NZME cancels former CFO’s performance share rights under 2023 incentive plan

NZME ( (NZMEF) ) has provided an announcement.

NZME has disclosed that former chief financial officer David Wylie Mackrell has had 148,747 performance share rights cancelled under the company’s 2023 Total Incentive Plan, with no cash consideration paid. Following the cancellation, Mackrell retains a legal and beneficial holding of 713,285 ordinary NZME shares, while his beneficial interest in performance share rights under the long-term incentive scheme falls to zero, slightly reducing potential future share dilution for existing investors.

The disclosure, lodged under the Financial Markets Conduct Act, reflects routine post-departure adjustments to an executive’s long-term incentive entitlements rather than an on-market trade. It underscores the company’s adherence to NZX reporting rules around directors’ and senior managers’ relevant interests, providing transparency to shareholders regarding changes in equity-linked remuneration arrangements.

More about NZME

NZME Limited is a New Zealand-based media company listed on the NZX under the ticker NZM. It operates across print, radio, and digital platforms, providing news, entertainment, and advertising services to consumers and businesses in the New Zealand market.

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