LONDON – Ten Lifestyle Group PLC (AIM: TENG), a global lifestyle and travel platform, has announced the grant of new options over ordinary shares to key management personnel under its Management Incentive Plan (MIP). The options are aimed at aligning the interests of the executives with those of the shareholders and supporting the company’s long-term strategic goals.
The options, granted on January 16, 2025, have been allocated to four members of the senior management team, including CEO Alex Cheatle and CFO Alan Donald. The MIP Options, which are set at a nil cost, will vest based on the total shareholder return over a three-year period, concluding with the announcement of the company’s financial results for the year ending August 31, 2027.
The performance conditions for vesting of these options are designed to incentivize management in accordance with the company’s strategic objectives and the enhancement of shareholder value. The Remuneration Committee of Ten Lifestyle believes that these metrics are appropriately aligned with the company’s long-term strategy.
The details of the options granted are as follows: CEO Alex Cheatle received 194,000 options, Group COO Andrew Long was granted 94,000 options, CFO Alan Donald also received 94,000 options, and Chief Proposition Officer Victoria Carvalho was allocated 30,000 options. This grant increases their total held options over ordinary shares significantly, with Cheatle’s total reaching 1,742,680 and Long’s 1,142,350, among others.
The transaction took place outside a trading venue, in line with regulatory requirements. This grant of options is part of Ten Lifestyle’s ongoing efforts to ensure that its management team is motivated to drive the company forward and build value for its shareholders.
The information in this article is based on a press release statement from Ten Lifestyle Group PLC.
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