Itafos, Toronto, said on March 24 it has awarded an aggregate 1,865,103 restricted share units (RSU) to directors and management under the company’s RSU plan. The company awarded 305,326 RSUs to directors and 1,559,777 RSUs to management.
The RSUs awarded to directors vest one-third on the anniversary of the grant date over a period of three years. The RSUs awarded to management vest based on a combination of time and performance, with 50 percent of the RSUs vesting one-third on the anniversary of the grant date over a period of three years and 50 percent of the RSUs vesting on the third anniversary of the grant date subject to achievement of certain key performance indicators as established by the company’s Board of Directors.