Wesfarmers launches equity plan for non-executive directors

Wesfarmers Limited has announced the approval of a new Non-executive Director (NED) Equity Plan, enabling its NEDs to acquire Wesfarmers ordinary shares by sacrificing their pre-tax fees. This voluntary plan, effective from July 1 to June 30 each year, aims to align director and shareholder interests and help new NEDs meet shareholding qualifications. Participants can sacrifice between 20% and 100% of their annual fees, with deductions made from monthly pay runs. Shares acquired through the plan are subject to a disposal restriction period of three to 15 years.

The plan grants rights to participants on or about the tenth business day after Wesfarmers publicly releases its annual financial report, based on the volume-weighted average price of shares over the preceding ten days. Rights vest in two tranches, half after the half-yearly financial report and the remainder after the annual financial report. Upon a director's cessation, a pro-rata number of unvested rights will vest, and trading restrictions on allocated shares will be lifted within 60 days.

Several directors have already participated in the plan. Julie Ann Coates acquired 1,000 shares on November 28, 2025, for $81.24 per share, increasing her total to 4,000 shares. Alan John Cransberg was issued 908 rights on December 3, 2025, by applying 25% of his pre-tax fees for the 2026 financial year. Sharon Lee Warburton also received 1,031 rights on December 3, 2025, by applying 25% of her pre-tax fees for the 2026 financial year. Robert Geoffrey Scott was allocated 89,034 unquoted fully paid ordinary shares on December 3, 2025, comprising 44,517 Performance Shares and 44,517 Deferred Shares under his 2025 KEEPP award.