Equals Group plc (LON:EQLS), a funds group targeted on the SME market, at the moment introduced awards over 2,600,000 abnormal shares of £0.01 every had been made below its Discretionary Lengthy-Time period Incentive Plan (LTIP).
Equals additionally introduced that additional awards below its Share Incentive Plan (SIP) will probably be made to eligible employees in respect of a most of 300,000 abnormal shares in complete, and introduced to employees on 6 November 2023, topic to a 25 day opt-out interval giving a grant date of 4 December 2023.
In frequent with many companies, the Group faces continued challenges to not solely recruit but in addition retain high-quality expertise throughout all its operations. Accordingly, the additional following awards are being made below the LTIP, offering sure efficiency situations are achieved, as introduced beforehand in October 2021. Grants had been additionally made on 18 October 2021 and 14 December 2022.
The awards vest on the third anniversary of the grant, topic to the satisfaction of the pre-determined efficiency situations and such vested shares will probably be topic to a two-year holding interval thereafter. The precise award degree will probably be decided on a sliding scale depending on efficiency relative to CAGR targets for income and EPS, KPI’s for buyer high quality and ESG and a minimal share worth threshold of 85.6 pence.
Members who depart employment earlier than vesting will lose their award, topic to sure restricted ‘good leaver’ situations.