Stefanutti Stocks Holdings Limited has announced that certain key directors have been granted forfeitable share awards as part of the recently amended Stefanutti Stocks Holdings Limited Forfeitable Share Plan. The plan, endorsed by shareholders on April 26, 2023, aims to align the interests of company leadership with long-term value creation and shareholder returns.
The directors who have been awarded these shares are Mr. Russell Crawford, the Chief Executive Officer (CEO) of Stefanutti Stocks Holdings Limited; Ms. Yolanda du Plessis, the Chief Financial Officer (CFO) of the same entity; and Mr. Shaun White, a director of Stefanutti Stocks Proprietary Limited, a significant subsidiary of the company.
The Details of the Transactions:
| Director | Company | Number of Shares | Indicative Price per Share (R) | Indicative Transaction Value (R) |
|---|---|---|---|---|
| Mr. Russell Crawford | Stefanutti Stocks Holdings Limited | 1,155,000 | 1.29 | 1,489,950 |
| Ms. Yolanda du Plessis | Stefanutti Stocks Holdings Limited | 725,000 | 1.29 | 935,250 |
| Mr. Shaun White | Stefanutti Stocks Proprietary Limited | 430,000 | 1.29 | 554,700 |
These forfeitable share awards, granted on August 30, 2023, come with a vesting period of three years from the date of the award. This means that the shares will fully vest on August 30, 2026. The shares have been priced at an indicative value of R1.29 each. The transactions are characterized as off-market awards, and the shares will be delivered to the respective directors on the vesting date as per the terms of the Forfeitable Share Plan.
The aim of the Forfeitable Share Plan is to create a strong link between the company’s top leadership and its long-term performance. By awarding shares that have a vesting period aligned with the company’s strategic timeline, Stefanutti Stocks aims to incentivize directors to make decisions that drive sustainable growth and value creation.
