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GEOX reorganizes SOP for management
14 Dec '05
2 min read
The Board of Directors of leading Italian footwear brand, GEOX listed on the Milan Stock Exchange, has brought about some integration regarding the Stock Option Plan (SOP) for the management, approved on 30.11.2004.
The main integration allows managers who own options to anticipate the exercising of a part of their options in respect to the original terms of the Plan.
The decision of the Board, agreed upon following the proposal of the Remuneration Committee, is due to the excellent performances of the business of the Company and to the strong belief that such results have been achieved thanks to the contribution of the Company's management.
Early exercise has been granted on 340,000 options on a total of 2,850,000 assigned options. The faculty of exercising these options at an earlier stage is allowed from 12 December 2005 onwards, while the remaining options are to follow the original terms of the Plan, they can be exercised from the date of the approval of the financial statements on 31st December 2007.
Geox actively creates, produces, promotes and distributes footwear worldwide with unique patents aiming to guarantee breathability and impermeability. Geox operates in the segment of classic, casual and sport footwear for men, women, and children, priced in the medium to medium-high price range.
Geox is leader in the Italian market in its own segment (AC Nielsen SITA ranking, 1H 2004) and is the leading Italian brand and the third leading brand in the lifestyle casual footwear market internationally for 2004 (Shoeintelligence ranking, Year 2004). 30 different patents registered in Italy and extended internationally protect Geox technology.
The main integration allows managers who own options to anticipate the exercising of a part of their options in respect to the original terms of the Plan.
The decision of the Board, agreed upon following the proposal of the Remuneration Committee, is due to the excellent performances of the business of the Company and to the strong belief that such results have been achieved thanks to the contribution of the Company's management.
Early exercise has been granted on 340,000 options on a total of 2,850,000 assigned options. The faculty of exercising these options at an earlier stage is allowed from 12 December 2005 onwards, while the remaining options are to follow the original terms of the Plan, they can be exercised from the date of the approval of the financial statements on 31st December 2007.
Geox actively creates, produces, promotes and distributes footwear worldwide with unique patents aiming to guarantee breathability and impermeability. Geox operates in the segment of classic, casual and sport footwear for men, women, and children, priced in the medium to medium-high price range.
Geox is leader in the Italian market in its own segment (AC Nielsen SITA ranking, 1H 2004) and is the leading Italian brand and the third leading brand in the lifestyle casual footwear market internationally for 2004 (Shoeintelligence ranking, Year 2004). 30 different patents registered in Italy and extended internationally protect Geox technology.
GEOX
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