// The Hut Group CEO Matthew Moulding to receive one of the biggest payouts in UK corporate history
// The Hut Group saw share prices increase since its IPO in September
// Moulding is also set to receive a base salary of £750,000 a year
The Hut Group (THG) chief executive Matthew Moulding will receive one of the biggest payouts in UK corporate history after the business saw its share prices increase.
Moulding will receive at least £830 million in shares after the share price of THG rose to hit targets set at its flotation on the London Stock Exchange in September.
The total share awards could rise even further if the online retailer’s market value reaches £7.25 billion.
THG, which was founded in 2004, sells itself as a technology provider supporting brands such as Nestlé, Unilever and Danone to sell direct to consumers.
Moulding is also set to receive a base salary of £750,000 a year – a large increase from the £318,000 salary he received in 2019.
In total last year, Moulding’s company paid him £4.7 million, mostly in share awards.
Share awards will be handed to Moulding, along with THG’s chief financial officer John Gallemore, and commercial director Steven Whitehead, once the market value of the company’s shares breaches certain levels.
The executives are only eligible for the full bonus if the company’s value reaches £7.25 billion before December 31 2022.
THG said the equity scheme was put in place when it was a private company, and is “delighted” that over 200 THG staff have already shared in the scheme, worth around £200 million today.”