Business Context and Reporting Period
This Form 6-K filing by Gold Fields Limited (GFI) covers the period ending June 19, 2009. The report discloses a material transaction regarding the granting of equity-based compensation to a senior executive in compliance with JSE Listings Requirements.
Key Financial Metrics
The filing does not provide financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on a specific securities transaction.
Material Changes and Transactions
On June 1, 2009, Gold Fields Limited granted equity incentives to Mr. P A Schmidt, Chief Financial Officer. The grant was accepted on June 19, 2009. The specific details are as follows:
- Share Appreciation Rights (SARS): 8,220 units granted with a fixed strike price of R103.78. These vest after three years and can be exercised for an additional three years. Settlement may be in shares or cash at the Company's discretion.
- Performance Vesting Restricted Shares (PVRS): 7,790 units granted with a zero strike price. Vesting is contingent on performance criteria measured over three years, specifically targeting a percentage of expected gold production. The number of shares settled may increase by up to 300% based on peer group performance.
Guidance, Outlook, and Risks
The filing contains no management commentary, financial guidance, or outlook for future periods. It does not disclose specific risks or contingencies beyond the standard performance conditions attached to the PVRS grant.
Investor Verification Checklist
- Verify the total number of SARS (8,220) and PVRS (7,790) granted to the CFO.
- Confirm the SARS strike price of R103.78 and the zero strike price for PVRS.
- Review the specific performance criteria for PVRS, particularly the gold production targets and peer group comparison metrics.
- Check subsequent filings for the actual vesting and settlement outcomes of these instruments.