Boohoo finance chief bags 20pc of share options
Boohoo.com went to market last week and, on the first day of trading, saw shares rise as much as 70 per cent above their 50p listing price, to 85p.
Today, it’s announced that its chief financial officer has been awarded with over 20 per cent of its initial share options.
The Manchester-based firm’s said that 9,746,000 share options were granted to employees. The options will vest in three years, at an exercise price of 50p, and "are subject to the achievement of EBITDA linked performance criteria".
An option of over 2,000,000 ordinary shares of 1p each has been granted to finance chief Neil Catto, representing 0.18 per cent of the issued share capital. At Friday’s closing price – 70p – the shares would be worth £1.4m.