Vodacom CEO Shameel Joosub has spent R3.5 million to acquire 26,864 Vodacom shares at a price of R131.<\/p>\n
This week, Vodacom announced through SENS that it would be allocating over 164,000 of forfeitable shares to top executives, tied to company performance over the next three years.<\/p>\n
The shares are worth millions, and could see the Vodacom Group CEO taking home as much as R12.5 million in June 2017, under good performance conditions.<\/p>\n
In terms of Vodacom\u2019s long-term incentive plan, Joosub stands to be awarded additional performance shares with an on-target value of 50% of his guaranteed pay (R7 million).<\/p>\n
However, this is on condition that he invests in Vodacom shares to the value of 50% of his set salary.<\/p>\n
According to a SENS announcement on Friday (27 June), Joosub has now spent the required R3.5 million in acquiring a further 26,864 shares in the group.<\/p>\n
In its latest annual report, Vodacom recorded that Joosub\u2019s settled share options for the 2014 financial year totalled almost R12.9 million \u2013 a figure reported outside of his total salary of R12,98 million.<\/p>\n
The estimated value of all Joosub\u2019s unsettled share holdings (including restricted shares, bonus incentive schemes, and YeboYethu units) is valued at an estimated R46.6 million.<\/p>\n
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