TPFG rewards leadership with 920,000 share options

The Property Franchise Group has granted options over 920,000 ordinary shares to a number of executives and employees under its Share Option Plan.

The AIM-listed company, which owns Belvoir and Martin & Co, said the awards recognise the recipients’ contribution to delivering the group’s strategic objectives and are intended to align their long-term interests with those of shareholders.

Chief executive Gareth Samples has received an enhanced one-off award under the 2026 Long-Term Incentive Plan (LTIP), reflecting what the board described as his role in the group’s growth and the importance of his continued leadership over the next three years.

Samples, who has served as chief executive for more than five years, will not receive further LTIP awards in 2027 or 2028. Instead, his enhanced 2026 award will cover the three financial years to 31 December 2028 and replace the grants that would otherwise have been made during those years.

The company said the performance conditions attached to the award are intended to support the delivery of its long-term strategy.

TPFG said in a statement: “All awards will be subject to two performance conditions: total shareholder return [TSR] and adjusted basic earnings per share adjusted for exceptional income/costs, amortisation arising on consolidation and share-based payment charges [Adjusted EPS] over the three years to 31 December 2028. Each performance condition will apply to 50% of the awards being made.

“In respect of TSR, the award will be subject to absolute TSR growth of 15% to achieve threshold vesting (at which point 50% of this portion of the award will vest), rising to full vesting at 30% growth over the period.

“In respect of Adjusted EPS, threshold vesting (50%) will be achieved on adjusted EPS growth of 15% over the performance period, rising on a straight-line basis to full vesting at 30% growth.”

Straight-line vesting applies between the thresholds and all executive awards will be subject to a two-year post-exercise holding period, excluding any shares sold to meet tax liabilities on exercise. The maximum awards for the executives are stated below:

Immediately prior to these awards the company’s issued share capital was 63,752,008 ordinary shares and it had outstanding awards granted under prior incentive schemes of 2,367,000 ordinary shares.