In line with the disclosure requirements of the Securities and Exchange Commission (SEC) and the Nigerian Exchange (NGX) Limited, Access Holdings Plc has announced the award of 23.8 million ordinary shares to some of its senior executives and executives of Access Bank, its flagship subsidiary.

This is in pursuant of the terms of its shareholders approved Employees Performance Share Plan. The acting group chief executive officer of Access Holdings, Bolaji Agbede, the managing director/chief executive officer of Access Bank, Roosevelt Ogbonna and six others were vested with 23.884 million units of the group’s shares, worth a combined N427.13 million.

Access Holdings stated that “this was disclosed via notices duly filed with the Nigerian Exchange Limited on May 7, 2024.”

According to the filings, Ogbonna got the highest amount of shares totalling 12.346 million units and worth N220.37 million, having been traded at N17.85 per share. Agbede was vested with 2.217 million units of shares, valued at N39.795 million.

“Other directors, who had shares vested include the executive director, African Subsidiaries, Access Bank, Seyi Kumapayi with 1.235 million worth N22.16 million; and executive director, Commercial and Investment Banking Division, Access Bank, Iyabo Soji-Okusanya with 1.691 million at N17.95 per share.

“Her vested shares are valued at N30.36 million, and Chizoma Okoli, Access Bank’s deputy managing director, Retail South, who got 1.728 million units valued at N30.85 million.”

It added that “Dr Gregory Jobome, executive director, Risk Management, and Hadiza Ambursa, executive director, Commercial Banking, were each vested with 1.728 million, while Access Holdings’ Company secretary, Sunday Ekwochi was vested with 1.210 million units of the group’s shares. The shares were vested on May 3rd and May 6th, 2024. The vesting of the shares is not a purchase or sale transaction in the context of the Exchange’s Rules.”