Zara’s stock owner results make 11 CEOs take six million euros in shares – Executive Digest

Inditex, the owner of such brands as Zara or Bershka, has distributed more than six million euros in group shares among its management leaders. Addresses were distributed to the Group CEO, Oscar García Maceras, the nine executives who are part of the Board of Directors and the Board Secretary, Javier Montoliva.

This amount corresponds to the settlement of the second and final cycle of the incentive plan 2019-2023, which includes variable remuneration for senior executives and employees of the group, which is linked to the achievement of certain goals.

According to information sent to the National Commission of the Securities Market (the Portuguese equivalent of CMVM), Inditex delivered 202,500 shares to 11 of its key executives on April 4, at a price of €30.39 each, the previous day’s stock exchange, revealing ‘Cinco Dias’ ‘. “.

However, the volume of securities distributed by the administrative leadership is 21% lower than that recorded in the first cycle, which was settled in April 2022, but its value is 20% higher, thanks to the recovery of the quote last year.

The first-cycle settlement was executed at a price per share of €19.88, 35% lower than the current price.

The €6.1 million, equivalent to 202,500 shares, is already net of taxes.

The CEO of the group, Oscar García Maceras, received a total of 26,361 bonds on April 4, with a net value of €800,000. In the first round of the incentive plan, he got only 4,925, at €19.88 each.

Of the nine board members, five have received shares worth €687,000 each in the past week, including Ignacio Fernandez, Chief Financial Officer, Javier García Toralbo, Director of the Digital District, Maria Beatriz Padin, Director of Zara, Oscar Perez Marcote, Director of Zara, and Begoña López Cano, People’s General Manager.

José Carlos del Pado, Director of Pull & Bear, Jorge Pérez Marcote, Director, Massimo Dutti, Jose Miguel Diaz, Chief Financial Officer of Zara, and Javier Montoleva, General Secretary, received just under half, while Sustainability Director, Javier Losada, only participated in The second session and he won 383.00 euros in stocks.