LONDON – Ithaca Energy (LON:) plc announced transactions under its Share Incentive Plan (SIP) involving its top executives, according to a statement issued on December 24, 2024. The company informed that cash dividends issued on December 20, 2024 were reinvested in the same days to purchase additional shares for their persons holding management positions (PDMR).
The transactions took place through Computershare Share Plan Trustees Limited, which manages Ithaca Energy’s SIP. The reinvestment scheme allows participants to acquire what are called Dividend Shares by automatically using their cash dividends.
Among CEOs participating in the SIP, executive chairman Yaniv Friedman acquired 109 shares, while chief financial officer Iain Lewis (JO:) added 550 shares to his holdings. Both purchases were made at a price of £1.0417 per share at London Stock Exchange (LON:) (XLON).
SIP is designed as a long-term investment plan, which encourages company executives and managers to align their interests with those of shareholders. Transactions under such schemes are common among publicly traded companies and are usually disclosed in accordance with market regulations, such as Article 19 of the EU Market Abuse Regulation.
This news indicates the continued confidence of the executive in the company’s performance and the obligation to participate in its financial results through the reinvestment of dividends. Stock incentive plans like Ithaca’s are often seen as tools to encourage long-term alignment of management and shareholder interests.
Ithaca Energy, which is listed on the London Stock Exchange, is engaged in the exploration and development of oil and gas reserves. The company’s activities and financial results are closely monitored by investors, especially in the energy sector, which is subject to commodity price fluctuations and regulatory changes.
Information about these transactions is based on a public statement and is intended to provide shareholders and the market with transparency about the company’s insider dealings.
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