Pinewood Technologies Group PLC said on Monday it granted share awards to its chief executive and chief financial officer under its deferred share plan, with no consideration paid by the recipients.
The company issued awards covering 65,672 ordinary shares to CEO Bill Berman and 27,733 ordinary shares to CFO Ollie Mann. Each ordinary share carries a par value of £1.00. The awards were granted outside a trading venue and align with Pinewood’s shareholder-approved Directors’ Remuneration Policy.
Vesting is scheduled for the third anniversary of the grant date, provided the executives remain in service with the company. Accelerated vesting applies in the event of a change of control, as outlined in the plan rules. The grants were made under Rule 21.1 of the Takeover Code.
Pinewood Technologies Group PLC, listed under ISIN GB00BSB7BS06, confirmed the transactions were implemented in compliance with its existing remuneration framework and regulatory requirements.
