Rightmove has handed out bonuses worth hundreds of thousands of pounds in the form of free shares to three of its top executives.
The bonuses reward Ed Williams, managing director, Nick McKittrick, chief operating officer, and Peter Brooks-Johnson, Rightmove.co.uk managing director, for achieving their performance targets last year.
In 2011, Rightmove upped its revenues and profits, achieving a profit margin of just over 71%. Last week, Rightmove shares rocketed to an all-time high of £14.46.
Williams was awarded ‘nil cost’ 59,486 shares. At around £14 each, the shares would have been worth £826,000 on the day he was awarded them. However, the share bonuses are like options in that they cannot be exercised until various times in the future.
Williams now has a shareholding of 1,072,578 ordinary shares representing 0.99% of the ordinary shares in issue. He also holds executive and Sharesave options over 1,894,345 ordinary shares, deferred share awards over 88,587 ordinary shares and 88,592 performance shares.
McKittrick was also awarded 59,486 ordinary shares and Brooks-Johnson 40,094 shares.
Rightmove has upped its subscriptions to agents this year by 21%
Comments
@ Ravey Davey
You still high from the weekend?
Somerset Agent
Rightmove are already taking private listings, have been for years, via online agents.
Good luck to them, they run a great business.
We all complain about Rightmove, but continue to pay their bill every month (Myself included). If we want to break Rightmoves monopoly, we should start a campaign to 'INSIST' that Rightmove must list private sales. This must be legally binding. Watch us all desert them in our droves if that were to happen.
...light the blue touch paper and stand away.
Discusting, at the very least they should give 50% to charity or give more services free or shares to its existing agents who after all are their lifeblood.