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LONDON - Cirata plc (LSE:CRTA) has granted its Chief Executive Officer Stephen Kelly a total of 2.4 million share options under the company’s Share Options Plan, according to a statement released Friday.
The award package consists of three separate option grants. The first includes 850,000 options at the nominal value of 10 pence per share, which will vest at the end of June 2027 subject to the company’s share price reaching at least 75 pence on the vesting date.
A second grant of 850,000 options comes with an exercise price of 22 pence per share and will vest quarterly through June 2027 without performance conditions.
The third grant of 700,000 options, also priced at 22 pence per share with quarterly vesting through June 2027, replaces a previous award that has been cancelled. The retired award consisted of 700,000 options with an exercise price of 86 pence per share that was originally granted when Kelly joined the company’s board in May 2023.
The company’s Remuneration Committee approved the awards, stating that long-term incentives are an important component of leadership team compensation to align with shareholder interests.
The 22 pence exercise price was determined based on the 60-day volume weighted average price to September 9, 2025, according to the press release statement.
Following these grants, Kelly now holds options over 2.4 million ordinary shares and beneficially owns 1,802,660 ordinary shares, representing 1.43% of Cirata’s total issued share capital.
All awards are subject to continued service and applicable malus and clawback provisions.
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