News on 11 January 2001
Carillion chief executive John McDonough stands to receive shares worth almost £400,000 (at yesterday's closing price) under the company's long-term incentive plan. Along with four other directors, McDonough will receive the Carillion shares if the company's total shareholder return over a three year performance period matches or out-performs total shareholder return over the same period achieved by a comparator group of companies.
McDonough, who joined Carillion from Johnson Controls this month (see News story) was also granted executive share options over a total of 501,930 shares, worth around £730,000.
Exercise of the options is subject to achievement of the performance condition that the earnings per share of the Company over a rolling period of three financial years must increase by a percentage which is not less than the increase in the UK Retail Prices Index over the same period plus four percentage points per annum.
Carillion's shares closed up 10 last night at 145.5 following a bullish trading statement on Tuesday (see News story).
