MTN Nigeria Communications Plc has vested 1,303,029
ordinary shares to 33 of its top executives as part of its Performance Share
Plan (PSP), aimed at incentivizing and retaining key talent.
The PSP is designed to attract, retain, and reward
selected employees who contribute significantly to the company's success. Under
this plan, share rights are granted to employees at specific levels and vest
after a three-year period, contingent upon meeting set performance targets.
Among the beneficiaries, Chief Financial Officer Kadri
Modupe received the highest allocation with 187,496 shares. Other notable
allocations include 85,213 shares to Company Secretary Ukpanah Uto, 96,726
shares to Chief Technical Officer Ibrahim Yahaya, and 26,553 shares to
Executive Director of the MTN Foundation, Sanya Odunayo.
This share vesting initiative underscores MTN
Nigeria's commitment to aligning employee interests with long-term shareholder
value, especially following a challenging financial year marked by significant
foreign exchange losses.
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