August 10, 2020 | AtoZ Markets – Electronic trading major IG Group Holdings plc (LON:IGG) has made a cost-free grant of 77,779 shares to its new CFO Charlie Rozes.
The shares granted to Mr. Rozes have a current market value of $759,000, or about £580,000. However, the awards are part of the agreement Mr Rozes signed when he agreed to join IG, as compensation for incentives he forfeited on leaving his previous employer Marsh & McLennan Companies Inc.
Will Charlie Rozes receive the $750K IG stocks award immediately?
The stock awards will not be immediately granted to Mr Rozes. Rather, they will vest subject to Mr Rozes’ continued employment at IG, and the satisfaction of certain conditions as follows:
|
Award 
Multibank Review
T&Cs apply, 18+
eToro Review
74% of retail investor accounts lose money
Capital.com Review
76% of retail CFD accounts lose money
|
Number of Shares subject to Award |
Vesting Conditions |
|
"Restricted Stock Award" |
35,628 |
The Restricted Stock Award will vest in two equal tranches on 1 May 2021 and 1 May 2022. |
|
"Performance Stock Award" |
35,616 
|
The Performance Stock Award will Vest on 30 June 2022 to the same extent as the average vesting outcome for the financial years ending 31 May 2021 and 31 May 2022 of awards granted under the IG Group Sustained Performance Plan. |
|
"NSO Award" |
6,535 |
The NSO Award will vest in three equal tranches on each of 1 May 2021, 1 May 2022 and 1 May 2023. |
Additionally, the Buyout Award was granted pursuant to Listing Rule 9.4.2(2) and will be limited to settlement with Shares purchased in the market.
About Charlie Rozes
Mr Rozes joined IG on June 1, 2020 as an Executive Director and Chief Financial Officer, following which there will be a month’s handover from Paul Mainwaring before he leaves the company.
Charlie Rozes began his professional career with PricewaterhouseCoopers LLP and became a Partner in 2001 in the US management consulting practice and following that held senior executive roles at IBM and Bank of America. In 2007, he joined Barclays plc where he was the Chief Financial Officer of Barclays UK Retail and Business Bank and became the Global Head of Investor Relations in September 2011 until August 2015.
Furthermore, Mr Rozes He was the Group Finance Director at Jardine Lloyd Thompson plc from September 2015 until April 2019 when it was acquired by Marsh & McLennan Companies Inc. Since then, he has played a strong role in the ongoing integration program to successfully merge these two companies.
Charlie Rozes also has an undergraduate degree from Tufts University and an MBA from the Southern Methodist University.
Think we missed something? Let us know in the comment section below