Boohoo has handed more than 17m shares to some of its staff, worth £5.6m, at the current price.
The 17,112,212 shares have been shared among 46 employees as part of the Manchester ecommerce group’s Discretionary Share Award Plan.
The shares have a vesting period of 3 years and are subject to continued employment.
The company confirmed that no executive directors received the awards.
Today’s announcement follows Boohoo’s plan to scrap its current incentives scheme and to adopt a “growth plan” to motivate staff. At the time, it said a total of £175m in bonuses would be given to employees – most notably £50m to the CEO and £25m to the CFO.
At the last shareholders’ meeting, 37% voted against the plans.
