You want to reward both the activities which you believe have the highest potential to drive good outcomes - and the outcomes themselves. Why? Because sometimes the outcomes don't happen by no fault of the person doing the activity, so you want to reward that. That said, just rewarding the activity and not the outcome doesn't put the right emphasis on making the outcome happen. So, put about 33% of the reward on the activity and 66% on the outcome.

And make the payout structure simple and clear. Tying it back as a percentage of salary, tiered against % accomplished, is a good one. Also, consider payiny twice a year instead of just once. One payment could be cash, the other could be equity, say. This keeps focus on the outcomes top of mind.