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Mirion Technologies, Inc. (NYSE:MIR) announced Monday that its Board of Directors approved a special one-time grant of performance vesting stock options to Thomas Logan, the company’s Founder, Chairman, and Chief Executive Officer. The decision was made on April 9.
According to the press release statement, Logan was granted a target of 2,500,000 performance vesting stock options. The options have a seven-year term and are subject to vesting based on both his continued service to the company and the achievement of specified levels of total shareholder return (TSR) relative to the Russell 2000 Index, excluding financial services and insurance companies. The TSR will be measured over two periods: three years and four years from the grant date. Any shares that vest are subject to an additional one-year holding period following the applicable vesting date.
The company stated that the options will only vest if certain performance thresholds are met, with the minimum payout requiring at least 60th percentile performance relative to the specified index. The number of stock options that vest for each tranche can range from 0% to 150%, depending on the company’s relative TSR performance. The award is structured so that no value is realized unless Mirion’s stock appreciates.
If Logan’s service with the company ends after the third anniversary but before the fourth anniversary of the grant date, and the termination is not for cause, he will be eligible to vest in a prorated portion of the outstanding option award based on his service during the second performance period.
The company noted that non-cash charges related to the option award will be reflected in financial guidance provided at the next earnings release.
Mirion Technologies also indicated that this is intended to be a one-time equity award outside of its regular annual compensation cycle for the duration of the performance and holding period.
This information is based on a press release statement included in a filing with the Securities and Exchange Commission.
In other recent news, Mirion Technologies reported its fourth-quarter earnings for 2025, which fell short of expectations. The company posted an earnings per share (EPS) of $0.15, missing the forecasted $0.16. Additionally, revenue came in at $277.4 million, slightly below the expected $278.85 million. Despite these shortfalls, Mirion Technologies has maintained a stable position in the market. Melius has reiterated a Buy rating for the company, setting a price target of $29.00. The firm highlighted that 47% of Mirion Technologies’ revenue is tied to nuclear power, with substantial operations in the U.S. and France. Melius noted that the company has developed a recurring revenue base around the operating nuclear fleet, suggesting potential growth as energy security becomes a priority in Europe. These developments indicate ongoing interest and confidence from analysts in Mirion Technologies’ business model and market position.
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