Belvoir Group has revealed a share incentive scheme that will give its nine most senior directors share options worth collectively around £1.5m based on its current share price of £2.40p under its Belvoir Group Performance Share Plan.
The nil cost options include a total of 635,183 new ordinary shares in the company being awarded to its executive directors and members of its senior management team.
The company says that the awards ‘reflect their roles and responsibilities in determining and executing the Group strategic growth plans’.
The inventive is designed to ‘retain and incentivise the executive directors and senior management team accordingly’, according to a statement issued to investors yesterday.
The awards are subject to growth targets between now and 31 December 2023.
A floor of 16.9p per share and a cap of 22.2p per share applies to the EPS Performance Condition; these represent ambitious growth over the two and a half years of 15.8% and 52.1% respectively.
The maximum awards for directors and PDMRs are stated below:
Name Position Number of shares
subject to awards
Dorian Gonsalves Chief Executive Officer, Belvoir Group PLC 247,347
Louise George Chief Finance Officer, Belvoir Group PLC 207,122
Mark Newton Executive Director, Belvoir Group PLC 103,041
Michelle Brook Managing Director, Brook Financial Services Ltd 9,527
Philip Gee Managing Director, Northwood GB Limited 8,327
David Spackman Manging Director, Newton Fallowell Limited 6,531
Ian Maclean Franchise Director, Belvoir Property Management (UK) Limited 6,531
Tim Wood Financial Services Director, Brook Financial Services Ltd 4,580
Julie Wilson Group Financial Controller, Belvoir Group PLC 5,094
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