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LONDON - Senior plc, a manufacturing and engineering company, disclosed the vesting of share awards for several executives under its long-term incentive and deferred bonus plans. The shares were released on Monday, March 10, 2025, following the satisfaction of specific performance conditions.
The 2014 Long-Term Incentive Plan (LTIP) awards, granted on March 8, 2022, vested at 12.03% due to met performance conditions. Similarly, the company’s Deferred Bonus awards from the same date vested after a three-year period, contingent upon the executives’ ongoing employment within the Senior plc group. No payment was required for the award grants or their subsequent vesting.
The vested shares included additional shares accounting for dividend equivalents under both the LTIP and the deferred bonus awards. To fulfill these awards, Senior plc utilized existing ordinary shares from the company’s Employee Benefit Trust.
Some of the executives sold a portion of their vested shares on the vesting date, with transactions occurring on the London Stock Exchange (LON:LSEG) at a price of £1.622 per share. Notably, Main Board Director David Squires sold 130,317 shares and now holds 1,135,671 shares, while Bindi Foyle, another Main Board Director, sold 87,620 shares, retaining a stake of 558,919 shares in the company.
Other notable transactions included Launie Fleming, a US citizen, who sold the majority of their vested shares, totaling 117,482. Mike Sheppard, also a US citizen, sold all of his vested shares amounting to 116,030.
The release of these shares and subsequent sales are part of the company’s structured compensation plans for its executives, aligning their interests with the performance and success of the company.
This announcement is based on a press release statement and offers a glimpse into how performance-based incentive plans play a role in executive compensation within publicly traded companies.
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