Highlights

  • Paragon Care Limited (ASX:PGC) has lodged an updated Appendix 3Y disclosure concerning a director's security holdings.
  • The notice relates to a change in performance rights previously granted under the company's incentive arrangements.
  • Director Carmen Riley's ordinary shareholding in the company remains unchanged.
  • The filing outlines the director's holdings both before and after the reported change, along with related disclosure requirements.

Paragon Care Limited (ASX:PGC) released a Change of Director's Interest Notice on 28 August, a standard form of disclosure required under the ASX Listing Rules whenever a director's holding of the company's securities changes. The notice, dated for a change occurring on 28 August 2026 and referencing a last notice date of 3 July 2026, concerns the interests of director Carmen Riley. Appendix 3Y filings of this kind are intended to provide the market with transparency around directors' dealings in, or exposure to, company securities, and they are lodged irrespective of whether the change arises from an on-market transaction, an off-market arrangement, or, as in this instance, the lapsing of previously granted rights.

Details of the Change

According to the notice, the change in Carmen Riley's holdings arose from the lapsing of 2,247,877 Performance Rights that had been held pursuant to Paragon Care's Employee Incentive Plan. Performance rights are a common form of equity-based incentive used by listed companies to align management and director interests with company performance over a vesting period; they typically convert into ordinary shares only if specified performance or service conditions are met, and they lapse — rather than convert — when those conditions are not satisfied or when other plan rules apply. The notice confirms that this was the nature of the change, distinguishing it from a sale, transfer, or on-market Acquisition of securities.

Director's Remaining Holdings

Before the reported change, Carmen Riley held 2,538,888 Ordinary Shares and 13,477,163 Performance Rights, all on a direct basis. Following the lapse of the 2,247,877 Performance Rights, the holding of Ordinary Shares remains unchanged at 2,538,888, while the Performance Rights balance has reduced to 11,229,286. The notice specifies that the relevant interest is held directly by the director, meaning the securities are registered in her own name rather than through an associated entity or nominee structure. No change was recorded to the ordinary share component of the holding, indicating that the adjustment was confined entirely to the performance rights component of the director's overall interest in the company.

Regulatory Context

Appendix 3Y notices form part of the continuous disclosure framework that ASX-listed companies operate under, ensuring that shareholders and the broader market are kept informed of movements in directors' security holdings on a timely basis. The notice also addresses two standard disclosure items: whether the director traded during a period when clearance would ordinarily be required, and whether any contracts affecting the director's interests were altered, as would be reported under Part 2 of the form. In this instance, the notice indicates no such trading during a closed period and no reportable changes to contracts under Part 2, meaning the disclosure is limited to the straightforward lapsing of performance rights described above. Filings of this nature are routine within the governance obligations of listed entities and are intended to preserve transparency rather than signal any operational or trading decision by the company itself.

Key Takeaways

This Change of Director's Interest Notice reflects a routine adjustment to director Carmen Riley's incentive-related holdings in Paragon Care Limited, arising from the lapse of a portion of previously granted performance rights under the company's Employee Incentive Plan. Her direct holding of ordinary shares is unaffected, while her performance rights balance has reduced accordingly. The disclosure illustrates the ongoing governance and reporting obligations that ASX-listed companies and their directors observe, and it does not, on its own, reflect a trading decision or a change in the company's underlying Business operations.