Remuneration Information • Feb 2, 2018
Remuneration Information
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RNS Number : 7816D
Silence Therapeutics PLC
02 February 2018
Grant of share options and restricted stock units
2nd February 2018
Silence Therapeutics plc, AIM:SLN ("Silence" or "the Company") a leader in the discovery, delivery, and development of novel RNA therapeutics for the treatment of serious diseases with unmet medical need, announces that it has granted nominal cost share options ("Options") to certain of its executive directors to acquire a total of 169,921 ordinary shares of 5.0p each in the capital of the Company ("Ordinary Shares") under the Silence Therapeutics plc 2018 Long Term Incentive Plan. The Company has also made a grant of nominal cost restricted stock units ('RSUs') to the Non-Executive Directors under the Silence Therapeutics plc 2018 Non-Employee Long Term Incentive Plan. These two new plans were approved by the Board of Directors on 2nd February 2018. Details of both grants are summarised below
Grant of Share Options:
| Director | Position | Options Awarded | Total Options Held |
| Ali Mortazavi | CEO | 88,620 | 4,058,920 |
| David Ellam | CFO | 81,301 | 593,676 |
These nominal cost options will vest in full on 1st February 2021. The Options are subject to achievement of certain performance conditions within the three years from grant, based on 34% vesting for a share price of £2.70, a further 33% vesting for a share price of £3.00, and the final 33% for a share price of £3.40. The share price must be maintained for a period of 30 continuous days. The Options are exercisable over the period of 7 years from the date of vesting. Claw-back and malus provisions apply. There is a one-year holding period.
Nominal cost options over 458,766 Ordinary Shares were granted to other employees of the Company. These options have a hurdle price of 198.0 pence per share. They will vest in full on 1st February 2021 subject to the average closing price of the prior 30 continuous days being above 198.0 pence per share.
Award of Restricted Stock Units
| Director | Position | Options Awarded | Total Options Held |
| Annalisa Jenkins | Non-Executive Chair | 1,626 | 1,626 |
| Alistair Gray | Non-Executive Director | 1,626 | 1,626 |
| Stephen Parker | Non-Executive Director | 1,626 | 1,626 |
| Andy Richards | Non-Executive Director | 1,626 | 1,626 |
Each RSU entitles the holder to subscribe for an Ordinary Share at a subscription price of 5 pence per Ordinary Share. The RSUs have a vesting period of one year and no performance conditions. The RSUs granted will vest on 1st February 2019.
The notifications set out below are provided in accordance with the requirements of the EU Market Abuse Regulation.
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |
| a) | Name | Ali Mortazavi |
| 2 | Reason for the notification | |
| a) | Position/status | Chief Executive Officer |
| b) | Initial notification/Amendment | Initial notification |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
| a) | Name | Silence Therapeutics Plc |
| b) | LEI | 213800SSURRJBX85SQ91 |
| 4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |
| a) | Description of the financial instrument, type of instrument Identification code |
Options over Ordinary Shares ISIN for Silence Therapeutics plc Ordinary Shares GB00B9GTXM62 |
| b) | Nature of the transaction | Grant of Options under the Silence Therapeutics Plc 2018 Long Term Incentive Plan |
| c) | Price(s) and volume(s) | Price(s) Volume(s) 5 pence 88,620 |
| d) | Aggregated information - Aggregated volume - Price |
88,620 Options 5 pence |
| e) | Date of the transaction | 2 February, 2018 |
| f) | Place of the transaction | Outside a trading venue |
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |
| a) | Name | David Ellam |
| 2 | Reason for the notification | |
| a) | Position/status | Chief Financial Officer |
| b) | Initial notification/Amendment | Initial notification |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
| a) | Name | Silence Therapeutics plc |
| b) | LEI | 213800SSURRJBX85SQ91 |
| 4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |
| a) | Description of the financial instrument, type of instrument Identification code |
Options over Ordinary Shares ISIN for Silence Therapeutics plc Ordinary Shares GB00B9GTXM62 |
| b) | Nature of the transaction | Grant of Options under the Silence Therapeutics Plc 2018 Long Term Incentive Plan |
| c) | Price(s) and volume(s) | Price(s) Volume(s) 5 pence 81,301 |
| d) | Aggregated information - Aggregated volume - Price |
81,301 Options 5 pence |
| e) | Date of the transaction | 2 February 2018 |
| f) | Place of the transaction | Outside a trading venue |
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) | Name | Annalisa Jenkins | |
| 2 | Reason for the notification | ||
| a) | Position/status | Non-Executive Chair | |
| b) | Initial notification/Amendment | Initial notification | |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| a) | Name | Silence Therapeutics Plc | |
| b) | LEI | 213800SSURRJBX85SQ91 | |
| 4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
| a) | Description of the financial instrument, type of instrument Identification code |
Ordinary shares of 5 pence each ISIN for Silence Therapeutics plc Ordinary Shares GB00B9GTXM62 |
|
| b) | Nature of the transaction | Grant of restricted stock units under the Silence Therapeutics plc 2018 Non-employee Long Term Incentive Plan | |
| c) | Price(s) and volume(s) | Price(s) Volume(s) 5 pence 1,626 |
|
| d) | Aggregated information - Aggregated volume - Price |
1,626 restricted stock units 5 pence |
|
| e) | Date of the transaction | 2 February, 2018 | |
| f) | Place of the transaction | Outside a trading venue | |
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) | Name | Alistair Gray | |
| 2 | Reason for the notification | ||
| a) | Position/status | Non-Executive Director | |
| b) | Initial notification/Amendment | Initial notification | |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| a) | Name | Silence Therapeutics Plc | |
| b) | LEI | 213800SSURRJBX85SQ91 | |
| 4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
| a) | Description of the financial instrument, type of instrument Identification code |
Ordinary shares of 5 pence each ISIN for Silence Therapeutics plc Ordinary Shares GB00B9GTXM62 |
|
| b) | Nature of the transaction | Grant of restricted stock units under the Silence Therapeutics plc 2018 Non-employee Long Term Incentive Plan | |
| c) | Price(s) and volume(s) | Price(s) Volume(s) 5 pence 1,626 |
|
| d) | Aggregated information - Aggregated volume - Price |
1,626 restricted stock units 5 pence |
|
| e) | Date of the transaction | 2 February, 2018 | |
| f) | Place of the transaction | Outside a trading venue | |
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) | Name | Stephen Parker | |
| 2 | Reason for the notification | ||
| a) | Position/status | Non-Executive Director | |
| b) | Initial notification/Amendment | Initial notification | |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| a) | Name | Silence Therapeutics Plc | |
| b) | LEI | 213800SSURRJBX85SQ91 | |
| 4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
| a) | Description of the financial instrument, type of instrument Identification code |
Ordinary shares of 5 pence each ISIN for Silence Therapeutics plc Ordinary Shares GB00B9GTXM62 |
|
| b) | Nature of the transaction | Grant of restricted stock units under the Silence Therapeutics plc 2018 Non-employee Long Term Incentive Plan | |
| c) | Price(s) and volume(s) | Price(s) Volume(s) 5 pence 1,626 |
|
| d) | Aggregated information - Aggregated volume - Price |
1,626 restricted stock units 5 pence |
|
| e) | Date of the transaction | 2 February, 2018 | |
| f) | Place of the transaction | Outside a trading venue | |
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) | Name | Andy Richards | |
| 2 | Reason for the notification | ||
| a) | Position/status | Non-Executive Director | |
| b) | Initial notification/Amendment | Initial notification | |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| a) | Name | Silence Therapeutics Plc | |
| b) | LEI | 213800SSURRJBX85SQ91 | |
| 4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
| a) | Description of the financial instrument, type of instrument Identification code |
Ordinary shares of 5 pence each ISIN for Silence Therapeutics plc Ordinary Shares GB00B9GTXM62 |
|
| b) | Nature of the transaction | Grant of restricted stock units under the Silence Therapeutics plc 2018 Non-employee Long Term Incentive Plan | |
| c) | Price(s) and volume(s) | Price(s) Volume(s) 5 pence 1,626 |
|
| d) | Aggregated information - Aggregated volume - Price |
1,626 restricted stock units 5 pence |
|
| e) | Date of the transaction | 2 February, 2018 | |
| f) | Place of the transaction | Outside a trading venue | |
Enquiries:
| Silence Therapeutics plc Ali Mortazavi, Chief Executive Officer David Ellam, Chief Financial Officer |
Tel: +44 (0)20 3457 6900 |
| Peel Hunt LLP (Nominated Adviser and Broker) James Steel/Oliver Jackson |
Tel: +44 (0)20 7418 8900 |
| Media Enquiries: Optimum Strategic Communications Mary Clark/ Eva Haas/Hollie Vile [email protected] |
Tel: +44 (0) 20 3714 1788 |
Notes to Editors
About Silence Therapeutics plc
Silence Therapeutics develops a new generation of medicines by harnessing the body's natural mechanism of RNA interference, or RNAi, within its cells. Our proprietary technology can selectively inhibit any gene in the genome, specifically silencing the production of disease-causing proteins. Using our enabling delivery systems, we have achieved an additional level of specificity by delivering our therapeutic RNA molecules exclusively to target cells. Silence's proprietary RNA chemistries and delivery systems are designed to improve the stability of our molecules and enhance effective delivery to target cells, providing a powerful modular technology well suited to tackle life-threatening diseases.
This information is provided by RNS
The company news service from the London Stock Exchange
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