Stefanutti Stocks Directors Secure Future with Strategic Share Awards

  • Directors Awarded Shares: Stefanutti Stocks' CEO, CFO, and subsidiary director granted forfeitable share awards under new plan.
  • Long-Term Alignment: Awards aim to link leadership's interests with company's growth and value creation over three-year vesting period.
  • Regulatory Compliance: Transactions cleared under JSE Listings Requirements, ensuring transparency and adherence to regulatory standards.

Stefanutti Stocks

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:

DirectorCompanyNumber of SharesIndicative Price per Share (R)Indicative Transaction Value (R)
Mr. Russell CrawfordStefanutti Stocks Holdings Limited1,155,0001.291,489,950
Ms. Yolanda du PlessisStefanutti Stocks Holdings Limited725,0001.29935,250
Mr. Shaun WhiteStefanutti Stocks Proprietary Limited430,0001.29554,700

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.