Fed’s Powell opens door to potential rate cuts at Jackson Hole
LONDON - RHI Magnesita N.V., the leading global supplier of high-grade refractory products, systems, and solutions, has announced the grant of nil cost options to its key management personnel under the company’s Long Term Incentive Plan (LTIP). The awards, which were granted on Thursday, are part of the company’s strategy to incentivize its senior executives by aligning their interests with those of the shareholders.
The LTIP awards will vest on the third anniversary of the grant date, contingent upon the fulfillment of performance conditions outlined in the company’s 2024 Remuneration Report. Following vesting, the shares must be held until the fifth anniversary of the grant date, except for sales to cover related taxes. The awards are also subject to clawback provisions as specified in the LTIP rules.
No payment is required by the recipients for either the grant or the vesting of the awards. The number of shares each executive is eligible to receive is calculated based on the average closing price of RHI Magnesita’s shares on the London Stock Exchange (LON:LSEG) for the dates February 27 and 28, and March 3, 4, and 5, 2025, which was £33.88.
The executives receiving the largest grants include Stefan Borgas, Chief Executive Officer, with 61,017 options, and Ian Botha, Chief Financial Officer, who was awarded 26,749 options. Other notable recipients are Rajah Jayendran, Chief Technology Officer, with 17,488 options, and Gustavo Franco, Chief Customer Officer, who received 21,100 options. Additionally, Ticiana Kobel, Executive Vice President of Legal & Digital Transformation, and Simone Oremovic, Executive Vice President of People, Projects, Integrations & Recycling, were each granted 12,815 options.
The transactions took place outside a trading venue and represent an initial notification for these PDMRs. RHI Magnesita has provided the details required under regulatory obligations, including the names and positions of the PDMRs, the nature of the transactions, and the identification codes of the financial instruments involved.
This strategic move reflects RHI Magnesita’s commitment to retaining and motivating its senior leadership team through performance-linked incentives. The information for this article is based on the press release statement issued by RHI Magnesita N.V.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.