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NZME ( (NZMEF) ) has shared an announcement.
NZME Limited has cancelled 716,530 long-term performance share rights issued under its 2023 Total Incentive Plan after vesting conditions for the 2023 grant were not met. The cancelled rights represent 100% of that specific class of performance share rights, leaving no securities remaining from the 2023 LTI grant, although other performance share rights from prior grants under the broader incentive plan remain on issue.
The lapse and cancellation were authorised by a directors’ resolution dated 26 March 2026, in line with the original terms of the 2023 grant. The move effectively resets that tranche of equity-based incentives without any cash cost to the company, and underscores that management did not achieve the performance hurdles set for that period, which may have implications for executive remuneration alignment and investor perceptions of recent performance.
More about NZME
NZME Limited is a New Zealand-based media company listed on the NZX under the ticker NZM. It operates across radio, print, and digital platforms, with a focus on news, entertainment, and advertising services for the New Zealand market.
Learn more about NZMEF stock on TipRanks’ Stock Analysis page.