Supergroup sets up incentive plan for staff
The founders of Superdry have launched a long-term incentive scheme to allow them to share wealth with Supergroup’s 4,500 staff members.
The company said the move is part of the wider strategy to attract, retain and reward talent.
Julian Dunkerton and James Holder, who founded Supergroup in 2003, will transfer into a fund 20% of their gain from any increase in the group’s share price over a threshold of £18. The fund’s proceeds will then be shared across the Superdry staff base worldwide.
Each £5 increase in the share price over the £18 threshold will see the pair putting £30 million into the fund.
Euan Sutherland, Supergroup chief executive, and Nick Wharton, chief financial officer, participate in existing long-term incentive arrangements and have waived their entitlement to take part in the scheme to ensure it can cover everyone in the group’s stores and head office. The entire cost of the plan is being funded by Dunkerton and Holder.
The scheme will run from 1 October 2017 to 30 September 2020
Dunkerton said: “James and I passionately believe that the success of the Superdry brand is down to the combined work of all our people. As the founders of the business we remain significant investors and it is important to us that we share our on-going success with all colleagues. This is the right way to ensure that our great team is properly rewarded for all the work they are doing to grow our global lifestyle brand.”
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