// Boohoo has handed shares to about 5,000 employees, including CEO and Chief Financial Officer
// The move is part of a commitment to encourage all employees to become shareholders of the business
Fast fashion giant Boohoo has handed shares to almost 5,000 of its employees, including its chief executive and chief financial officer.
The Manchester-headquartered business has said the move is part of its commitment to encouraging all employees to be shareholders in the business.
The AIM-listed retailer has confirmed a a total of 15,441,664 ordinary shares of 1p each have been granted to employees.
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In a statement, Boohoo said a total of 4,924 employees were found eligible and applied for the 2021 Share Incentive Plan.
As a result, 3,136 free common shares will be granted, which is equivalent to approximately £ 3,600 at the purchase price of £.[1.15] Per common stock.
Free shares were awarded on January 12, 2022 and will be subject to a three-year forfeiture period.
The move comes after Boohoo confirmed in November that a total of 1,387 of its employees are taking part in the Save As You Earn (SAYE) share scheme for 2021.
In a statement issued at the time, Boohoo said the scheme was open to all employees, “giving them the opportunity to participate in the future growth of the company via share option arrangements”.
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