Equity participation plans
Further to the announcement of the review of the existing employee share plan in October 2005, Bendigo Bank is pleased to announce the following employee equity participation arrangements.
- A new loan-based limited recourse employee share plan will be introduced, for offers to be made generally to Bendigo Bank employees (excluding the senior executive team).
- A new executive equity plan will be introduced, for offers to be made to senior executives. This plan will enable the offer of a combination of performance rights and options. Both instruments will be subject to performance conditions.
- The existing loan-based limited recourse employee share plan will continue as a legacy plan only for so long as loans remain unpaid on the shares that have been issued.
Further details will be made available before the Annual General Meeting in October 2006.