Magyar Telekom grants shares to CEO
March 14, 2018 06.18 Europe/London By Chris Dziadul
The Hungarian incumbent Magyar Telekom has granted its CEO and board of directors member Christopher Mattheisen 40,625 shares and closed the “Matching Share Plan”.
As a result, he now holds a total of 255,901 shares in the company.
In a statement, Magyar Telekom says that the Matching Share Plan was approved by its board in December 2011 and implemented the following year. It required Mattheisen to invest a minimum of 10% of his gross annual variable bonus, with an option to voluntarily increase this to a maximum of 33%, in the company’s shares.
Mattheisen purchased 40,625 shares on March 13, 2014 but they were subject to a four-year lock-up period. After this, one additional share is granted by the company for every one acquired as part of the personal investment.
Magyar Telekom concludes by saying that as a result of the transaction the number of treasury shares it held fell from 40,625 to zero.