MTN has handed out new share awards to its top executives, including its Nigeria chief, as part of a long-running incentive plan tied to performance.
In a regulatory filing released on April 7, MTN Group confirmed that several senior leaders received ordinary shares under its Performance Share Plan.
The awards were made on March 31, 2026 and come with conditions that tie them to future results.
The biggest allocation went to group chief executive Ralph Mupita, who received 207,633 shares valued at about $2.4 million. The shares will only vest after three years, provided performance targets are met.
Other senior executives also received large grants. Group finance chief Tsholofelo Molefe was awarded 111,931 shares, while Ebenezer Asante received 120,880 shares.
In Nigeria, Karl Toriola was allocated 28,704 shares, worth around $335,000 at the time of the award.
The shares were priced at $11.77 (R192.50) each. Like others in the scheme, they will only become accessible after a three-year period.
MTN said all the share awards were granted off-market and carry direct beneficial interest for the recipients. The vesting date has been set for December 2028.
The filing also shows that executives in key markets receive more than one layer of incentives. In addition to group-level shares, both Toriola and Modupe Kadri are entitled to long-term incentives linked to MTN Nigeria itself.
Across the group, directors and senior officers in South Africa and Ghana were also included in the latest round of awards. These include executives overseeing major subsidiaries and company secretaries, all under the same plan structure.
MTN’s share plan has been in place since 2010. It is designed to reward senior staff while keeping them focused on long-term performance.
The company requires recipients to meet set targets before the shares fully vest, and some may be forfeited if those targets are not achieved.
