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LONDON - Inspired PLC (AIM:INSE), the UK’s leading energy and sustainability adviser, has announced the grant of stock options to certain directors as part of its incentive plan. The options, totaling 1,317,190, were awarded under the Inspired PLC Incentive Plan for the financial year 2023 and are exercisable from March 26, 2027, contingent upon continued employment with the company.
The options were intended to be granted in 2024 but faced delays due to regulatory restrictions under the UK Market Abuse Regulation. Following approval from the Takeover Panel, the company proceeded with the awards. The directors receiving the largest grants include Mark Dickinson with 545,693 options, Paul Connor with 395,157 options, and David Cockshott with 376,340 options.
The terms of the incentive plan stipulate that the options can be exercised at no cost, but they are subject to malus and clawback provisions. These conditions allow the company to retract or adjust the awards under certain circumstances. Any unexercised options will expire just before the tenth anniversary of the grant date.
Inspired PLC has provided additional details on the plan’s rules and the performance criteria for the financial year 2023 in their annual reports. This move aligns with the company’s strategy to incentivize and retain key leadership figures within the organization.
The notification of this grant, made in accordance with the UK Market Abuse Regulation, has been detailed at the end of the RNS. The information presented in this article is based on a press release statement from Inspired PLC.
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