Better Collective, a leading sports betting media group and developer of iGaming educational platforms, has announced a new management incentive plan that will see management staff and some key employees in Action network being granted if they remain with the company.

Reward employee loyalty

Designed by the Compensation Committee and approved by the Board of Directors, the new executive incentive plan announced by the Better Collective Board of Directors will aim to retain, motivate and reward Action Network executives and key employees , as well as to help align interests between participating Action Network and Better Collective shareholders.

The Better Collective board saw the need for a new management incentive plan after the acquisition of Action Network, which made the previous plan obsolete. The new plan will include financial forecasts for the acquired company based on the revenue and EBITDA projections presented in the transaction, and will reward a total of 20 employees with a grant of 473,563 performance share units and 201 238 sharing options.

Participants in the reward program will be offered performance share units that will track Better Collective’s share price on Nasdaq Stockholm from the time the units are awarded. At the end of the program, each participant who will continue to work in the Better Collective group will receive a share of Better Collective with a nominal value of € 0.01 for each performance share unit.

Stock options awarded to certain participants under the management incentive plan will become exercisable at the end of the program and assuming continued employment within the Better Collective group. Each option will allow the purchase of one share with a par value of € 0.01 against payment of an exercise price determined on the day of the closing of the allotment paid in cash.

The Management Incentive Plan in detail

The award program will have a duration of three years and a performance period starting at June 1 and ending December 31, 2024. It is rated at $ 12 million 100% completion of the plan. Key Performance Indicators (KPIs) will be measured against revenue and EBITDA forecasts, each of which has the same weight.

Performance measurement units and stock options will vest in three installments, one-third each year, two weeks after Board approval of the audited financial results, scheduled for February of each year.

After completion of the management incentive plan, plan participants will be included in Better Collective’s larger long-term incentive program.

The management incentive plan is not expected to have a dilutive effect on the shares held by the shareholders of Better Collective as the company will initiate appropriate share buyback programs to fulfill its obligations set out in the rewards program.