Westpac Confirms: CEO's 2022 Long-Term Reward Rights Cease

Westpac Banking Corporation (WBC) has disclosed the cessation of 70,271 Share Rights (ASX code: WBCAB) as of November 6, 2025. This notification indicates that the conditional rights lapsed because the associated conditions were not met or became incapable of being satisfied.

The cessation relates to the 2022 Long Term Variable Reward performance rights, where a portion lapsed for key management personnel (KMP). Westpac confirmed that no consideration was paid by the entity for this cessation. Following this event, the total number of unquoted Share Rights (WBCAB) on issue stands at 4,422,423.

Westpac's issued capital now comprises various quoted and unquoted securities. Notable quoted securities include 3,420,353,305 Ordinary Fully Paid shares (WBC) and various capital notes and instruments, along with $1,250,000,000 in unquoted fixed rate reset perpetual subordinated convertible securities (WBCAC).