BT awards 1,000 staff under long-term incentive plan

BT Group has awarded more than 1,000 employees under a long-term incentive plan. 

The telecoms group paid out around 16.7 million worth of shares at £4.69 each, which took the payout across eligible staff to around £78 million.

The awards were given based on performance over a three-year period from 2012, with shares paid out to all employees from across the business.

BT’s chief executive received the largest allocation of shares at 416,719, followed by its finance director who received 391,131 which equates to £1.8 million.

More than 22,000 employees also benefited from a share payout of £1.1 billion in August 2014 after the organisation’s five-year sharesave plan matured.

A BT spokesperson said: “More than a thousand BT employees have received performance-based shares after helping transform the company over the past three years.

“BT is a much better and stronger organisation than it was three years ago and this is reflected in the share price.

“It is generating strong cash flow and delivering higher profits and dividends at the same time as making substantial investments for the future.”