Business Context and Reporting Period
This Form 6-K filing by Gold Fields Limited, a South African incorporated entity, covers the month of March 2011. The report details compliance with JSE Limited Listings Requirements regarding the granting of equity-based compensation to directors and executives of the company and its major subsidiaries.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on the terms of a share-based compensation plan rather than operational or financial performance metrics.
Material Changes
On March 1, 2011, Gold Fields Limited granted Share Appreciation Rights (SARS) and Performance Vesting Restricted Shares (PVRS) to five individuals. These grants were accepted between March 25 and March 29, 2011. The SARS were allocated at a strike price of R119.15, based on the volume-weighted average price over the 20 trading days preceding the grant date.
Guidance, Outlook, and Management Commentary
- Compensation Structure: SARS vest after three years with a three-year exercise window thereafter. Settlement may be in shares or cash at the company's discretion. PVRS vest after three years contingent on performance criteria, with settlement ranging from 0% to 300% of the conditional award.
- Recipients: Grants were made to KFL Moabelo, PA Schmidt, TW Rowland, RM Weston, and NJ Holland.
- Risks and Contingencies: The filing notes that PVRS settlement is conditional on meeting specific performance criteria. No other material risks or unusual items are disclosed in this specific report.
Important Facts for Investor Verification
- Verify the total number of SARS granted (53,589) and PVRS granted (65,726) across all recipients.
- Confirm the strike price of R119.15 for the SARS and the nil strike price for PVRS.
- Review the specific performance criteria attached to the PVRS to understand the potential dilution range (0% to 300% of the award).
- Note that the company retains discretion to settle awards in either cash or shares.