Three senior members of management at property portal OnTheMarket have been awarded share options worth a total of £840,000 at today’s market prices.

The shares become available on 1 December 2025, subject to performance conditions being met, according to a posting on the London Stock Exchange website.

However, there is an additional two-year holding period before executives can trade them, should they so wish.

CEO Jason Tebb (pictured, above) was awarded 575,172 share options, Chief Commercial Officer Helen Whiteley received 282,758 options, while Product and Technology Director Morgan Ross was awarded 262,068.

Although the ordinary shares have a face value of 2p, they are currently trading at around 75p.

Performance-related conditions

The performance conditions are based on the total shareholder return achieved by the company relative to the FTSE AIM 100 Index in the three years to the vesting date.

OnTheMarket made an operating profit of £1.3m in the half-year to 31 July 2022 – down by 38% on the previous year as a result of “strategic investments in marketing and the team”.

Group revenue was up by 14% at £17m, however, while average revenue per property advertiser was up 9%.

A spokesman for OnTheMarket said: OTM said: “Option awards align the long-term interests of management and stakeholders. They are subject to the achievement of performance targets before executives can exercise and receive shares.”