A total of 305,000 shares have been divided between managing director Paul Utting, finance director Paul Hollebone and group operations director Roy Kingston.

Utting is awarded a lion's share of 165,000 while Hollebone and Kingston will each get 70,000 shares.

In addition, a total of 60,000 shares are awarded to senior employees who are not executive directors of the company.

In order to achieve their full entitlement, Wyndeham's earnings per share has to grow by an average 15% above the Retail Price Index (RPI) for three years.

They will grow proportionately if growth is less than 15% above the RPI, but will lapse completely if growth is not at least equal to the increase in RPI over the period.

Under the terms of the plan, the price payable by each person for all the shares allocated to them is a nominal 1 in total.

Story by Andy Scott