Both the CEO and finance chief of Rightmove have ‘found their happy’ after being given share options worth between them over £2.23 million at today’s stock price of £4.97p, and possibly substantially more if the price is higher when they cash them in.
The options are in part to reward the pair for hitting their bonus targets last year, and to incentivise them to keep the Rightmove profits juggernaut rolling.
The largest share of the bonus pot goes to CEO Peter Brookes-Johnson (pictured, above) who is to receive bonus target deferred share options worth £280,800 which he can cash-in two years from now, and a further tranche of share options worth £1.02 million which can be sold in three years’ time, assuming certain performance criteria are met.
This means Brooks-Johnson now holds shares and options worth £8.8 million.
£1,000 per branch
The deal for the 46-year-old follows Rightmove’s full-year results for 2018 which revealed that the average monthly payment per customer hit £1,000 a month last year, and that both profits and revenue increased by 10%.
Chief Finance Officer Robyn Perriss (pictured, above), 45, has received options worth £201,600 for reaching her 2018 bonus targets, and future performance share options worth £730,850, again assuming the business performs well. Perris can cash-in her shares a year earlier than Brooks-Johnson.
The latest award gives Perris a total shareholding including options worth in total £1.19 million through the bonus scheme, although she has a substantial shareholding through other schemes.
The awards follows news last week that Rightmove’s chairman Scott Forbes is to leave the company in 2020 after 14 years following a minor but politically significant shareholder revolt last year.