Calnex Solutions, a leading provider of test and measurement solutions for the global telecommunications sector, has announced the implementation of a long-term incentive plan (LTIP) for its executive and senior management team. The LTIP will grant annual awards subject to performance metrics. The company obtained external advice on the design of the LTIP and consulted with shareholders on its key terms. A total of 931,426 awards have been granted in the form of nominal cost share options, which will vest over a three-year period, subject to performance metrics related to the company's earnings per share, revenue, and absolute shareholder return.
The details of the LTIP can be found in Calnex's annual report for the year ended March 31, 2023. The Chief Executive Officer, Tommy Cook, the Chief Financial Officer, Ashleigh Greenan, and two other persons closely associated with the company have been granted awards under the LTIP. The awards have an exercise price of 1 pence per share and were granted outside of a trading venue on June 5, 2023.