CAMBRIDGE, UK – Arecor Therapeutics plc (AIM:AREC) has granted 455,000 options under its Long Term Incentive Plan, as announced in a press release.
The options were granted over new ordinary shares with a nominal value of 1 pence each. CEO Sarah Howell received 160,000, CFO David Ellam 105,000, CSO Jan Jezek 95,000, and CDO David Gerring 95,000 options.
The exercise price is 1 pence per option. The vesting structure includes time-based conditions for 30% of options and share price outperformance conditions for 70%. The performance period is three years, measured against the FTSE AIM All Share index.
Vesting occurs at the end of the three-year period, subject to continued service and performance condition satisfaction. Vested options can be exercised from the end of the performance period until the tenth anniversary of the grant date. Recipients must hold options or acquired shares for at least one year from vesting, excluding shares sold to cover tax and National Insurance.
Arecor Therapeutics develops therapies for diabetes, obesity, and cardiometabolic diseases.
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