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LONDON - Ithaca Energy (LON:ITH) plc (LSE: IAE) has reported transactions under its Share Incentive Plan (SIP) involving key executives, according to a recent statement. On Monday, the company disclosed that Yaniv Friedman, Executive Chairman, and Iain Lewis (JO:LEWJ), Chief Financial Officer, each purchased 111 ordinary shares at a price of £1.34981 on the London Stock Exchange (LON:LSEG).
These transactions, dated Sunday, are part of the company’s SIP, a scheme approved by HM Revenue and Customs that allows employees to acquire shares through salary deductions. Additionally, both executives were awarded 222 matching shares at no cost as part of the incentive plan, further aligning their interests with those of shareholders.
The SIP is designed to promote employee investment in the company, fostering a culture of ownership and potentially enhancing long-term shareholder value. The matching shares are typically awarded based on the number of shares purchased by the employee, providing an extra incentive for participation in the plan.
Ithaca Energy, an oil and gas operator, has emphasized the importance of its SIP in encouraging a committed and invested workforce. The company’s participation in such programs is commonplace in the industry, aiming to incentivize performance and retain key personnel.
The transactions were conducted on the London Stock Exchange, with the company’s shares being listed under the ticker symbol IAE. The news of these share dealings comes as part of the company’s regular disclosures in compliance with market regulations, ensuring transparency in the dealings of its directors and persons discharging managerial responsibilities.
The information is based on a press release statement, and it serves as a factual report of the share transactions involving Ithaca Energy’s executives. The company continues to focus on its operational activities and strategic objectives, with the SIP forming a part of its broader efforts to drive company performance and shareholder returns.
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