LONDON - Netcall PLC (AIM:NET), a leading provider of intelligent automation and customer engagement software, has established a new long-term incentive plan (2024 LTIP) aimed at aligning the interests of its executive board members, senior management, and broader employee base with those of its shareholders. The announcement made on Monday detailed the grant of nominal cost share options contingent on specific performance criteria.
The 2024 LTIP is designed to foster long-term value creation for stakeholders and ensure that the company's leadership and employees are motivated to achieve the group's objectives. Under this new scheme, options over ordinary shares have been granted to certain directors of the company, with Chief Executive Officer Mr. James Ormondroyd receiving 4,100,000 options and Chief Financial Officer Mr. Richard Hughes receiving 1,200,000 options. These options, exercisable between December 30, 2026, and June 30, 2032, have an exercise price of 5 pence and are subject to performance and vesting criteria that include achieving various share price targets and a two-year lock-in period post-vesting.
The performance targets for the LTIP Awards are structured around share price hurdles, starting at a share price of £1.06 and extending up to a maximum of £2.40, as well as other standard corporate events. If all performance criteria are met, the total number of ordinary shares under option held by the directors would amount to 5,300,000, which represents approximately 3.2% of the current issued share capital of Netcall.
The establishment of the 2024 LTIP reflects Netcall's commitment to incentivizing its key personnel through equity ownership, thereby potentially enhancing the company's performance and shareholder value over the long term. This initiative is part of the company's broader strategy to maintain competitive compensation practices within the industry.
This article is based on a press release statement from Netcall PLC.
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