Six senior Glanbia executives, including boss Siobhan Talbot, are in line to receive a total 379,160 shares worth €6.8m (based on last week’s price of €18) in the dairy and performance nutrition company under the group’s long-term incentive plan announced last week.

They will each receive the shares subject to performance in the plc measured over the next three years (2019-2021).

A regulatory filing was made to the stock exchange on Thursday regarding the incentive plan.

Talbot will be awarded the most shares under the scheme. She is in line to receive 145,752 shares on 1 January 2022, once long-term targets are met. Based on last week’s price these shares are worth €2.4m.

Under the scheme, group finance director Mark Garvey is set to receive 64,520 shares valued at €1.2m, while group secretary Michael Horan is set to receive 27,887 shares valued at €0.5m.

CEO of the performance nutrition business Hugh McGuire is in line for 58,336 shares valued at €1.1m.

HR director Michael Patten is set to receive 31,785 shares worth €0.6m, while CEO of the ingredients business Brian Phelan is set to receive 50,880 shares valued at €0.9m under the scheme.

The shares must not be vested (sold) before March 2022.

Talbot recently signed a new three-year pay deal, which came into effect in January this year. As part of the deal, she will see her base salary increase 20% to €1.05m per year.

Talbot’s total remuneration for 2018 came to just over €2.3m, which included her base salary (€860,000), a €645,000 cash bonus, along with share bonuses and other benefits valued at €836,000.

Mark Garvey also signed a new three-year pay deal which will see his base salary increase to €581,000.