Antofagasta PLC grants new LTIP awards to senior executives

LONDON - Antofagasta (LON:ANTO) PLC, a UK-based mining company, has announced the grant of long-term incentive plan (LTIP) awards to its senior executives. The awards, which are tied to the company’s ordinary shares, were granted on Monday, March 29, 2025, to various Persons Discharging Managerial Responsibility (PDMRs) within the company.

The LTIP awards are designed to align the interests of Antofagasta’s senior executives with those of its shareholders, as well as with the company’s strategic long-term plan. A total of 303,919 performance awards and 130,239 restricted awards were granted, with the CEO, COO, CFO, and several vice presidents among the recipients.

Performance awards are contingent on meeting certain performance conditions by December 31, 2027, and continued employment, with vesting scheduled for three years post-grant date. Restricted awards are also tied to continued employment and are set to vest in equal parts over three years starting from March 2026.

Additionally, the company disclosed that restricted awards granted in previous years vested on March 29, 2025. These awards, based on the LTIP from 2022, 2023, and 2024, resulted in cash payments to the executives based on the market value of the shares at the time of vesting, which was £17.9983 per share. The total cash received by PDMRs for vested awards on this date amounted to £1,853,963 across the three grant years.

The company’s CEO, Iván Arriagada, received the largest payout from the performance awards vested from the 2022 LTIP, amounting to £948,258. This was part of a total of £3,140,433 received by all PDMRs under performance awards that vested based on a 100% overall performance score.

These transactions were executed outside of a trading venue and are part of Antofagasta’s strategy to incentivize its management team in accordance with the company’s performance and growth objectives.

The announcement is made in compliance with the UK Market Abuse Regulation, which requires public disclosure of transactions by PDMRs. It reflects the company’s commitment to transparency and good corporate governance practices.

This news is based on a press release statement from Antofagasta PLC.

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