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LONDON - Ithaca Energy (LON:ITH) plc (LSE: IAE), an oil and gas operator, disclosed that two of its top executives participated in the company’s Share Incentive Plan (SIP) on Monday, purchasing shares at a set price. The transactions involved the company’s Executive Chairman, Yaniv Friedman, and Chief Financial Officer, Iain Lewis (JO:LEWJ), both acquiring 117 ordinary shares each at £1.28822 per share.
The SIP, approved by HM Revenue and Customs, allows employees to buy shares of Ithaca Energy using deductions from their monthly salary. Additionally, both executives were awarded an equal number of matching shares, totaling 234 each, at no cost, under the same plan. These shares are held through the SIP Trustee.
The purchases and awards took place on the London Stock Exchange (LON:LSEG) with the ticker symbol XLON. This type of transaction is part of the company’s efforts to align the interests of its management with those of its shareholders by encouraging stock ownership among its executives.
Ithaca Energy, recognized by its Legal Entity Identifier (LEI) 21380057TNFLXPXBIP34, is required to disclose such transactions in compliance with Article 19 of the EU Market Abuse Regulation. The company’s announcement of these transactions reaffirms its commitment to transparency in its dealings with executive shareholdings.
This information, based on a press release statement, indicates an ongoing investment by Ithaca Energy’s leadership in the company’s stock, reflecting confidence in its long-term value proposition to shareholders.
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