Calnex Solutions PLC has confirmed the issuance of share option awards to its executive and senior management team under the Company's long-term incentive plan (LTIP). The total number of awards granted is 1,153,198, in the form of nominal cost share options, which will vest over a three-year period starting from 1 April 2024, subject to the fulfillment of performance metrics.
The LTIP awards have been issued to the Company's Persons Discharging Managerial Responsibilities (PDMRs). The awards are subject to performance metrics and will vest over a three-year period. The LTIP awards have been granted in the form of nominal cost share options, with an exercise price of 1 pence per share.
Tommy Cook, the Chief Executive Officer, has been granted 230,705 share options, while Ashleigh Greenan, the Chief Financial Officer, has been granted 165,634 share options. Anand Ram, the VP Business Development, has been granted 366,853 share options. The transactions took place outside of a trading venue on 15th July 2024.
This move is aimed at incentivizing and retaining key personnel within the company, aligning their interests with the long-term success of Calnex Solutions PLC. The LTIP awards are designed to motivate and reward the management team for their contributions to the company's performance and growth in the telecommunications sector and cloud computing markets.