Hunting PLC has announced the granting of share awards to its executive Directors and members of the Executive Committee under the 2024 Hunting Performance Share Plan (HPSP). The awards, granted on 18 April 2024, are subject to vesting on the third anniversary of the grant date. The share awards are a combination of performance-based and time-based awards, with varying proportions for each individual.

The performance conditions and targets attached to the performance-based awards of the 2024 HPSP grant include metrics such as EPS, ROCE, TSR, FCF, and Strategic Scorecard. These conditions will be measured against the financial performance of the company for the year ended 31 December 2026, and the three-year performance period ended 31 December 2026. Time-based awards granted to the Executive Directors are subject to an underpin, which will be determined by the Remuneration Committee based on the Committee's assessment of the underlying performance of the business over the performance period against a range of objective factors.

The number of shares subject to the award were determined by using the closing middle market price of a Hunting PLC Ordinary share on 17 April 2024, being 355.5 pence per share. The share awards were granted at nil cost.

The announcement also includes details of the transactions, including the number of shares and the nature of the transaction for each person discharging managerial responsibilities or person closely associated with the company. The transactions took place in London on 18 April 2024.

This announcement provides insight into the company's approach to incentivizing and rewarding its executive team, aligning their interests with the long-term performance and strategic objectives of the company.