Former Fletcher construction boss Darlow forfeits stake when targets not met

Fri, 14 Jul 2017

By Rebecca Howard July 14 (BusinessDesk) - Graham Darlow, who left his role as head of the Fletcher Building's construction division after it reported unexpectedly weak earnings this year, forfeited about $1.2 million of shares when he didn't meet financial targets. Darlow forfeited 177,745 shares, retaining only 34,791 shares, according to a notice on the stock exchange. A company spokeswoman said the disclosure relates to shares he held under the company’s long-term incentive scheme and which he became beneficially entitled to under t...

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