Codan Limited (ASX:CDA) has issued 63,878 unquoted performance rights to key management personnel Alfonzo Ianniello, according to an Appendix 3G filing lodged with the ASX on 3 November 2026. The securities were issued under the company's employee incentive scheme and are subject to a restriction on transfer until the restriction period ends.

Key Points

  • 63,878 performance rights (ASX code: CDAAI) were issued to Alfonzo Ianniello on 3 November 2026
  • The issue was approved at the 2026 AGM under Resolution 5 as a long-term incentive (LTI)
  • Securities are unquoted and subject to a restriction on transfer until the restriction ends
  • Following the issue, total CDAAI performance rights on issue stand at 1,014,736

Performance Rights Issue Details

Codan Limited disclosed the issue of 63,878 performance rights under the ASX security code CDAAI, with an issue date of 3 November 2026. The securities were issued to key management personnel Alfonzo Ianniello, who is also the registered holder of the securities. According to the filing, the performance rights rank equally in all respects from their issue date with the existing issued securities in that class. The securities are classified as unquoted and are not being quoted on ASX until the applicable restriction on transfer ends.

AGM Approval and Incentive Scheme

The filing states the performance rights were issued as approved at the 2026 Annual General Meeting under Resolution 5, forming part of the company's long-term incentive arrangements. Security holder approval for the issue was obtained under ASX Listing Rule 7.1 at a meeting held on 20 October 2026. The securities were issued under Codan's employee incentive scheme, the terms of which were lodged separately with the ASX. The filing confirms the issue did not rely on the Listing Rule 7.2 exception, with shareholder approval secured ahead of the issue.

Securities on Issue Following the Transaction

Following the issue of the 63,878 performance rights, Codan's total CDAAI performance rights on issue stand at 1,014,736. The company also has 3,896 NED rights (CDAAB) on issue as unquoted securities. Quoted ordinary fully paid shares (ASX: CDA) on issue total 182,321,998, according to the filing. The filing noted that the figures in the securities on issue section are automatically generated and may not reflect the entity's current issued capital if other forms are currently with ASX for processing.