Reece (ASX:REH) finalized a new remuneration framework for its chair and chief executive, and group president and managing director to align leadership incentives with the company's 2030 strategy, according to a Monday filing with the Australian bourse.

The new remuneration framework includes the removal of a short-term incentive and service rights and a new multi-year long-term incentive grant in fiscal year 2026, the filing said.

Shares fell 3% in morning trade on Monday.