Shoprite execs, directors in R110m share award

Shoprite Holdings has granted directors and executives of the group, as well as its main subsidiary Shoprite Checkers, for feitable share awards totalling R110 million.

- - Moneyweb

The first chunk, for awards in terms of its executive share plan, totalled R56 million, while those in terms of its short-term deferred incentive totalled R53.8 million. The former grant has a three-year vesting period, while the latter’s is two years.

Of the total, CEO Pieter Engelbrecht was granted a total of R33.4 million in performance-based awards, and CFO Anton de Bruyn was granted a total of R14.7 million in awards.

The group’s deputy CEO, Joseph Brönn, was granted R13.1 million in awards, and its COO, Willem Hunlun, received R10.3 million in awards.