Roadside Real Estate PLC (AIM: ROAD) has granted 7,637,158 stock options to five directors and key management personnel, as detailed in recent board materials.
Breakdown of Option Allocations
Chairman Steve Carson received the largest allocation of 3,947,367 options. Chief Financial Officer Douglas Benji and director Simon Jones, responsible for real estate operations, each secured 1,315,789 options.
Chief Operating Officer David Philpott obtained 909,090 options, while group finance director James Shurager was awarded 149,123 options.
Terms and Vesting Schedule
These options carry an exercise price of 0.00861 pounds, with an average price of approximately 0.008607 pounds per share. They qualify as fair value incentives for the board, calculated through 2025.
Vesting occurs in tranches: For Carson, Benji, and Jones, two-thirds vest on May 31, 2027, and one-third on May 31, 2028. Philpott’s options follow a similar pattern, vesting two-thirds on November 10, 2027, and one-third on November 10, 2028. Shurager’s options vest fully on March 31, 2029.
Each vested tranche becomes exercisable within six months of the vesting date. The options hold no voting or dividend rights until exercised.
Impact on Share Capital
This grant represents a potential dilution of 4.3% to the company’s existing share capital upon full exercise.
Roadside Real Estate PLC operates as a residential property investment firm in England, with a focus on London, and trades on the AIM market of the London Stock Exchange. Recent board changes reflect ongoing strategic adjustments.
