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Tower Limited ( (AU:TWR) ) just unveiled an announcement.
Tower Limited has issued share rights over 1,029,302 ordinary shares to employees under its Long Term Incentive Plan, representing 29.21% of the relevant class of unquoted share rights on issue. The rights, which are granted for no cash consideration and are non-transferable with no voting or distribution entitlements, will convert into ordinary shares on a one-for-one basis only if Tower’s total shareholder return is positive and outperforms the NZX 50 over a three-year vesting period to December 2028, underscoring the company’s use of performance-based equity to align staff incentives with shareholder returns and market benchmarks.
More about Tower Limited
Tower Limited is a New Zealand-based insurance company listed on the NZX under the ticker TWR, operating primarily in the general insurance sector. The company provides insurance products and services to retail and business customers across New Zealand and the Pacific, with a focus on leveraging long-term incentive structures to align employee performance with shareholder outcomes.
Average Trading Volume: 89,294
Technical Sentiment Signal: Buy
Current Market Cap: A$593M
For an in-depth examination of TWR stock, go to TipRanks’ Overview page.