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LONDON - Ashtead Technology Holdings plc (AIM:AT.), a provider of subsea technology solutions to the offshore energy sector, announced Thursday it has conditionally granted long-term incentive awards covering 332,885 new ordinary shares to various employees.
The awards, representing approximately 0.41% of the company’s issued ordinary share capital, were granted at nil cost under the 2023 Long Term Incentive Plan that was approved at the company’s annual general meeting on June 8, 2023.
According to the press release statement, the awards were made in the ordinary course of business and align with prior year awards. The reference price used to determine the awards was £5.43, based on the five-day average period prior to the announcement of the company’s 2024 full year results on March 25, 2025.
The incentive awards will vest in a single tranche following a three-year performance period, not earlier than the release of the company’s annual report for the year ending December 31, 2027. The vesting criteria include three performance metrics: 50% linked to achieving target compound annual growth in Adjusted Earnings Per Share, 25% tied to average Return on Invested Capital (ROIC), and 25% based on total shareholder return relative to the Deutsche Numis Smaller Companies Index + AIM Index (excluding Investment Companies).
Chief Executive Officer Allan Pirie received awards covering 117,782 shares, while Chief Financial Officer Ingrid Stewart received awards for 66,471 shares. Both awards include dividend equivalent rights.
The company noted that all awards are subject to clawback provisions.
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