UK shipbroker Clarksons is listing extra shares in London to reward staff.
The company said it has made an application to the Financial Conduct Authority and the London Stock Exchange for a block listing of 100,000 ordinary shares.
They will be issued occasionally to fulfil options granted under various reward schemes in the UK, the US and internationally.
The stock was trading at £25.35 in London on Monday morning, down 19% so far this year.
At that price, the 100,000 tranche would be worth £2.53m ($3.1m).
The company made a similar move in September 2021, listing stock worth £2.7m then.
This consisted of 71,303 shares.
In April, Clarksons’ top two executives were rewarded more bonus shares and options after a record year.
Chief executive Andi Case built his stake to 2.37%, then worth £22m, as a result, if all restricted and optional stock is included.
And finance and operating chief Jeff Woyda had a 0.63% slice of the world’s biggest shipbroker.
Waiving bonuses
The first set of awards constituted 10% of the 2022 bonus, with deferred shares vesting in 2027. Case was granted 27,305 of these and Woyda 7,061.
The CEO was also given 26,829 shares as no-cost options as part of a long-term incentive scheme, while Woyda received 17,073 options.
Earlier in April, Clarksons said the two bosses were again waiving part of their bonus as overall pay rose after a record 2022.
The annual report revealed their basic pay remained unchanged once more at £550,000 and £350,000, respectively.
Clarksons booked a net profit of £52.2m for the first six months of 2023 — its best-ever result for the year’s first half.
