RE: Transactions26 Mar '22
Bobbyaxelrod,
I think you are correct, it is my understanding too.
The shares are bought back and held in treasury until such time as the shares are issued to an employee under the performance share plan.
For example, On the 22nd of March 2021, Sameet Vohra was issued with 50,000 shares at an exercise price of 1p per share!
£500 for (at today's price) £200,000 worth of shares!
They are performance related, so in theory it should be good for us too if targets are hit.
"Each of these Options will vest after three years from the date of issue and are exercisable at the nominal value of the share of 1 pence per share for a period of seven years from vesting, provided that certain performance conditions have been satisfied. The Options may vest subject to the achievement of Earnings per Share growth targets in each of the three financial years 2021-2023."