Harrogate-based IT firm Redcentric Plc said on Wednesday it granted a total of 874,709 options over new ordinary shares of 0.1 pence each in the company under the firm’s 2017 Long Term Incentive Plan (LTIP).
“The LTIP Options are three-year, nil-cost options and subject to continued employment and the meeting of certain performance conditions,” said Redcentric.
Redcentric said 372,470 of the LTIP options were granted to executive directors of the firm.
CEO Peter Brotherton was granted 242,915 LTIP options, following which the CEO holds 1,113,542 options over ordinary shares and 133,571 ordinary shares.
CFO David Senior was granted 129,555 LTIP options, following which Senior holds 278,655 options over ordinary shares and 28,571 ordinary shares.
Following this grant, there are options outstanding over 4,174,758 Ordinary shares, representing 2.68% of the company’s issued share capital.