It takes a lot to shock me, but I remember my flabber being roundly gasted two years ago when I heard that Mark Garvey, chief financial officer at Glanbia, was to be awarded almost three quarters of a million euro in share options. All he had to do to earn them was to not quit his job before the end of December 2025.
We heard from Glanbia this week that Garvey, having managed to not quit his job, was awarded 42,545 shares valued at €17.25 each. That is €734,000-worth of shares.
The thing that struck me on seeing this week’s announcement is how impeccably timed it was. When the award was made two years ago the shares were trading at €17.28, almost exactly the same as the level at which it vested this week.
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In the two years between the two events, shares traded for as little as €9.20, a level which would have considerably reduced the value of the payout.
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It takes a lot to shock me, but I remember my flabber being roundly gasted two years ago when I heard that Mark Garvey, chief financial officer at Glanbia, was to be awarded almost three quarters of a million euro in share options. All he had to do to earn them was to not quit his job before the end of December 2025.
We heard from Glanbia this week that Garvey, having managed to not quit his job, was awarded 42,545 shares valued at €17.25 each. That is €734,000-worth of shares.
The thing that struck me on seeing this week’s announcement is how impeccably timed it was. When the award was made two years ago the shares were trading at €17.28, almost exactly the same as the level at which it vested this week.
In the two years between the two events, shares traded for as little as €9.20, a level which would have considerably reduced the value of the payout.
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