Stobart directors could pocket some £38.8m in share bonuses
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By Christopher Walton SENIOR DIRECTORS at Stobart Group stand to receive share bonuses totalling some £38.8m (at current share price levels) in three years’ time if the company matches certain performance targets.
Should shares in Stobart Group outperform the total shareholder return of the FTSE 250 by at least 40% – in a period running from 7 December until the last day of any calendar month between December 2014 and December 2015 – chief executive Andrew Tinkler (pictured) could receive some £19.6m by way of 16.3 million shares.
Furthermore, William Stobart, chief operating oficer, would receive £6.8m (at the current share price of 119.65p); Allan Jenkinson, chief executive of Stobart Bio Mass, some £7.7m; chief inancial oficer Ben Whawell £2.4m and deputy chief executive Richard Butcher £2.4m. All ive involved in the scheme are to have their base salaries frozen at current levels for its duration.
Chairman Rodney Baker-Bates says: “The incentive plan will encourage the management to pursue value-maximising strategies in relation to existing and new assets, which will strengthen their alignment with shareholders’ interests.”