OnTheMarket looks to retain top employees with share plan – London Wallet

OnTheMarket (OTM) has made retaining its top employees a major priority by issuing a fresh round of share options to its senior staff.

OTM has announced that it granted the following options on Friday over 3,010,484 ordinary shares of £0.002 in the company to chief executive Jason Tebb, chief commercial officer Helen Whiteley, chief financial officer Tom Carter and product and technology officer Morgan Ross.

The options vest in two equal tranches on 20 July 2025 and 20 July 2026, before exercise is possible. All the options have a nil exercise price and require continued employment, subject to exceptions.

The options vest on 20 July 2026, with a further two year holding period following the vesting date before exercise is possible. All the options have a nil exercise price and are subject to performance conditions measured at the end of the performance period by the Board determining the Company’s CAGR total shareholder return (TSR) performance.

The options vest on 20 July 2026, with a further two year holding period following the vesting date before exercise is possible. All the options have a nil exercise price.

This award is retention-focused  and as such have no formal pre-vesting performance criteria other than continued employment within the company.

OnTheMarket earlier this month published its results for the year ended 31 January 2023 and reported record group revenues and profits with continued strategic progress.

UPDATE: OnTheMarket grows profits, cash – and valuation leads