Livetiles (ASX:LVT) today announced an update to their Employee Incentive Plan (EIP). The Board has approved the EIP, which will be put to Shareholders at their AGM on 30 November 2021.
The EIP has been designed to align employee performance to the Company’s strategic goals, and to retain, reward and attract talent over the long term.
The unlisted rights will vest over a 3 year period, and the vesting conditions (continuous employment and specific share price performance) have been designed to align employee performance to the Company’s strategic goals and increase of the Company’s share price in the short-long term.
Tranche #1 Vesting date is June 30, 2022 at a share price of 25c , Tranche #2 vesting date is June 30, 2023 at 35c and Tranche #3 date is June 30, 2024 at a share price of 50c.
As a shareholder, I'm happier to have the executive team, in particular, rewarded by these incentives instead of base pay increases and cash bonuses.
