Evolution Gaming’s major shareholders offer CEO options over one million shares
Key members of the board reward chief executive Martin Carlesund with additional package from their own holdings
Five major shareholders in Evolution Gaming have moved to offer CEO Martin Carlesund a one million share options bonus package.
Shareholders accounting for 32.6% of the shares and votes in the live casino giant – including chairman of the board Jens von Bahr – offered Carlesund the option to acquire shares on 16 January after a mooted bonus scheme failed to hit a 90% approval rate at an EGM back in December.
The options offered to Carlesund by the leading shareholders vest over three years and will entitle the CEO to one million shares in Evolution, in addition to his current renumeration package.
Evolution Gaming CEO Martin Carlesund
A January report from Sydney-based analyst firm Simply Wall St suggests that Carlesund’s pay is modest in comparison to gaming companies of a similar size.
Von Bahr said: “Due to the support for the original proposal from a large majority of the shareholders at the EGM, the board members with shareholding in the company are willing to issue warrants pro rata their holding in order to give CEO Martin Carlesund an internationally competitive compensation package to continue his successful execution.”
Evolution Gaming has gone from strength to strength since Carlesund was appointed CEO in 2016. The live casino provider reported double-digit revenue and EBITDA growth in Q3 2019.