LONDON - OptiBiotix Health plc (AIM: OPTI), a developer of compounds for obesity, cholesterol, diabetes, and skincare, has issued new share options to its CEO, Stephen O'Hara. The grant comprises 6,099,135 options with an exercise price of 16 pence per share, expiring on December 17, 2034, and vesting on December 17, 2025.
This issuance comes after a similar number of options, with an exercise price of 8 pence, expired in September 2024. The decision to grant these new options is considered a related party transaction under Rule 13 of the AIM Rules, due to O'Hara's position within the company.
The independent directors of OptiBiotix, with advice from Cairn Financial Advisers LLP, have deemed the terms of the transaction to be fair and reasonable for shareholders. The announcement of these new options was previously inside information as per the UK Market Abuse Regulation.
The company's actions reflect standard practices of incentivizing key executives through share options, which are often intended to align the interests of management with those of shareholders. It is common for options to vest over time, encouraging the recipient to contribute to the company's long-term success.
The information regarding the share options grant is based on a press release statement from OptiBiotix Health plc.
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