 March 2018. Myer Annual Report 2018 39