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Boohoo will give free stock to about 5,000 employees, including CEOs and CFOs

Boohoo has handed free shares to approximately 5,000 employees, including Chief Executive Officer John Lyttle and Chief Financial Officer Neil Catto.

The Fast Fashion Group announced on Friday that a total of 15 million shares of common stock were granted to employees at a price of 1 pence per share.

A total of 4,924 employees were found to be eligible and applied for the 2021 Share Incentive Plan. Each is given 3,136 free common stock, which is equivalent to approximately £ 3,600 at a purchase price of £ 1.15 per common stock.

Free shares will be awarded on January 12, and will be subject to a three-year forfeiture period.

CEO John Lyttle and CFO Neil Catto also received free shares, with the former totaling 188,172 shares and the latter 79,735 shares.

Boohoo said the move is part of a commitment to encourage all employees to become shareholders of the business.

Boohoo will give free stock to about 5,000 employees, including CEOs and CFOs

Source link Boohoo will give free stock to about 5,000 employees, including CEOs and CFOs

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