Exclusive: New IG Group CFO Charlie Rozes granted $750K in stock
FNG Exclusive… FNG has learned via regulatory filings that UK online trading firm IG Group has made a cost-free grant of 77,779 shares (LON:IGG) to its new CFO Charlie Rozes.
Mr. Rozes joined IG in June 2020, following the retirement earlier in the year of CFO Paul Mainwaring. He was previously Group Finance Director at insurance and brokerage services firm Jardine Lloyd Thompson plc from 2015 to 2019. Jardine was acquired by Marsh & McLennan Companies in early 2019.
The shares granted to Mr. Rozes have a current market value of £580,000, or about USD $759,000.
The awards are part of the agreement Mr. Rozes signed when he agreed to join IG, as compensation for incentives he forfeited on leaving his previous employer Marsh & McLennan Companies Inc.
The stock awards are not being immediately granted to Mr. Rozes, but rather will vest subject to Mr. Rozes’ continued employment at IG, and the satisfaction of certain conditions (see below), as follows:
Award |
# of shares |
Vesting Conditions |
Restricted Stock Award |
35,628 |
The Restricted Stock Award will vest in two equal tranches on 1 May 2021 and 1 May 2022. |
Performance Stock Award |
35,616 |
The Performance Stock Award will Vest on 30 June 2022 to the same extent as the average vesting outcome for the financial years ending 31 May 2021 and 31 May 2022 of awards granted under the IG Group Sustained Performance Plan. |
NSO Award |
6,535 |
The NSO Award will vest in three equal tranches on each of 1 May 2021, 1 May 2022 and 1 May 2023. |