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LONDON - Zigup plc announced Friday that it has granted awards to its executives under the company’s Value Creation Plan following shareholder approval at its Annual General Meeting last month.
The plan, approved on September 23, allocates shares of a performance-based pool to seven company directors and executives, with CEO Martin Ward receiving the largest allocation at 30%. Other recipients include Rachel Coulson (15%), Harvey Stead and Jorge Alarcón Alejandre (12.5% each), and Katie Tasker-Wood, Emma Ayton, and Matthew Barton (10% each).
According to the company statement, the VCP Pool Value will be calculated as 10% of the growth in Zigup’s share value above a hurdle of £5.21 per share, with a maximum cap of £8 per share. The calculation includes any dividends paid during the performance period.
The performance period runs until April 30, 2028, after which eligible participants will be entitled to acquire ordinary shares at no cost based on their allocated percentage of the pool value. Any vested awards will typically be subject to a two-year holding period.
The company issued the announcement in compliance with Article 19 of the UK Market Abuse Regulation. Full details of the plan were included in the Notice of AGM issued by Zigup on July 25.
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