ITV chief executive Charles Allen has landed a£600,000 share award after turning in better than expected profits.
ITV chief executive Charles Allen has landed a£600,000 share award after turning in better than expected profits.

Allen, who unveiled£340m of profits in ITV's latest results, has been given 465,552 shares for reaching a number of financial goals between 1 April and 31 December last year. At Tuesday's share price of 128p, this values the award at£595,906.

At the same time ITV finance director Henry Staunton has been handed a windfall, picking up 274,232 shares (£351,016) for his part in hitting the targets.

However, the pair will not be able to cash in on the award for the first year, because as part of the deal no shares from the award can be sold until March 2006, when 50% become available. In March 2007 the remaining 50% of the award can be sold.