LONDON - Argo Blockchain (LON:ARB) PLC (LSE: ARB; NASDAQ: ARBK), a company specializing in cryptocurrency mining, has disclosed the vesting of Performance Share Units (PSUs) for its CEO, Thomas Chippas. On Monday, 2,375,000 Ordinary Shares became vested as part of the company's 2022 Equity Incentive Plan.
Following the vesting event, CEO Thomas Chippas now holds approximately 0.37% of the company's issued share capital, which amounts to a total of 2,375,000 Ordinary Shares. After the transaction, Argo Blockchain has a total of 640,350,353 Ordinary Shares in issue. Shareholders can use this figure as the denominator for calculating notifications of interest in the company, as per the FCA Disclosure Guidance and Transparency Rules.
This vesting of PSUs is an initial notification and has been disclosed in accordance with the regulations governing transactions by persons discharging managerial responsibilities. The transaction, which did not take place on a trading venue, occurred on 27 November 2024 and is reported as part of the company's regulatory obligations.
The financial details of the PSU vesting were not disclosed, as the PSUs were granted as part of an incentive plan and not purchased at a market price. The vesting of these shares is part of the company's long-term incentive plan to align the interests of its executives with those of its shareholders.
The information provided is based on a press release statement from Argo Blockchain PLC.
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