This news aggregator site highlights South African labour news from a wide range of internet and print sources. Each posting has a synopsis of the source article, together with a link or reference to the original. Postings cover the range of labour related matters from industrial relations to generalist human resources.
Moneyweb reports that petrochemicals giant Sasol has granted executives share options under its long-term incentive plan worth over R106 million at current prices.
The grants, made to 15 directors of the parent company as well as major subsidiaries, were disclosed to the market on Wednesday last week. Joint presidents and chief executive officers Bongani Nqwababa and Stephen Cornell received shares worth around R22.5 million and $1.7 million respectively, with Cornell receiving US-listed American depository receipts (ADRs). Chief financial officer Paul Victor received shares worth R12 million. The options vest in two tranches: the first 50% after three years, and the balance after five years. The shares (and ADRs) were awarded on 3 September, at a strike price of nil. For the 2018 financial year, the long-term incentive programme saw executives measured against three Corporate Performance Targets (CPTs): increase in tons produced per head, growth in attributable earnings, and total shareholder return (against three different indices, including the JSE Resi 10). In 2018, they achieved a CPT score of 69%. They under-performed on the TSR (Total Shareholder Return) as well as growth in earnings measures.
- Read this report by Hilton Tarrant in full at Moneyweb
Get other news reports at the SA Labour News home page