SourceBio International offers management £2.3m share options target
The management team at SourceBio International are to receive 4.75m share options as part of their remuneration targets.
The laboratory services company listed on the Alternative Investment Market (AIM) in October 2020, with shares priced at 162p.
Its share price increased by 50% in December and January but has since fallen steadily to close on Thursday night at 140p.
The share options will be released in three tranches over three years and will only vest when the price is above 200p, making the bonus worth more than £2.3m.
Jay LeCoque, executive chairman of SourceBio
The new Executive Share Option Plan will see executive chairman Jay LeCoque receive 2m, chief financial officer Tony Ratcliffe 1.35m, while other unnamed employees will share 1.4m options.
The share options granted were proposed by the remuneration committee and approved by the board.
LeCoque’s share options have an exercise price of 162p, while the rest are priced at 140p. All the share options have a 10-year term.
