TNB CEO receives 88,900 shares under long-term incentive plan

KUALA LUMPUR: Tenaga Nasional Bhd (TNB) president and chief executive officer Datuk Megat Jalaluddin Megat Hassan has received 88,900 shares in the national utility company.This works out to RM1.20 million based on TNB's share price of RM13.

50 as at 4pm. The blue-chip counter rose two sen or 0.15 per cent, bringing its market capitalisation to RM78.



47 billion.In a filing with Bursa Malaysia, TNB said the shares were vested under its long-term incentive plan (LTIP), a scheme designed to reward performance and retain key leadership talent.The LTIP grants both restricted shares (RS) and performance shares (PS) to eligible employees and executive directors.

RS are subject to time-based conditions, while PS are awarded upon achieving specific performance targets.Megat Jalaluddin now holds 178,500 shares in the utility giant, representing less than one per cent of the company's issued share capital. In June 2024, he was awarded 79,600 shares under the LTIP.

Megat Jalaluddin, who assumed the top role on March 1, 2024, has held several key leadership positions throughout his 30-year career at TNB, including chief operating officer, chief strategy and ventures officer and chief retail officer.The LTIP forms part of TNB's broader executive compensation framework, aimed at aligning leadership performance with long-term shareholder value.© New Straits Times Press (M) Bhd.