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Vodafone's chief executive Nick Read and finance director Margherita Della Valle have "voluntarily requested" that an award of shares under a long-term bonus scheme be cut by 20%.
"This was requested to reflect the low valuation of the share price following its reduction over the year," the company said.
They will get 3.9m and 2.4m shares respectively.
The share price is 131p so that's about £5m of shares for Read - although the precise value will depend on the performance of the company in the coming years and the future share price.
