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LONDON - Headlam Group (LON:HEAD) plc, a leading floorcovering distributor, announced today the grant of performance-based share awards to two of its executive directors. The awards were made under the company’s Performance Share Plan (PSP) and involve nil-cost options over a total of 1,238,535 ordinary shares.
Chris Payne, Chief Executive, received options over 741,285 shares, while Chief Financial Officer Adam Phillips was awarded options over 497,250 shares. These grants were made on April 17, 2025, and are contingent on several performance metrics outlined in the company’s 2024 Annual Report and Accounts.
The vesting of these awards is dependent on the executives’ continued employment and the achievement of specific performance conditions over a three-year period. These conditions include Earnings Per Share (EPS) performance, which accounts for 70% of the evaluation criteria, relative Total (EPA:TTEF) Shareholder Return (TSR) performance compared to the FTSE SmallCap Index constituents, excluding investment trusts (20%), and a reduction in greenhouse gas emissions (10%).
An additional underpin performance condition requires that the vesting level reflects the overall financial performance of Headlam Group over the same period. The company’s Remuneration Committee retains full discretion to adjust the outcome to prevent unwarranted windfall gains.
Furthermore, the PSP awards granted to the executive directors are subject to a two-year holding period following vesting, during which time they will accrue a dividend equivalent in the form of additional shares, should the awards vest. These awards are also subject to the malus and clawback provisions outlined in the PSP.
This grant of awards represents an effort by Headlam Group to align the interests of its key executives with those of its shareholders by tying compensation to the company’s performance in both financial terms and sustainability efforts.
The information for this report is based on a press release statement from Headlam Group plc.
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