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LONDON - Invinity Energy Systems plc, a company specializing in energy storage solutions, has announced the grant of performance-linked options to its executive directors. This move follows recent changes in the company’s executive management team and is aimed at aligning executive compensation with shareholder interests.
The options have been issued under the Invinity Energy Systems 2025 Employee Share Option Plan, with an exercise price set at 23.0p per share, matching the issue price of the company’s last fundraising effort in May 2024. The options are divided into two tranches, each representing half of the total award, with specific vesting conditions tied to the company’s share price performance.
Tranche 1 will vest over three years, with one-third becoming exercisable each year, provided the company’s share price is at or above 16.0p at the time of vesting. The second tranche is set to vest on January 30, 2028, contingent upon the share price reaching or exceeding 100.0p.
The Board of Invinity believes these targets are ambitious but achievable, considering the potential for the company and its sector. They have concluded that it is appropriate for the executive directors to be incentivized should the share price surpass 100.0p, a figure significantly higher than both the current share price and the price during the recent fundraising.
Jonathan Marren, CEO, Adam Howard, CFO, and Matthew Harper, CCO, are the executive directors awarded the new options. The maximum number of new shares that could be issued upon a cashless exercise of these new options, at share prices of 50.0p and 100.0p, has been disclosed for illustrative purposes, reflecting potential dilution to the current Issued Share Capital.
Neil O’Brien, Non-Executive Chairman at Invinity, commented on the grant, stating that the performance of the team is critical to the company’s success and this award is intended to more closely align share price performance with executive remuneration. He also highlighted the busy year ahead for Invinity, as it plans to deploy its ENDURIUM product globally to meet the increasing demand for non-lithium forms of long-duration energy storage.
This announcement is based on a press release statement issued by Invinity Energy Systems plc.
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