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LONDON - Raspberry Pi Holdings plc (LSE:RPI), known for its affordable high-performance computing solutions, has granted Long-Term Incentive Plan (LTIP) awards to its Persons Discharging Managerial Responsibilities (PDMRs). The announcement made today detailed the distribution of options over ordinary shares, which are set to vest based on performance conditions and continued employment through the end of December 2027.
The LTIP awards encompass a total of 624,488 ordinary shares at a nominal value of £0.0025 per share. The company’s CEO, Eben Upton, and CFO, Richard Boult, along with other senior management members, are the primary recipients of these awards. The vesting date for these awards is projected to be May 14, 2028, with an additional two-year holding period post-vesting for the CEO and CFO’s shares.
The performance conditions tied to these awards align with the objectives outlined in the Directors’ Remuneration Report for the fiscal year ending December 31, 2024. These conditions will be assessed over the next three financial years, underscoring the company’s commitment to long-term goals and executive performance.
The value of the LTIP awards, calculated using a five-day average share price of £4.90, amounts to approximately £918,000 for the CEO and £714,000 for the other senior management team members. These figures fall within the company’s dilution limits and are consistent with the proposed remuneration policy stated in the Annual Report.
Eben Upton, the CEO, has been granted 187,346 shares, while Richard Boult, the CFO, has received 145,714 shares. Similar amounts have been awarded to Carol Copland, General Counsel and Company Secretary, and Mike Buffham, Chief Commercial Officer.
This strategic move by Raspberry Pi is designed to incentivize and retain top executive talent by aligning their interests with the long-term performance and success of the company. The information provided is based on a press release statement from Raspberry Pi Holdings plc.
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