Access Holdings Plc, a leading financial institution, has recently vested approximately 23.81 million shares valued at over N420 million to its directors.
The share vesting process, a common practice in corporate governance, allows employees, investors, or co-founders to gradually receive full ownership rights to shares or stock options over a specified period.
In this instance, Access Holdings Plc has chosen to reward its directors with shares, signifying confidence in their leadership and contributions to the company’s growth trajectory.
Among the beneficiaries of this share allocation are key figures within Access Bank, a subsidiary of Access Holdings Plc, as well as the acting Group Chief Executive Officer (GCEO).
Recipients include Sunday Okwochi, the company secretary, who received 1.2 million shares at N17.95 per share, and Hadiza Ambursa, a director of Access Bank, who was allocated 1.72 million shares at the same price.
Other directors, such as Gregory Jobome, Chizoma Okoli, Iyabo Soji-Okusanya, Seyi Kumapayi, and Roosevelt Ogbonna, also received allocations ranging from 1.234 million to 12.345 million shares, each valued between N17.85 and N17.95 per share.
Bolaji Agbede, the acting Group CEO of Access Holdings, was granted 2.216 million shares at N17.95 per share, further solidifying his stake in the company’s success.
This move by Access Holdings Plc comes amidst a dynamic economic landscape, where organizations are strategically positioning themselves to navigate challenges and capitalize on emerging opportunities.
By incentivizing its directors through share vesting, the company aims to foster a sense of ownership and accountability while motivating top talent to drive innovation and sustainable growth.
The share vesting scheme not only rewards directors for their past contributions but also incentivizes them to remain committed to the company’s long-term vision.
