LONDON - Treatt PLC, a global ingredients manufacturer, announced the grant of share awards to its executive directors, according to a statement released on December 17, 2024. The awards were made under the company's Deferred Bonus Share Plan (DBSP), Long-Term Incentive Plan (LTIP), and Share Incentive Plan (SIP) on December 13, 2024.
David Shannon, the Chief Executive Officer, and Ryan Govender, the Chief Financial Officer, were among the executives who received these awards. The DBSP shares, linked to bonuses for the financial year ended September 30, 2024, are set to vest on the second anniversary of the grant date. The LTIP awards, which vest based on performance criteria related to earnings per share and return on capital employed over a three-year period, are subject to an additional two-year holding period after vesting.
Both directors also participated in the SIP, which is consistent with awards given to all UK employees. The plan included £700 worth of Free Shares for eligible employees, with Matching Shares awarded on a 1:1.5 basis to those purchasing Partnership Shares. These shares are subject to forfeiture in case of employment termination within three years, with exceptions for certain 'good leaver' circumstances.
The transactions occurred outside a trading venue, with all shares priced at £4.62. Shannon's total award included 4,029 DBSP shares, 137,987 LTIP shares, 389 Partnership Shares, and 583 Matching Shares. Govender's award comprised 2,844 DBSP shares, 97,402 LTIP shares, 151 Free Shares, 108 Partnership Shares, and 162 Matching Shares.
These share awards are part of Treatt's compensation strategy to align the interests of its executives with those of the company and its shareholders. The information is based on a press release statement and provides insight into the company's incentive structures for its top management.
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