EROAD grants performance share rights to key personnel

EROAD Limited has issued 39,387 unquoted Performance Share Rights (PSRs) under its 2024 Grant as part of the company's Long Term Incentive Plan. These PSRs, which have a set exercise price of NZD 0, are convertible to EROAD ordinary shares. This issuance aims to incentivise employees through performance-based awards.

The PSRs are structured into three tranches, each with distinct vesting conditions. The first tranche vests upon the participant remaining employed until March 31, 2026. The second tranche is tied to EROAD's Total Shareholder Return (TSR) performance relative to the S&P/ASX All Technology Index for the period ending after the release of its March 2026 results. The third tranche vests based on EROAD's absolute financial performance, assessed against revenue, EBIT, and free cash flow targets for the fiscal years ending March 2024, 2025, and 2026.

Following this issue, EROAD now has a total of 5,468,212 PSRs on issue, including grants from FY24, FY25, and FY26. The share rights are non-transferable and do not confer dividend or voting rights but allow for additional shares upon conversion to reflect dividends paid prior to exercise.