Tivan Limited announced on 6 June 2025 that its Executive Chairman, Mr Grant Wilson, has extended his term until 28 November 2028. This move reinforces continuity at a pivotal time as the company transitions into its project development phase following a period of reset, review, and renewal. Mr Wilson, who has been instrumental in transforming the company and establishing its strategic direction in northern Australia, has previously received a term extension until November 2025. His leadership has been a key factor in significant milestones, including the forging of a binding joint venture with Sumitomo Corporation to develop the Speewah Fluorite Project. The company has also confirmed revised compensation arrangements for Mr Wilson after a thorough review compared to industry peers. Effective 1 July 2025, his base salary will increase from $350,000 to $400,000 per annum, excluding superannuation. In addition, and subject to shareholder approval to be sought at the 2025 Annual General Meeting, Mr Wilson is set to receive 3 million performance rights as a short-term incentive and 6 million performance rights as a long-term incentive. These performance rights are structured as “100% at risk” components, directly linking his rewards to Tivan Limited’s share price performance and ensuring his incentives remain closely aligned with shareholder interests. The details of the performance rights reveal a set of technical parameters for both short-term and long-term incentives. For the short-term incentive, Mr Wilson will be granted 3 million rights, with conversion calculated using a formula based on the company’s volume weighted average share price (VWAP) over 20 sequential trading days between 1 January 2026 and 30 June 2026, minus a benchmark of 10 cents, capped at a maximum benchmark of 15 cents. Vesting is contingent on the VWAP exceeding 10 cents and Mr Wilson’s continued employment by 1 July 2026. The long-term incentive is divided into three classes of 2 million performance rights each, with conversion formulas based on VWAPs during distinct half-year periods between 2027 and 2029 and respective pricing thresholds of 15 cents, 20 cents, and 25 cents. Each class features its own cap on share conversion and specific vesting conditions tied to Mr Wilson remaining in the company at predetermined future dates, with exercise windows designated in the months following the vesting dates. The Board’s decision to extend Mr Wilson’s contract and adjust his compensation package reflects a broader effort to align executive leadership with shareholder value while maintaining operational stability. Additionally, the Board is evaluating compensation arrangements for management and non-executive directors to ensure company-wide alignment with strategic objectives. There is a bullish sentiment embedded in these developments as the extension of Mr Wilson’s tenure is expected to provide certainty and strength during Tivan Limited’s critical development stages. The well-structured performance rights linked directly to share price performance are designed to incentivize strong operational results and value creation, which may be appealing to investors. Conversely, some caution might be warranted as the performance rights are contingent on achieving specific share price thresholds and the extensions rely on future shareholder approvals. Additionally, the potential dilution from share issuances upon exercise of the performance rights could be viewed as a bearish factor for those concerned about immediate share value impacts.