Saunders International Limited (ASX:SND) has disclosed a change in the relevant interests of director Angelo De Angelis, following the grant of performance rights under the company's FY27 Long-Term Variable Remuneration program and the lapse of previously held performance rights and share options, effective 3 November 2026.

Key Points

  • Director Angelo De Angelis acquired 415,392 performance rights under the FY27 LTVR program, as approved by shareholders at the 2026 Annual General Meeting.
  • 44,127 performance rights and 125,000 share options lapsed because conditions were not, or became incapable of being, satisfied.
  • Following the changes, De Angelis holds 95,658 fully paid ordinary shares and 1,164,712 performance rights.
  • All transactions carried a nil consideration value, with the change occurring on 3 November 2026.

FY27 LTVR Performance Rights Grant to Angelo De Angelis

According to the filing, 415,392 performance rights were granted to director Angelo De Angelis under the FY27 Long-Term Variable Remuneration program. The filing states this grant was approved by shareholders at the 2026 Annual General Meeting. The interest is held directly by De Angelis, with no indirect interest or registered holder disclosed. The consideration for the acquisition of the performance rights was noted as nil. The previous notice for De Angelis was dated 28 November 2025, with the current change recorded on 3 November 2026.

Lapse of Performance Rights and Share Options

The filing discloses that 44,127 performance rights and 125,000 share options held by De Angelis lapsed on 3 November 2026. The stated reason for the lapse is that the applicable conditions had not been, or had become incapable of being, satisfied. Prior to the changes, De Angelis held 95,658 fully paid ordinary shares, 793,447 performance rights, and 152,640 share options. No consideration was received in connection with the lapse of these securities, and no contract interests were disclosed in Part 2 of the filing.

Securities Held Following the Change

Following all changes recorded on 3 November 2026, De Angelis holds 95,658 fully paid ordinary shares and 1,164,712 performance rights. The filing confirms that the fully paid ordinary share holding remained unchanged throughout this process. No share options are listed among the securities held after the change, reflecting the lapse of the 125,000 share options previously on record. The filing further confirms that the interests in securities were not traded during a closed period, and no prior written clearance was required or sought in relation to these transactions.