New awards of share options has left Clarksons chief executive Andi Case sitting on a potential stake worth £19.9m ($27.4m).

The working shipbroker has been given 8,253 restricted shares comprising the 10% deferred element of his 2020 bonus.

And Case is also getting 28,576 shares as a performance award.

Clarksons finance and operating chief Jeff Woyda was awarded 2,134 restricted shares and 18,184 performance options.

The restricted shares will vest in 2025, while the options are subject to certain performance conditions over a three-year period — and then a two-year holding period.

Case already has 514,458 Clarksons shares, or a 1.69% stake, and restricted shares and options bring this to 2.25%.

Woyda has a total holding of 0.56%, with options added in.

Based on a price on Thursday of £29.10, the company has a market capitalisation of £884.82m.

In 2017, Case offloaded 243,512 shares at £24.75 each, banking £6.02m, while Woyda disposed of 37,674 at the same price, earning him £0.93m.

Clarksons share price has hit all-time highs under their stewardship, giving the business a total value of more than $1bn at various stages.

Bonus chunk waived

The company's annual report for 2020 revealed that Case had again handed back part of his bonus to the general staff pool as his overall pay dropped last year.

The shipbroker waived 20% of his £2.38m ($3.27m) bonus, as did Woyda.

This meant £750,000 was to be shared among other colleagues, down from £1.3m in 2019.

The basic salaries of the two executives were unchanged at £550,000 for Case and £350,000 for Woyda.

Benefits, pension payments and bonuses brought total remuneration to £3.15m for Case and £1.1m for Woyda.

This compares with £3.26m and £1.17m in 2019, respectively.

The pair also donated 20% of their earnings in the second quarter of 2020 to charity.

Shipbroking

Andi Case options bring stake in Clarksons to $27.4m