Executive Share Scheme and CEO salary
Source: RNS
Executive Share Scheme and CEO Salary
As per the Frasers Group PLC Notice of Annual General Meeting published today, the resolutions to the Annual General Meeting include changes to be made to the Executive Share Scheme whereby all awards to executives in the Scheme (Michael Murray, Chris Wootton, David Almudallal and Sean Nevitt) have been amended. Such awards will now need both to:
· Meet a hurdle share price of £15 for 30 consecutive dealing days during the vesting period (Chris Wootton, David Almudallal and Sean Nevitt previously £12 per share); and
· Be conditional on the Group achieving an adjusted profit before tax of at least £500m in the audited Annual Report and Accounts during the vesting period.
Furthermore, in line with the focus on achieving the above targets, and to align with shareholders' interests, Michael Murray has decided to waive his £1m base salary for the financial year to 30 April 2023.
Frasers Group plc
Robert Palmer, Company Secretary T. 0344 245 9200
LEI:213800JEGHHEAXIJDX34 E. investor.relations@frasers.group
Chris Wootton, Chief Financial T. 0344 245 9200
Officer E. financial@frasers.group
Ronnie Laffar, Head of PR & T. 0344 245 9399
Communications E. fgpr@frasers.group
Rosie Oddy, Brunswick Group, T. 020 7404 5959
PR Advisors E.frasersgroup@brunswickgroup.com
Numis
Luke Bordewich T. 020 7260 1000
Ollie Steele
Duncan Wilson
Liberum
John Fishley T. 020 3100 2000
Kane Collins
Nikhil Varghese
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