GENEVA - Wizz Air Holdings Plc, the European airline known for its sustainability efforts, has granted options over ordinary shares to its Central Operations Officer, Krzysztof Krolak, as part of its Omnibus Share Plan. The grant was approved by the company’s remuneration committee on Monday, and it consists of 4,752 options at a nominal price of £0.0001 each, with a performance-based vesting condition.
The options awarded under the Senior Leadership Growth Plan Award (SLGP Award) will vest fully if Wizz Air’s share price reaches £119.34 by the end of a specified performance period. The threshold for any vesting is a share price of £77.24, with a sliding scale of vesting between these two points. If the higher share price target is met or exceeded over any two consecutive quarters before the end of the performance period, based on the volume-weighted average price (VWAP), the SLGP Award will vest on the normal vesting date, as per the Omnibus Plan rules.
The performance period for the SLGP Award is set over seven consecutive financial years, starting with the year ending March 31, 2022. Should these options vest, the shares will be issued to the option holders at no cost. No payment was made by Krolak for the grant of these options.
Wizz Air, which operates over 220 Airbus A320 and A321 aircraft, has been recognized for its safety and sustainability, having been named among the World’s Top 5 Safest Low-Cost Airlines for 2024 and receiving multiple awards for its environmental sustainability efforts. The company is listed on the London Stock Exchange (LON:LSEG) with the ticker WIZZ.
This announcement is based on a press release statement from Wizz Air Holdings Plc and comes amid a period of increased attention on executive compensation and performance incentives within publicly traded companies.
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