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LONDON - Zotefoams plc (LSE:ZTF) Group CFO Gary McGrath acquired 20,154 ordinary shares on Monday following the vesting of a nil-cost award granted to him in September 2020 under the company’s Long Term Incentive Plan, according to a regulatory filing.
McGrath sold 10,376 of the vested shares at £4.029 each to cover the tax liability arising from the vesting, generating approximately £41,800. He retained the remaining 11,655 shares.
The 2020 LTIP Award vested after satisfying performance targets over a specified period and completing a two-year holding period following the third anniversary of the grant, creating a cumulative five-year restricted period. The number of shares vesting also accounted for dividends that would have been paid during the restricted period.
Zotefoams, a manufacturer of lightweight and high-performance foams, made the disclosure in accordance with the requirements of Article 19 of the UK Market Abuse Regulation, based on a press release statement.
The company utilizes various manufacturing processes, including nitrogen expansion technology, to produce materials for diverse markets across consumer, transport, construction, and industrial sectors.
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