Norcros PLC has announced the granting of new share options to two of its Executive Directors, Thomas Willcocks and James Eyre, under the Company's Approved Performance Share Plan (APSP). The awards are in respect of the current financial year and are subject to performance targets relating to long-term growth in the Company's Earnings Per Share (EPS). The options will vest on the third anniversary of their grant, subject to satisfactory achievement of the performance targets, and no consideration was paid for the awards.
Thomas Willcocks, the Chief Executive Officer, has been granted 217,454 options, while James Eyre, the Chief Financial Officer, has been granted 158,476 options. These options are over ordinary shares of ten pence each in the Company and will vest subject to achieving diluted EPS targets measured over a three-year performance period, starting with the 2025 financial year.
The notification, made in accordance with the requirements of the Market Abuse Regulation (MAR), provides further details of the transactions. The transactions took place on 24 July 2024 in Wilmslow, Cheshire, England. The Company's Chief Executive Officer and Chief Financial Officer were the recipients of the share option awards.
For further inquiries, Norcros PLC can be contacted at 01625 547 700, and the Chief Executive Officer, Thomas Willcocks, and Chief Financial Officer, James Eyre, are available for contact. Additionally, Hudson Sandler can be reached at 0207 796 4133 for further information.
This announcement provides insight into the Company's approach to incentivizing and rewarding its key executives, aligning their interests with the long-term growth and performance of Norcros PLC.