MTN has given 13 of its directors share options over 2.44 million shares, at R71 a share, it said on Friday.
Group president and CEO Phuthuma Nhleko was granted rights over just more than half-a-million shares, making his share option worth R36 million.
Not all of the allocation vests immediately; the first tranche of 20% vests next year and the final 30% vests towards the end of November 2011.
Group COO Sifiso Dabengwa was awarded rights over 43 400 shares, while group CFO Rob Nisbet was awarded rights over 197 400 shares.
Group HR executive Paul Norman, who in October made a profit of R5.868 million on share sales, was granted an option over another 72 100 shares.
MTN's shares were trading at R73.75 just after 10.30am this morning, having closed at R73.50 on Friday.
Related stories:
MTN share returns to 'sane' levels
MTN exec scores with share sale
Share