Magnum Ice Cream Grants 6.27M Executive Options with TSR Targets
MICC•Magnum Ice Cream granted 6.27M options to six executives, including 2.36M to its CEO and 1.33M to its CFO, at exercise prices of EUR15.33, GBP13.23 and USD17.82. Options vest 50% after three years and 50% after four years if TSR beats sector median, exercisable until year seven.
1. Foundation Plan Objectives
The Foundation Plan is a one-time co-investment initiative designed to align executive incentives with long-term shareholder value by granting options in ordinary shares. It requires participants to maintain personal share investments and drive TSR above a sector peer median to realize full vesting.
2. Vesting Schedule and Conditions
Each grant vests 50% after three years and the remaining 50% after four years, contingent on TSR outperforming the peer group median. Exercisable from vesting until the seventh anniversary, all awards carry malus and clawback provisions to protect stakeholders.
3. Executive Option Allocations
CEO Peter ter Kulve received 2,362,060 options at EUR15.33, CFO Abhijit Bhattacharya 1,330,010 at EUR15.33, CHRO Ronald Schellekens 1,071,235 at GBP13.23, President Americas Gerardo Rozanski 836,848 at USD17.82, President Europe & ANZ Mustafa Seckin 268,408 at EUR15.33, and President Asia Wai Fung Loh 397,573 at EUR15.33.
