Ling's 700,000 Fletcher share options lapse

More than 700,000 Fletcher Building share options allocated to former ceo Jonathan Ling have reverted back to the company – some because performance targets were missed.

New Zealand’s biggest construction and building products company disclosed to the stock exchange Mr Ling had forfeited his interest in 764,229 share options.

At yesterday's price (NZX: FBU) of $7.34 the shares would be worth $5.6 million, but according to the latest annual report the exercise price for the options were $9.24 and $9.23.

 

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