Arecor Therapeutics PLC (GB:AREC) has released an update.
Arecor Therapeutics PLC has announced the grant of 540,000 Long Term Incentive Plan options and 383,250 All Employee Share Ownership Plan options to their managerial staff, with varying exercise prices and conditions based on performance and service duration. The LTIP options are exercisable at a nominal price of 1 pence each with a vesting condition tied to commercial and shareholder return goals over a three-year period. Meanwhile, the AESOP options, with an exercise price matching the closing market price on the day before the grant, vest after three years and require continuous employment.
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