Manx Financial grants stock units to executives and management

Manx Financial Group PLC, a UK-based financial services company listed on AIM, announced today that its Remuneration Committee has approved the grant of 929,792 restricted stock units to various executives and senior management under the company's Restricted Stock Unit Plan 2022.

The grants, which will vest on December 31, 2028, are contingent upon continued employment and meeting certain performance criteria. These criteria include cumulative profit before tax, absolute total shareholder return, share price performance, and the successful delivery of the company's new deposit system. The restricted stock units have a nil exercise price.

Douglas Grant, a director at Manx Financial, received 253,593 restricted stock units. If all conditions are met for full vesting, this would increase his total shares to 3,626,231, representing 2.88% of the company on a fully diluted basis. James Smeed, another director, was granted 160,542 restricted stock units. With full vesting, his holding would total 666,396 shares, or 0.53% on a fully diluted basis.

Haseeb Qureshi also received 164,315 restricted stock units, which, if fully vested, would amount to 670,169 shares, or 0.53% on a fully diluted basis.