bwin.party digital entertainment has announced shareholder-approved share plan awards under its 2014 Incentive Plan that will undoubtedly leave these two executives with a smile on their faces.
Chief executive officer, Norbert Teufelberger will receive a restricted share award of 916,091 bwin.party shares at a share price of GBP 1.04 per share while chief financial officer Martin Weigold will receive a nil-cost share option award over 674,152 bwin.party shares, a company statement said.
The awards represent 67.18 percent of the maximum entitlement that could be awarded and are based on the achievement of a series of strategic and operational targets. The award was put on hold during protracted merger talks between itself, GVC Holdings and 888 Holdings.
These share awards vest in their entirety on March 31, 2018, but the shares are not eligible for sale until March 31, 2020.