The board of directors of ACS has given the go-ahead this Wednesday for a new long-term incentive plan aimed at the group’s executives for the period 2026-2031. The scheme includes the allocation of 1.15 million shares and seven million call options, as the company has notified to the Comisión Nacional del Mercado de Valores (CNMV).
This program, approved within the scope of the authorization granted by the general shareholders’ meeting held on 8 May, is structured into two differentiated tranches: Long-Term Incentive Plan 1 (PILP-1), which includes the delivery of shares, and Long-Term Incentive Plan 2 (PILP-2), which relates to stock options.
The rights are granted with an effective date of 1 July and will be subject to a period of unavailability of three years, which will be extended until 30 June 2029. The exercise of those rights may be carried out in the two years following the end of that period, through deliveries or partial exercises between the fourth and fifth year of the plan’s term.
The receipt of the shares or the exercise of the options is conditional on ACS’s operating, financial and sustainability performance between 2026 and 2028 reaching certain targets, defined using weighted criteria based on annual return to the shareholder (RTA), return on equity (ROE), and the DJSI percentile. In the case of the RTA and the ROE, the weighting will be 40% for each, while the DJSI will represent the remaining 20%.
The exercise price of the options has been set at 90.15 euros per share, while the reference value of the shares to be delivered will be determined by the last trading price immediately prior to the moment they are awarded.
In addition, the benefiting executives must retain an interest in ACS whose market value is equivalent, as a minimum, to double their annual fixed salary. This requirement will cease to apply once two years have passed since the delivery of the shares or at the moment the employment relationship with the company is terminated.