Vodacom Awards Conditional and Forfeitable Shares to Executives Under Long-Term Incentive Scheme

Vodacom Group Limited  announced the allocation of conditional and forfeitable shares to its executive directors, key management, and senior subsidiary executives under its long-term incentive schemes. The awards were made in line with JSE Listings Requirements and are part of the company’s performance-linked remuneration structure. All shares were awarded on 12 June 2026 at a price of R152.9604, with a vesting period of three years, and were acquired on-market with all necessary clearance to deal approvals obtained.

The largest awards were made to the group’s executive directors. The Chief Executive Officer, MS Aziz Joosub, received 224,574 shares valued at approximately R34.35 million, while the Chief Financial Officer, RK Morathi, received 79,938 shares valued at about R12.23 million. These awards are fully subject to performance conditions and are designed to align executive remuneration with long-term shareholder value creation.

The Group Company Secretary, KE Robinson, was awarded 9,283 forfeitable shares valued at roughly R1.42 million, also subject to a three-year vesting period. This forms part of the broader equity participation structure extended to senior leadership within the group.

Within the subsidiary Vodacom (Pty) Limited, several directors received conditional and forfeitable share awards. These included senior executives such as the CEO of Vodacom South Africa, S Mdlalose, as well as the financial, HR, consumer, technology, and commercial directors. The awards varied in structure, with some fully performance-based and others split between conditional and forfeitable components.

Overall, the awards reinforce a remuneration strategy focused on retention and performance alignment over a three-year horizon. The sponsor to the announcement was Investec Bank Limited.