The share price-focused plan will pay out on 17 June 2023 if the group’s market capitalisation rises by 66% to £7.55bn.
Co-founders Mahmud Kamani and Carol Kane will have a 33.33% involvement in the plan. Chief financial officer Neil Catto has a 6.67% involvement.
BoohooMan CEO Samir Kamani has been allocated a 16.67% share, and will take on a wider role in the group in the future.
The remaining 10% will be allocated across the wider management team. No individual will receive more than 3%.
Those involved in the plan be allocated B shares in the group’s intermediary holding company and be paid either in shares or cash.
The group said: ”The single share price growth measure is well aligned to the group’s strategy of delivering substantial and sustained returns to shareholders by the ongoing successful execution of the group’s vision to lead the fashion ecommerce market globally through its scalable multi-brand platform.”