Saunders International Limited (ASX:SND) has issued 415,392 unquoted performance rights to key management personnel Angelo De Angelis, under the company's FY27 Long-Term Variable Remuneration program, with the securities issued on 3 November 2026.

Key Points

  • 415,392 performance rights (ASX security code: SNDAB) were issued on 3 November 2026 to Angelo De Angelis
  • The rights were granted under the FY27 LTVR program with a measurement period from 1 July 2026 to 30 June 2029
  • Vesting is subject to applicable NEPSGA vesting conditions
  • The securities are unquoted, subject to a restriction on transfer, and will not be quoted on ASX until the restriction ends
  • Following the issue, total SNDAB performance rights on issue stand at 6,228,104

Performance Rights Issue Details

Saunders International Limited disclosed the issue of 415,392 performance rights under the ASX security code SNDAB, issued on 3 November 2026. The securities were granted to Angelo De Angelis, identified as a key management personnel of the company. The filing states the securities rank equally in all respects from their issue date with the existing issued securities in that class. The issue was made under an employee incentive scheme and was executed under Listing Rule 7.2 exception 13, meaning no security holder approval was required under Listing Rule 7.1.

FY27 LTVR Program and Vesting Conditions

According to the filing, the 415,392 performance rights were granted under the company's FY27 Long-Term Variable Remuneration (LTVR) program. The measurement period for these rights runs from 1 July 2026 to 30 June 2029. Vesting of the rights is subject to the applicable NEPSGA vesting conditions, as disclosed in the filing. The terms of the employee incentive scheme are outlined in the Saunders Notice of AGM 2026, which contains a copy of the Rights Plan Rules lodged with ASX.

Securities on Issue Following the Grant

Following the issue of the performance rights, Saunders International's total quoted ordinary fully paid securities on issue stand at 139,769,039 shares under the code SND. Among unquoted securities, the company has 1,048,992 ordinary fully paid securities under SNDAI, 495,318 options expiring various dates with a nil exercise price under SNDAA, and 6,228,104 performance rights under SNDAB. The filing notes these figures are automatically generated and may not reflect the entity's current issued capital if other forms are currently with ASX for processing.