Mondi Plc recently announced that two of its directors, Andrew King (Group CEO) and Mike Powell (Group CFO), have acquired partnership and free matching shares through the Mondi Share Incentive Plan (SIP). The SIP is an all-employee trust arrangement approved by UK HM Revenue and Customs, allowing UK employees to buy Mondi plc Ordinary shares using monthly deductions from salary and receive allocations of free matching Mondi Shares. The price for the nil consideration Matching Shares reflects the market value on the day of purchase.
On February 7, 2024, both directors acquired 22 Ordinary shares of 0.22 each at a price of 13.69. Half of the shares acquired were obtained for nil consideration. The transactions took place on the London Stock Exchange (XLON).
This move demonstrates the directors' confidence in the company and aligns their interests with those of the shareholders. It also reflects their commitment to the long-term success and growth of Mondi Plc.