Vodacom CEO Aziz Joosub, top brass unlock over $5 million in share awards

Vodacom Group Limited, a leading and purpose-led African connectivity, digital and financial services company, has awarded and disclosed share allocations worth over R81.25 million ($5.01 million) to its chief executive, chief financial officer, company secretary, and several senior executives across its South African and subsidiary operations, under its conditional and forfeitable share incentive schemes.

The disclosures, made in compliance with Johannesburg Stock Exchange (JSE) Listings Requirements, reflect long-term incentive awards granted on June 12, 2026, with a three-year vesting period and full or partial performance conditions attached to most allocations.

The share awards are part of Vodacom’s equity-based remuneration framework designed to align executive compensation with performance delivery and shareholder value creation across its African operations.

CEO leads allocations under performance-linked scheme

Chief Executive Officer Aziz Joosub received the largest allocation, with 224,574 conditional shares valued at about R34.35 million ($2.12 million). The shares are fully subject to performance conditions and will vest over three years from the date of grant.

Chief Financial Officer Raisibe Kgomaraga Morathi was awarded 79,938 conditional shares valued at approximately R12.23 million ($754,410), also fully performance-based and subject to the same vesting timeline.

Group Company Secretary KE Robinson received 9,283 forfeitable shares worth about R1.42 million ($87,589), under a similar three-year vesting structure.

Subsidiary leadership and senior management also included

At Vodacom (Pty) Limited, CEO: Vodacom South Africa S Mdlalose received two allocations totaling about R8.31 million ($512,581), structured under conditional share awards linked to performance conditions and vesting over three years.

Financial Director RS Nkabinde was awarded forfeitable shares valued at roughly R4.1 million ($252,888), with half of the allocation subject to performance conditions. Human Resources Director NM Mashigo received shares worth approximately R3.18 million ($196,142), also structured with 50% performance conditions attached.

Consumer Business Unit Director RAS Tayob was granted two awards totaling about R3.63 million ($223,900), both conditional and tied to performance outcomes. External Affairs Director TE Netshitenzhe received forfeitable shares worth about R3.26 million ($201,078), while Technology Director B Ngwenya was awarded two tranches totaling approximately R4.38 million ($270,160).

Commercial Operations Director TD Nel received conditional share awards worth about R2.22 million ($136,930) in total, while Vodacom Business Director V Proothveerajh received about R3.44 million ($212,186) under similar conditions. Company Secretary of Vodacom (Pty) Limited Nolianga R. Imasiku received forfeitable shares worth approximately R737,422 ($45.486).

Aligning performance-based incentives with long-term performance

All awards were granted for R152.96 ($9.43) per share and are subject to a three-year vesting period, with most allocations contingent on the fulfilment of performance conditions ranging from 50% to 100%.

Shares were acquired on-market for the incentive scheme, in line with the company’s governance framework. The awards reflect Vodacom’s continued reliance on equity-linked compensation to retain senior leadership and reinforce long-term performance alignment across its executive structure.

The disclosures underscore the scale of share-based incentives within the group and highlight how performance-linked remuneration remains a key component of executive retention and governance within one of Africa’s largest telecommunications operators.