LUXEMBOURG - B&M European Value Retail S.A. (LSE:BME) reported that its Chief Financial Officer, Michael Schmidt, exercised nil-cost share options and subsequently sold a portion of the shares to cover tax liabilities. The transactions took place on November 22, 2024, according to a regulatory filing with the London Stock Exchange (LON:LSEG).
Schmidt exercised options for 37,942 ordinary shares at no cost, which were granted as part of a compensation arrangement related to his hiring, where incentive compensation from his previous employer was bought out. Following the exercise of these options, Schmidt sold 17,878 shares at a price of £3.532 per share, totaling £63,145.10, to satisfy the associated tax obligations. The sale occurred on the London Stock Exchange's Main Market.
The remaining shares retained by Schmidt represent his continued investment in the company, aligning his interests with those of B&M shareholders. The transaction was disclosed in compliance with the market abuse regulation, which mandates that company insiders publicly report their transactions involving the company's shares.
This financial activity comes as part of standard practice for executives who receive share-based compensation, allowing them to manage the immediate tax implications of exercising share options. The details of these transactions provide investors with transparency regarding the actions of the company's management and their stake in the company's performance.
This information is based on a press release statement issued by B&M European Value Retail S.A. and serves to inform shareholders and the public about the financial dealings of the company's key management personnel.
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