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LONDON - Picton Property Income Limited announced Thursday it has granted share awards to three executives under its long-term incentive and deferred bonus plans.
Michael Morris received 604,953 shares under the 2025 Long Term Incentive Plan (LTIP) and 254,740 shares under the 2025 Deferred Bonus Plan (DBP). Saira Johnston was granted 122,185 shares under the 2024 LTIP, 336,011 shares under the 2025 LTIP, and 160,834 shares under the 2025 DBP. Jay Cable received 139,694 shares under the 2025 LTIP and 65,935 notional shares under the 2025 DBP.
The 2024 LTIP awards will vest on March 31, 2027, subject to continued employment and performance conditions over the period from April 1, 2024, to March 31, 2027. Similarly, the 2025 LTIP awards will vest on March 31, 2028, based on performance from April 1, 2025, to March 31, 2028. The DBP awards will vest on June 30, 2027, subject to continued employment.
The company also revised its 2025 LTIP performance metrics. The Total (EPA:TTEF) Shareholder Return condition will now be measured against the EPRA NAREIT UK index rather than a specific peer group. Other performance conditions include Total Property Return versus the MSCI Index and Growth in EPRA EPS, with specific targets for the year ending March 31, 2028.
Picton, established in 2005 and listed on the London Stock Exchange (LON:LSEG), manages a UK commercial property portfolio valued at £723 million across 47 assets with approximately 350 occupiers as of March 31, 2025, according to the company’s press release statement.
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