Clio Pialorsi

Associate, Macfarlanes

Clio advises both listed and unlisted clients on the design, implementation and operation of equity-based incentive plans.

She has extensive experience advising listed companies on multi-jurisdictional incentive plan issues and large-scale incentive arrangements, including UK tax-advantaged plans. Having spent time on secondment within the reward and mobility tax teams of a large global bank, she has a deep understanding of the financial services sector.

With a focus on tax compliance, Clio also advises on the impact of M&A transactions on share schemes and specialises in accounting valuations for share-based payments.

Clio is a Chartered Tax Adviser and a member of the Chartered Institute of Taxation (CIOT). She is trained in mental health advocacy in the workplace and volunteers at suicide-prevention charity The Listening Place.

Contributed to

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Malus and clawback

Practice Notes

This Practice Note introduces the concepts of malus and clawback provisions and details the practical considerations companies need to consider when using malus and clawback provisions in share option, share award and bonus documentation. The concept of withholding or recovering value from executives if a material adverse event occurs following the award of performance-related pay has become increasingly common in recent years. This Practice Note is written in conjunction with Nick Hipwell of DLA Piper UK LLP, Sarah Ferguson of Bird and Bird, and Rasmus Berglund and Clio Pialorsi of Macfarlanes LLP.

Share Incentives