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HORSHAM, UK - Ceres Power Holdings plc (LSE:CWR), a clean energy technology developer, announced Thursday it has granted Long Term Incentive Plan share options to two senior executives.
Chief Executive Officer Philip Caldwell received 1,250,893 share options, while Chief Financial Officer Stuart Paynter was granted 700,500 options, according to a company statement.
The LTIP awards, issued on June 26, carry a nominal exercise price of 10 pence per share, matching the ordinary share value. Vesting depends on meeting commercial and share price targets over a three-year performance period, followed by an additional two-year holding requirement.
The options represent a potential value of £125,089.30 for Caldwell and £70,050.00 for Paynter at the nominal exercise price.
Ceres Power, which develops fuel cell technology for power generation and electrolysers for green hydrogen production, operates through an asset-light licensing model with partners including Doosan, Delta, Denso, Shell, Weichai and Thermax (NSE:THMX).
The company made the disclosure in accordance with UK Market Abuse Regulation requirements. The London Stock Exchange (LON:LSEG) has recognized Ceres with its Green Economy Mark, indicating that more than 50% of the company’s activities derive from the green economy.
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