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LONDON - discoverIE Group plc (LSE:DSCV), a designer and manufacturer of customized electronics, announced Wednesday that it granted stock options to two executives under its incentive plans.
The company awarded Chief Executive Nick Jefferies 141,822 shares under its Long-Term Incentive Plan (LTIP) and 12,997 shares under its Deferred Share Bonus Plan (DSBP). Chief Financial Officer Simon Gibbins received 84,872 LTIP shares and 7,086 DSBP shares.
According to the press release, the LTIP awards will vest on June 12, 2028, contingent on meeting performance targets over a three-year period. Vested options will be subject to an additional two-year holding period.
The DSBP awards represent 20% of each director’s bonus entitlement for the fiscal year ended March 31, 2025, and will also vest in June 2028.
Gibbins received an additional 7,956 options to offset his contribution toward the company’s employers’ National Insurance obligations that will arise upon exercise, ensuring tax neutrality.
All options were granted for nil consideration on June 11, 2025, as part of the company’s executive compensation structure.
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