Sirius Real Estate Awards 765,496 Deferred Bonus Shares to Executives for FY 2026

Deferred Bonus Plan Grants Nil-Cost Option Shares

On 23 July 2026, Sirius Real Estate Limited announced the issuance of deferred bonus awards to three senior executives, approved by the board based on performance for the year ending 31 March 2026. The awards are nil-cost options over ordinary shares with no par value, designed to defer payment and vest in two equal tranches over two years. This approach is typical among listed companies to align management’s interests with long-term shareholder value and to encourage sustained performance through post-vesting holding periods.

Nil-cost options require no upfront payment by executives, with value derived solely from future share price appreciation and dividends between grant and vesting. Sirius Real Estate’s use of deferred bonus plans aligns with industry standards in real estate investment, balancing competitive executive pay with governance and shareholder alignment. The two-year vesting schedule extends incentives beyond the initial bonus year.

CEO Andrew Coombs Granted 299,152 Deferred Bonus Shares

Andrew Coombs, CEO of Sirius Real Estate Limited, received 299,152 ordinary shares via nil-cost options under the Deferred Bonus Plan for his 2026 financial year bonus. The award reflects the company’s recognition of his performance and forms part of his overall remuneration. Vesting occurs in two equal tranches: 50% on 23 July 2027 and the remainder on 23 July 2028, with rounding down applied to fractional shares.

This transaction was disclosed as a notification by a person discharging managerial responsibilities, complying with JSE and LSE listing rules. Clearance under JSE Listings Requirements was secured before the grant, ensuring compliance with insider trading and market abuse regulations. The transaction was off-market and represents a direct beneficial interest acquisition by the CEO.

CFO Chris Bowman Receives 365,040 Shares Under Deferred Bonus Plan

Chris Bowman, CFO of Sirius Real Estate Limited, was awarded 365,040 nil-cost option shares, the largest individual grant under the July 2026 deferred bonus awards. This recognizes his leadership role in finance for the year ended 31 March 2026. Like the CEO’s award, the shares vest in two equal parts on 23 July 2027 and 23 July 2028.

The relative size of the CFO’s award compared to the CEO’s may reflect role responsibilities, market positioning, and compensation levels within the executive team. As a PDMR, Bowman’s transaction was subject to the same regulatory reporting and JSE clearance requirements. The disclosure enhances transparency around executive equity holdings.

CIO Tariq Khader Granted 101,304 Deferred Shares

Tariq Khader, CIO of Sirius Real Estate Limited, received 101,304 nil-cost option shares under the Deferred Bonus Plan, the smallest of the three grants. The CIO role focuses on portfolio acquisition, asset selection, and investment strategy, critical to the company’s capital deployment and value creation. The award vests equally on 23 July 2027 and 23 July 2028, consistent with other executives.

The size of Khader’s award may reflect his role’s seniority, timing, and compensation framework. The transaction was off-market, constituting a direct beneficial interest, with JSE Listings Requirements clearance obtained prior to grant, ensuring regulatory compliance. This award highlights Sirius Real Estate’s commitment to equity-based incentives across senior management.

Two-Tranche Vesting Extends Incentives Through July 2028

All three deferred bonus awards feature a two-tranche vesting schedule: 50% of shares vest on 23 July 2027 and the remaining 50% on 23 July 2028. This extends the incentive period from the 2026 financial year to mid-2028, aligning with governance best practices and regulatory expectations for executive pay. Fractional shares are rounded down on the first vesting date for clean allocations.

The two-year deferral promotes executive retention and sustained focus, exposes executives to ongoing share price risk, and ensures meaningful equity exposure during critical strategic and operational periods. For shareholders, this structure confirms management’s long-term alignment with value creation beyond short-term metrics.

Sirius Real Estate Limited: Guernsey-Based Dual-Listed Real Estate Investor

Sirius Real Estate Limited is a Guernsey-incorporated real estate investment company listed on the JSE (Share Code: SRE) and LSE (GBP Share Code: SRE), with LEI 213800NURUF5W8QSK566 and ISIN GG00B1W3VF54. Its executive leadership includes a CEO, CFO, and CIO, reflecting operational, financial, and asset management functions typical of real estate investment firms. Dual listings provide access to capital and investors across two major financial markets.

The company invests in property portfolios, manages leasing and asset maintenance, and seeks returns through rental income and capital appreciation. The CIO’s presence underscores the importance of portfolio and capital allocation decisions. Guernsey incorporation offers a distinct regulatory and tax environment influencing governance and reporting.

Regulatory Compliance and JSE Listings Requirements Clearance

Clearance to transact in securities was obtained under JSE Listings Requirements before the 23 July 2026 deferred bonus awards were granted. This standard regulatory step prevents insider trading and ensures PDMRs do not trade during restricted periods or without authorization. Disclosure of clearance and transactions demonstrates Sirius Real Estate’s compliance with securities regulations applicable to JSE-listed companies.

Notification of PDMR transactions is required under both JSE and LSE rules to enhance transparency, prevent information asymmetry, and inform shareholders about senior management’s share acquisitions. The 24 July 2026 disclosure fulfills these regulatory obligations, providing investors with timely information on executive equity grants.

Nil-Cost Options as Performance-Linked Executive Compensation

Nil-cost options used for deferred bonuses allow executives to acquire shares without upfront payment, making the award entirely performance-based. Executives’ returns depend on share price changes between grant and vesting, directly linking their wealth to shareholder value creation.

For Sirius Real Estate, nil-cost options efficiently deliver equity remuneration, avoiding immediate cash outflows while incentivizing executives through extended equity participation. The uniform grant date, vesting schedule, and option structure across all three executives demonstrate consistent remuneration governance and internal equity.

Aggregate 765,496 Shares Reflect Executive Compensation Hierarchy

The combined grant totals 765,496 ordinary shares, allocated among the three executives according to role and compensation level: CFO Chris Bowman with 365,040 shares, CEO Andrew Coombs with 299,152 shares, and CIO Tariq Khader with 101,304 shares. The CFO’s larger allocation relative to the CEO may reflect market factors, tenure, or internal pay relativities.

This total share volume offers investors transparency on equity allocated to senior management for FY 2026 performance. Upon vesting, these awards will dilute existing shareholders proportionally, depending on total shares outstanding and company valuation at that time. The disclosure aids investors monitoring dilution and executive compensation costs.