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LONDON - Lords Group Trading (LON:LORD) PLC, a UK-based distributor of building materials, has conditionally granted options for over 5 million shares as part of its Long Term Incentive Plan (LTIP), aimed at aligning the interests of its executives with the company’s long-term success.
Shanker Patel, CEO, and Stuart Kilpatrick, CFO, are among the executives receiving the largest grants, with 1,628,073 and 1,090,909 options respectively. These awards are contingent on meeting performance targets over a three-year period ending December 31, 2027.
For board executives, the performance targets are split evenly between growth in Earnings per Share (EPS) and Total (EPA:TTEF) Shareholder Return (TSR) relative to a comparator group. Divisional executives’ targets are 60% based on growth in divisional EBITDA and 40% on growth in Group EPS.
The LTIP Awards require a minimum of 9.5% organic earnings growth for any vesting to occur, with full vesting at an organic growth rate of 15.8%. The TSR-related portion of the awards will only begin vesting if performance is above the median of the comparator group, with full vesting at the top quartile.
Additionally, Lords Group made a one-time Restricted Share Award to sixteen business and divisional executives, granting options over a total of 586,939 shares. These will vest after three years based on continuous employment and are subject to the Remuneration Committee’s discretion.
The announcement follows a year in which no awards were made, indicating a renewed focus on incentivizing performance. The Remuneration Committee retains discretion to adjust targets to ensure they remain appropriate.
This strategic move comes as Lords Group continues to serve local tradesmen, small to medium-sized merchants, construction companies, and the general public through its merchanting and plumbing and heating divisions.
The information on these incentive awards is based on a press release statement from Lords Group Trading PLC.
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