Notes to the consolidated financial statements For the year ended 30 June 2024
30. Equity-settled share-based payments continued b. Long-Term Incentive Scheme (“LTIS”)
c. Employee Benefit Trust (“EBT”) Brooks Macdonald Group plc established an Employee Benefit Trust on 3 December 2010 to acquire ordinary shares in the Company to satisfy awards under the LTIS and LTIP. All finance costs and administration expenses connected with the EBT are charged to the Consolidated statement of comprehensive income as they accrue. The EBT has waived its rights to dividends. The following table shows the number of shares held by the EBT that have not yet vested unconditionally.
The Group made no new awards under the LTIS during the year. The conditional awards, which vest three years after the grant date, are subject to the satisfaction of specified performance criteria, measured over a three-year performance period. No awards expired during the year (FY23: none). Off-cycle awards were made in 2017 to senior executives to replace awards forfeited from previous employers.
2024 Number of options
2023 Number of options
2024 Number of shares 552,633
2023 Number of shares 580,806
5,442
At 1 July
5,442
At 1 July
(4,298)
Exercised in the year
–
123,918
Acquired in the year Exercised in the year
140,495
At 30 June
1,144
5,442
(254,613) 421,938
(168,668) 552,633
The number of share options outstanding at the reporting date was as follows:
At 30 June
2024 Number of options
Exercise price £
2023 Number of options
Vesting period
Scheme year (grant date)
495 649
2015 2016
– – –
2018 2019 2020
1,077 1,416 2,949 5,442
–
2017 (off-cycle)
All years
1,144
At 30 June 2024, options for schemes up to and including the 2017 scheme have vested and are able to be exercised.
154 Brooks Macdonald Group plc Annual Report and Accounts 2024
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