LONDON - Accsys Technologies PLC (AS:ACCS) (AIM: AXS, Euronext (EPA:ENX) Amsterdam: AXS), a leading supplier of sustainable wood building materials, has awarded its Chief Financial Officer, Sameet Vohra, a Long-Term Incentive Plan (LTIP) award. The announcement made today indicates that Vohra has been granted nil priced options over 401,516 Ordinary Shares.
The LTIP award is set to vest three years from the grant date, contingent on Vohra's continued employment with Accsys and the achievement of certain performance targets. Details of these performance conditions will be disclosed in the Directors' Remuneration Report for the fiscal year ending March 31, 2025. Additionally, the award is subject to a two-year holding period following the vesting.
The grant of options is part of the company's strategy to align the interests of its executives with those of its shareholders. The transaction was conducted in accordance with the rules of the Market Abuse Regulation, with Sameet Vohra being the person discharging managerial responsibilities.
The financial instrument in question consists of options over Ordinary Shares of €0.05 each, with an identification code of GB00BQQFX454. The price of the options at the time of the grant was nil, and the volume was 401,516 options.
This move by Accsys reflects a common practice among public companies to incentivize their top executives through share-based compensation schemes that reward long-term performance and commitment.
The information for this article is based on a press release statement from Accsys Technologies PLC.
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