MFB - Employee Share Schemes - Issue of Rights

Tuesday 20th December 2022

As previously indicated, My Food Bag operates two incentive schemes: (1) an employee share ownership scheme linked to retention for all permanent employees (other than those participating in the LTI) working at least 30 hours per week; and (2) a long term incentive scheme for senior employees which is partly linked to retention and partly linked to performance. The primary grant under these incentive schemes occurred on 30 June 2022 following the release of My Food Bag's FY22 results. My Food Bag has now completed a secondary grant predominantly for those employees who did not participate in the earlier grant or have had a material change in role.

Employee share ownership scheme (ESOS)

65,949 Share Rights have been issued to eligible employees of My Food Bag under the company's employee share ownership scheme. An updated Capital Change Notice reflecting this grant accompanies this announcement. As set out in that notice, 43,966 Share Rights have lapsed and been cancelled since the earlier grant in 2022 due to participants failing to satisfy the vesting conditions (e.g. as employees have left the business during this period).

Long term incentive schemes (LTI)

154,675 Performance Rights have been issued to eligible senior employees of My Food Bag under the company's long term incentive scheme. An updated Capital Change Notice reflecting this grant accompanies this announcement. As set out in the notice, 658,398 Performance Rights have lapsed and been cancelled since the earlier grant in 2022 due to participants failing to satisfy the vesting conditions (e.g. as employees have left the business during this period).

More details in relation to each grant is included in the accompanying Capital Change Notices.

Authorised by:

Mark Winter, CEO

Ends

Comments from our readers

No comments yet