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LONDON - Alfa Financial Software (ETR:SOWGn) Holdings PLC disclosed on Monday that it has awarded conditional share awards to two of its top executives under its Long Term Incentive Plan (LTIP) and Deferred Bonus Share Plan (DBSP).
The LTIP awards granted on Monday, April 14, 2025, are set to vest on April 18, 2028, and are tied to performance conditions. Chief Financial Officer Duncan Magrath received 228,165 shares, while Chief Operating Officer Matthew White was granted 122,669 shares. No payment was required for the grant of these awards.
Additionally, under the DBSP, Magrath and White were awarded 33,636 and 26,889 shares, respectively. These shares, part of their annual bonuses, are subject to restrictions and a risk of forfeiture until April 14, 2028. The company’s policy mandates that at least 50% after tax of any annual bonus to Executive Directors is deferred into shares under the DBSP.
Both executives have informed Alfa Financial that they will transfer shares to their respective spouses for no consideration, a move approved by the Remuneration Committee. Magrath transferred 33,636 shares to his spouse, Nicola Magrath, and White transferred 26,889 shares to Polly White, on Tuesday, April 15, 2025.
The transactions take place outside of a trading venue and are part of the company’s ongoing efforts to align the interests of its leadership with those of its shareholders through performance-based incentive systems. The company has a history of implementing such plans to encourage executive performance that contributes to long-term value creation.
The information regarding these transactions has been released in compliance with the UK Market Abuse Regulation, ensuring transparency and adherence to regulatory standards.
Alfa Financial Software Holdings PLC specializes in delivering software systems and consultancy services to the global asset and automotive finance industry, with a track record of successful software implementations and business change projects. With Alfa Systems, their leading technology platform, they serve a wide range of finance companies across multiple jurisdictions.
This report is based on a press release statement from Alfa Financial Software Holdings PLC.
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