CARDIFF, UK - IQE plc, a leader in the semiconductor wafer industry, has granted its Interim CEO and CFO, Jutta Meier, 860,092 share options as part of its Long Term Incentive Plan (LTIP), the company disclosed Thursday. The award aligns with the company's performance period ending on December 31, 2026.
The options, over ordinary shares of 1 pence each, were awarded at no cost and are contingent upon the company's performance over the next three years. This incentive is designed to align the interests of the executive with those of the shareholders and the long-term success of the company.
The transaction, which took place off-market on November 28, 2024, was announced in accordance with the EU Market Abuse Regulation, as incorporated into UK law. This regulation mandates public disclosure of transactions by persons with managerial responsibilities and those closely associated with them.
IQE specializes in the production of compound semiconductor wafers and provides advanced material solutions to the global semiconductor industry. With a strong intellectual property portfolio and manufacturing locations across the UK, US, and Taiwan, IQE supports a variety of sectors, including smart devices, communications infrastructure, automotive, industrial, aerospace, and security.
The grant of share options to a key executive is a common practice in corporate governance, aimed at motivating top management to work towards enhancing shareholder value over the long term. The performance conditions attached to the LTIP will typically be linked to the company's financial and operational targets.
The announcement of this LTIP award is based on a press release statement from IQE plc and has been made public as part of the company's commitment to transparency and regulatory compliance.
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