Enteq Technologies plc (LON:NTQ), the energy services technology and equipment supplier has announced that its Remuneration Committee has approved a grant of awards under its Performance Share Plan effective on 20 October 2023.
This grant has a vesting date of 20 October 2026. The vesting performance condition relates to the achievement of a total shareholder return target over the period to 31 March 2026. This target is set and monitored by the Remuneration Committee. The consideration payable for these awards on exercise is 1 pence per ordinary share in the Company. Under the terms of the PSP these awards are subject to claw back and malus provisions, and no holding period.
Andrew Law (Enteq Technologies CEO) was granted PSP options over 1,184,211 Ordinary Shares, taking his total outstanding grants under the PSP scheme to options over 2,593,876 Ordinary Shares.
Mark Ritchie (CFO) was granted PSP options over 736,842 Ordinary Shares, taking his total outstanding grants under the PSP scheme to options over 736,842 Ordinary Shares.
Neil Bird (Product Director), who is not on the Board but considered a Person Discharging Managerial Responsibilities, was granted PSP options over 447,368 Ordinary Shares, taking his total outstanding grants under the PSP scheme to options over 945,703 Ordinary Shares.
