Monash IVF Group (ASX:MVF) decided to withhold short-term incentive (STI) payments to all executive key management personnel for fiscal 2025, due to weaker market demand, incorrect embryo transfers, and a class action settlement, according to a Monday filing with the Australian bourse.
A deferred 20% portion of the former Chief Executive Officer Michael Knaap's STI for fiscal 2024 was also forfeited due to his resignation, the filing said.
Shares of the company rose 1% in recent Monday trade.
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