Lendlease Annual Report 2022

94 Lendlease Annual Report 2022 New Executive Appointments in FY22 Frank Krile Frank Krile was appointed to the Group Chief Risk Officer role from 1 July 2021. Frank’s Maximum Total Remuneration was set in line with the FY22 Executive Remuneration Strategy approach and is as follows: A$’000 Fixed remuneration Maximum STA Maximum LTA Maximum total remuneration 1,000 1,120 1,440 3,560 The remuneration mix for the Group Chief Risk Officer has been structured differently to other Executives, with a lower proportion of STA and LTA, to support the independence of this role. Simon Dixon Simon Dixon was appointed to the Group Chief Financial Officer role from 1 October 2021. Simon’s Maximum Total Remuneration was set in line with the FY22 Executive Remuneration Strategy approach and is as follows: A$’000 Fixed remuneration Maximum STA Maximum LTA Maximum total remuneration 1,000 1,400 1,800 4,200 Simon was also issued a sign-on award in recognition of the unvested awards forfeited upon resignation from his previous employer. The details of the sign-on award are as follows: A$’000 Value Delivered as Vesting date 100 Cash September 2022 200 Deferred securities September 2022 300 The sign-on award is subject to continued employment and malus consideration. The Board retains the discretion to reduce or forfeit the sign-on award if it considers that vesting will result in the participant receiving a benefit that would be unwarranted or inappropriate. Bespoke Incentive Award Denis Hickey Denis Hickey has been issued a one–off incentive aligning to the successful delivery of Google Development Ventures (GDV) over the next three years, recognising the criticality of this project. The Bespoke Incentive reflects a $5,000,000 grant in Performance Rights over a three year performance period from 1 July 2021 to 30 June 2024. • 70% of Performance Rights will vest based on the achievement of the key milestones for GDV during the performance period, including the securing of entitlements and capital plans and the commencement of construction for each project. • 30% of Performance Rights will vest based on customer satisfaction feedback from the client and internal stakeholders at key touchpoints in the project life cycle, so that GDV milestones are not only delivered within the required timeframes but also to an exceptional standard. • There is no retesting on any portion of the Bespoke Incentive that does not vest. The Board retains an overarching discretion to reduce or forfeit any unvested awards if it considers that the vesting of the awards would result in receipt of a benefit that was unwarranted or inappropriate. Performance Rights do not carry dividend rights. For full details of the key terms of the incentive, refer to the Appendix 3G lodged with the ASX on 1 April 2022.