LONDON - CVS Group plc, a UK-based veterinary services provider, has announced the grant of options under its Save As You Earn (SAYE) share scheme to its employees, including executive directors. The options were granted on November 26, 2024, as part of the company's employee incentive program.
The SAYE Scheme, which is available to all CVS Group employees, allows participants to save monthly for a fixed period and then purchase company shares at a discounted price. The exercise price for the options is set at 847 pence per share, which is 10% lower than the average closing price preceding the invitation date of November 1, 2024.
Executive Directors Richard Fairman, Robin Alfonso, and Paul Higgs were among those who elected to participate, receiving 722, 700, and 722 SAYE scheme options respectively. In total, 612,781 options were granted to employees, which corresponds to about 0.86% of the company's issued ordinary share capital. These options can be exercised starting from January 1, 2028, in accordance with the scheme's rules.
The transactions were conducted off-market and reported in compliance with the UK Market Abuse Regulation (MAR). The granted options represent a commitment to employee ownership and are part of CVS Group’s strategy to align the interests of its employees with those of the company and its shareholders.
This move by CVS Group highlights the company's use of share-based incentives to retain and motivate its workforce. The information regarding the grant of options and the participation of the company's executives in the SAYE Scheme is based on a press release statement.
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