Orthocell seeks shareholder approval for CEO performance rights and termination benefits

Orthocell Limited (ASX:OCC) has issued a supplementary notice for its annual general meeting on November 6, 2025, to seek shareholder approval for two additional resolutions. Resolution 10 proposes the issuance of short-term performance rights to Paul Anderson, the managing director and CEO, or his nominee(s). These rights, part of his remuneration package for the financial year ending June 30, 2026, are valued at A$60,703, with a nil exercise price and a three-year expiry, conditional on Resolution 3 (plan approval) also passing. The number of rights will be determined by dividing the A$60,703 by the 10-day VWAP of shares prior to the meeting.

Resolution 11 addresses the approval of potential termination benefits related to these short-term performance rights for Paul Anderson, in compliance with Listing Rule 10.19 and sections 200B and 200E of the Corporations Act. This approval is sought to ensure that potential benefits, including board discretion to waive vesting conditions or permit unvested rights to vest upon cessation of employment, can be provided, even if they exceed the 5% threshold of the entity's equity interests. The estimated average value of each short-term performance right is A$1.46.