LONDON - Treatt PLC, a flavor and fragrance ingredients company, has corrected its previous announcement regarding share awards to two of its executive directors. The company clarified on December 20, 2024, that CEO David Shannon and CFO Ryan Govender were awarded 5,036 and 3,555 shares respectively under the Deferred Bonus Share Plan (DBSP) on December 13, 2024.
The shares awarded to Shannon and Govender under the DBSP, which are part of their earned bonuses for the fiscal year ending September 30, 2024, will vest on the second anniversary of the grant date. Additionally, the directors received Long-Term Incentive Plan (LTIP) awards, which are contingent on performance criteria over a three-year period, including compound annual growth in adjusted basic earnings per share and return on capital employed. These LTIP awards are also subject to a two-year holding period post-vesting.
In line with company-wide incentives, both directors participated in the Share Incentive Plan (SIP), under which all eligible UK employees were awarded £700 in Free Shares. Shannon and Govender also acquired Partnership Shares and were granted Matching Shares on a 1:1.5 ratio. These shares are subject to forfeiture conditions over a three-year period contingent on continued employment, except in cases where the employee is considered a good leaver.
The total aggregated share volume awarded to Shannon was 143,995 shares, and Govender received 101,378 shares, each at a price of £4.62 per share. These transactions occurred outside of a trading venue.
Treatt Plc, listed under the ticker LSE:TET, has its ordinary shares of 2 pence each identified with the ISIN code GB00BKS7YK08. The company's share dealings by directors are subject to regulatory disclosure requirements.
This news article is based on a press release statement from Treatt PLC and is meant to provide information on the company's recent share award transactions involving its directors.
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