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LONDON - H&T Group (LON:HTGR) PLC (AIM:HAT), a leading pawnbroker, announced the adoption of its 2025 Performance Share Plan (PSP) for senior management and Executive Directors, as approved by its Remuneration Committee. The PSP aims to incentivize top executives by allowing them to acquire shares at no cost, contingent on meeting specific performance targets.
Under the new plan, Executive Directors may receive shares amounting to 125% of their base salary, with CEO Christopher Gillespie eligible for 118,177 shares and CFO Diane Giddy for 85,773 shares. Senior management may receive between 35% and 75% of their base salary in shares. The total value of shares granted is anticipated to reach around £1.7 million, translating to roughly 470,052 shares.
The performance period for the 2025 PSP spans from January 1, 2025, to September 30, 2027, a total of 33 months. Vesting is scheduled for April 2028, provided that the company achieves predetermined growth targets in total shareholder return (TSR) and basic earnings per share (EPS). These targets are set at minimum, target, and maximum thresholds, with a sliding scale of vesting between these points. No shares will vest if performance is below the minimum threshold.
To vest at the minimum level, the company must achieve 30% growth, with 50% vesting at the target growth, and full vesting at 100% growth. These figures align with the 2024 performance conditions. Additionally, Executive Directors will be subject to a two-year share retention period after the shares are awarded.
The awarding of shares is also conditional upon continuous employment and the fulfillment of the performance criteria. Furthermore, the awards include clawback and malus provisions, which allow the company to retract or adjust the awards under certain circumstances.
This announcement is based on a press release statement from H&T Group PLC. The PSP is designed to align the interests of the company’s leadership with those of its shareholders by tying rewards closely to the company’s financial success.
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