Remuneration Information • Jun 30, 2020
Remuneration Information
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RNS Number : 5819R
Oxford Biomedica PLC
30 June 2020
Grant of options
London, UK - 30 June 2020: Oxford Biomedica plc ("Oxford Biomedica" or the "Company") (LSE:OXB), a leading gene and cell therapy group announces that on 26 June 2020 nil-cost share options over ordinary shares of 50 pence each in the Company were granted to the Senior Executive Team under the Oxford Biomedica 2015 Deferred Bonus Plan ("DBP") and the Oxford Biomedica 2015 Long Term Incentive Plan ("LTIP").
The grant of the share options comprises two types of award, which are: (i) the grant of the 2020 LTIP awards and; (ii) the grant of the 2020 DBP awards.
| Name of individual | Title | Number of shares subject to the 2020 DBP award | Number of shares subject to the 2020 LTIP award | Total shares over which options are held (note 1) | Percentage of issued share capital under option |
| John Dawson | Chief Executive Officer | 23,602 | 70,805 | 772,087 | 0.9% |
| Stuart Paynter | Chief Financial Officer | 13,500 | 39,375 | 196,169 | 0.2% |
| James Miskin | Chief Technical Officer | 5,497 | 27,368 | 219,082 | 0.3% |
| Kyriacos Mitrophanous | Chief Scientific Officer | 5,497 | 27,631 | 220,083 | 0.3% |
| Nick Page | Chief Operations Officer | 5,834 | 28,894 | 93,555 | 0.1% |
| Helen Stephenson-Ellis | Chief People Officer | 3,798 | 19,157 | 60,562 | 0.07% |
| Jason Slingsby | Chief Business Officer | 4,752 | 26,427 | 101.962 | 0.1% |
| Natalie Walter | General Counsel | 2,930 | 21,837 | 45,414 | 0.06% |
| Dmitry Zamoryakin | Chief Medical Officer | 2,625 | 25,375 | 28,000 | 0.03% |
Notes:
1. Includes the 2014 DBP awards to be met by market purchased shares held by the Oxford Biomedica Employee Trust
Under the terms of the 2015 DBP, the DBP awards will become exercisable as to one third of the shares subject to each award on each of the first three anniversaries of the grant date.
The 2020 LTIP awards are subject to a three year performance period and become exercisable from the third anniversary of the grant date, subject to the satisfaction of a performance condition.
The Award shall Vest by reference to an equal weight between the compounded annual growth rate of the Company's Share Price, calculated by comparing the average closing share price over the five Dealing Days immediately preceding the start of the Performance Period of 760.0p with the average share price of the Company over the three months immediately preceding the end of the Performance Period, in accordance with the TSR table below, and the compounded annual growth rate of the Company's Revenues calculated by comparing the audited Revenue figure as of 31 December 2019 preceding the start of the Performance period of £64.1m, with the audited Revenue figure as of 31 December 2022, in accordance with the Revenue table below.
TSR Table
| Compound annual growth rate of the Company's share price over the three year Performance Period | Extent to which Performance Condition is satisfied |
| Less than 10% per annum | 0% |
| 10% per annum (i.e. 33% over 3 years) | 25% |
| Between 10% per annum and 17.5% per annum | On a straight line basis between 25% and 100% |
| 17.5% per annum or above(i.e. 63% over three years) | 100% |
Revenue Table
| Compound annual growth rate of the Company's revenues over the three year Performance Period | Extent to which Performance Condition is satisfied |
| Less than 15% per annum | 0% |
| 15% per annum (i.e. 52.1% over 3 years) | 25% |
| Between 15% per annum and 24% per annum | On a straight line basis between 25% and 100% |
| 24% per annum or above (i.e. 90.7% over three years) | 100% |
There will also be a performance underpin, such that the awards would only vest to the extent that the Remuneration Committee considers that the overall performance of the business across the period justifies it. The share price at the third anniversary of the grant date will also be averaged across the three month period immediately preceding the end of the performance period to avoid rewarding for short term spikes in performance. Clawback and malus provisions will apply to the awards.
In addition, on 26 June 2020 nil-cost share options over 9,642 shares of 50 pence each in the Company were also granted to Alex Lewis, Chief of Staff, under the Oxford Biomedica 2015 Executive Share Option Scheme ("ESOS"). The 2020 ESOS award is not subject to performance conditions and will become exercisable at 760.0p from the third anniversary of the grant date. The total shares over which options are held by Alex Lewis are 64,821, representing 0.08% of the issued capital under option.
The issued share capital of the Company is 82,002,369 ordinary shares of 50 pence each.
The Notification of Dealing Forms set out below are provided in accordance with the requirements of the EU Market Abuse Regulation.
Notification of Dealing Form
1.
Details of the Person Discharging Managerial Responsibility ("PDMR")/person closely associated with them ("PCA")
a)
Name
John Dawson
2.
Reason for the notification
a)
Position/status
Chief Executive Officer
b)
Initial notification/
amendment
Initial Notification
3.
Details of the Issuer
a)
Name
Oxford Biomedica plc
b)
LEI code
213800S1GVQNXQ15K851
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
Identification code
Ordinary Shares of 50 pence each
ISIN: GB00BDFBVT43
b)
Nature of the transaction
Grant of awards over Ordinary Shares under the Company's Long Term Incentive Plan and Deferred Bonus Plan. No consideration was paid for the grant of awards.
c)
Price(s) and volumes(s)
2020 LTIP Award
| Price | Volume |
| Nil | 70,805 |
2020 DBP Award
| Price | Volume |
| Nil | 23,602 |
d)
Aggregated information
- Aggregate volume
- Price
Awards granted over 94,407 shares in total
N/A
e)
Date of the transaction
2020-06-26
f)
Place of the transaction
Outside of trading venue
1.
Details of the Person Discharging Managerial Responsibility ("PDMR")/person closely associated with them ("PCA")
a)
Name
Stuart Paynter
2.
Reason for the notification
a)
Position/status
Chief Financial Officer
b)
Initial notification/
amendment
Initial Notification
3.
Details of the Issuer
a)
Name
Oxford Biomedica plc
b)
LEI code
213800S1GVQNXQ15K851
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
Identification code
Ordinary Shares of 50 pence each
ISIN: GB00BDFBVT43
b)
Nature of the transaction
Grant of awards over Ordinary Shares under the Company's Long Term Incentive Plan and Deferred Bonus Plan. No consideration was paid for the grant of awards.
c)
Price(s) and volumes(s)
2020 LTIP Award
| Price | Volume |
| Nil | 39,375 |
2020 DBP Award
| Price | Volume |
| Nil | 13,500 |
d)
Aggregated information
- Aggregate volume
- Price
Awards granted over 52,875 shares in total
N/A
e)
Date of the transaction
2020-06-26
f)
Place of the transaction
Outside of trading venue
1.
Details of the Person Discharging Managerial Responsibility ("PDMR")/person closely associated with them ("PCA")
a)
Name
James Miskin
2.
Reason for the notification
a)
Position/status
Chief Technical Officer
b)
Initial notification/
amendment
Initial Notification
3.
Details of the Issuer
a)
Name
Oxford Biomedica plc
b)
LEI code
213800S1GVQNXQ15K851
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
Identification code
Ordinary Shares of 50 pence each
ISIN: GB00BDFBVT43
b)
Nature of the transaction
Grant of awards over Ordinary Shares under the Company's Long Term Incentive Plan and Deferred Bonus Plan. No consideration was paid for the grant of awards.
c)
Price(s) and volumes(s)
2020 LTIP Award
| Price | Volume |
| Nil | 27,368 |
2020 DBP Award
| Price | Volume |
| Nil | 5,497 |
d)
Aggregated information
- Aggregate volume
- Price
Awards granted over 32,865 shares in total
N/A
e)
Date of the transaction
2020-06-26
f)
Place of the transaction
Outside of trading venue
1.
Details of the Person Discharging Managerial Responsibility ("PDMR")/person closely associated with them ("PCA")
a)
Name
Kyriacos Mitrophanous
2.
Reason for the notification
a)
Position/status
Chief Scientific Officer
b)
Initial notification/
amendment
Initial Notification
3.
Details of the Issuer
a)
Name
Oxford Biomedica plc
b)
LEI code
213800S1GVQNXQ15K851
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
Identification code
Ordinary Shares of 50 pence each
ISIN: GB00BDFBVT43
b)
Nature of the transaction
Grant of awards over Ordinary Shares under the Company's Long Term Incentive Plan and Deferred Bonus Plan. No consideration was paid for the grant of awards.
c)
Price(s) and volumes(s)
2020 LTIP Award
| Price | Volume |
| Nil | 27,631 |
2020 DBP Award
| Price | Volume |
| Nil | 5,497 |
d)
Aggregated information
- Aggregate volume
- Price
Awards granted over 33,128 shares in total
N/A
e)
Date of the transaction
2020-06-26
f)
Place of the transaction
Outside of trading venue
1.
Details of the Person Discharging Managerial Responsibility ("PDMR")/person closely associated with them ("PCA")
a)
Name
Nick Page
2.
Reason for the notification
a)
Position/status
Chief Operations Officer
b)
Initial notification/
amendment
Initial Notification
3.
Details of the Issuer
a)
Name
Oxford Biomedica plc
b)
LEI code
213800S1GVQNXQ15K851
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
Identification code
Ordinary Shares of 50 pence each
ISIN: GB00BDFBVT43
b)
Nature of the transaction
Grant of awards over Ordinary Shares under the Company's Long Term Incentive Plan and Deferred Bonus Plan. No consideration was paid for the grant of awards.
c)
Price(s) and volumes(s)
2020 LTIP Award
| Price | Volume |
| Nil | 28,894 |
2020 DBP Award
| Price | Volume |
| Nil | 5,834 |
d)
Aggregated information
- Aggregate volume
- Price
Awards granted over 34,728 shares in total
N/A
e)
Date of the transaction
2020-06-26
f)
Place of the transaction
Outside of trading venue
1.
Details of the Person Discharging Managerial Responsibility ("PDMR")/person closely associated with them ("PCA")
a)
Name
Helen Stephenson-Ellis
2.
Reason for the notification
a)
Position/status
Chief People Officer
b)
Initial notification/
amendment
Initial Notification
3.
Details of the Issuer
a)
Name
Oxford Biomedica plc
b)
LEI code
213800S1GVQNXQ15K851
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
Identification code
Ordinary Shares of 50 pence each
ISIN: GB00BDFBVT43
b)
Nature of the transaction
Grant of awards over Ordinary Shares under the Company's Long Term Incentive Plan and Deferred Bonus Plan. No consideration was paid for the grant of awards.
c)
Price(s) and volumes(s)
2020 LTIP Award
| Price | Volume |
| Nil | 19,157 |
2020 DBP Award
| Price | Volume |
| Nil | 3,798 |
d)
Aggregated information
- Aggregate volume
- Price
Awards granted over 22,955 shares in total
N/A
e)
Date of the transaction
2020-06-26
f)
Place of the transaction
Outside of trading venue
1.
Details of the Person Discharging Managerial Responsibility ("PDMR")/person closely associated with them ("PCA")
a)
Name
Jason Slingsby
2.
Reason for the notification
a)
Position/status
Chief Business Officer
b)
Initial notification/
amendment
Initial Notification
3.
Details of the Issuer
a)
Name
Oxford Biomedica plc
b)
LEI code
213800S1GVQNXQ15K851
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
Identification code
Ordinary Shares of 50 pence each
ISIN: GB00BDFBVT43
b)
Nature of the transaction
Grant of awards over Ordinary Shares under the Company's Long Term Incentive Plan and Deferred Bonus Plan. No consideration was paid for the grant of awards.
c)
Price(s) and volumes(s)
2020 LTIP Award
| Price | Volume |
| Nil | 26,427 |
2020 DBP Award
| Price | Volume |
| Nil | 4,752 |
d)
Aggregated information
- Aggregate volume
- Price
Awards granted over 31,179 shares in total
N/A
e)
Date of the transaction
2020-06-26
f)
Place of the transaction
Outside of trading venue
1.
Details of the Person Discharging Managerial Responsibility ("PDMR")/person closely associated with them ("PCA")
a)
Name
Natalie Walter
2.
Reason for the notification
a)
Position/status
General Counsel
b)
Initial notification/
amendment
Initial Notification
3.
Details of the Issuer
a)
Name
Oxford Biomedica plc
b)
LEI code
213800S1GVQNXQ15K851
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
Identification code
Ordinary Shares of 50 pence each
ISIN: GB00BDFBVT43
b)
Nature of the transaction
Grant of awards over Ordinary Shares under the Company's Long Term Incentive Plan and Deferred Bonus Plan. No consideration was paid for the grant of awards.
c)
Price(s) and volumes(s)
2020 LTIP Award
| Price | Volume |
| Nil | 21,837 |
2020 DBP Award
| Price | Volume |
| Nil | 2,930 |
d)
Aggregated information
- Aggregate volume
- Price
Awards granted over 24,767 shares in total
N/A
e)
Date of the transaction
2020-06-26
f)
Place of the transaction
Outside of trading venue
1.
Details of the Person Discharging Managerial Responsibility ("PDMR")/person closely associated with them ("PCA")
a)
Name
Dmitry Zamoryakin
2.
Reason for the notification
a)
Position/status
Chief Medical Officer
b)
Initial notification/
amendment
Initial Notification
3.
Details of the Issuer
a)
Name
Oxford Biomedica plc
b)
LEI code
213800S1GVQNXQ15K851
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
Identification code
Ordinary Shares of 50 pence each
ISIN: GB00BDFBVT43
b)
Nature of the transaction
Grant of awards over Ordinary Shares under the Company's Long Term Incentive Plan and Deferred Bonus Plan. No consideration was paid for the grant of awards.
c)
Price(s) and volumes(s)
2020 LTIP Award
| Price | Volume |
| Nil | 25,375 |
2020 DBP Award
| Price | Volume |
| Nil | 2,625 |
d)
Aggregated information
- Aggregate volume
- Price
Awards granted over 28,000 shares in total
N/A
e)
Date of the transaction
2020-06-26
f)
Place of the transaction
Outside of trading venue
1.
Details of the Person Discharging Managerial Responsibility ("PDMR")/person closely associated with them ("PCA")
a)
Name
Alex Lewis
2.
Reason for the notification
a)
Position/status
Chief of Staff
b)
Initial notification/
amendment
Initial Notification
3.
Details of the Issuer
a)
Name
Oxford Biomedica plc
b)
LEI code
213800S1GVQNXQ15K851
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
Identification code
Ordinary Shares of 50 pence each
ISIN: GB00BDFBVT43
b)
Nature of the transaction
Grant of award over Ordinary Shares under the Company's Executive Share Option Scheme. No consideration was paid for the grant of awards.
c)
Price(s) and volumes(s)
2020 ESOS Award
| Price | Volume |
| Nil | 9,642 |
d)
Aggregated information
- Aggregate volume
- Price
Award granted over 9,642 shares
N/A
e)
Date of the transaction
2020-06-26
f)
Place of the transaction
Outside of trading venue
-Ends-
| For further information, please contact: | |
| Oxford Biomedica plc: Natalie Walter, Company Secretary |
Tel: +44 (0)1865 783 000 |
About Oxford Biomedica
Oxford Biomedica (LSE:OXB) is a leading, fully integrated, gene and cell therapy group focused on developing life changing treatments for serious diseases. Oxford Biomedica and its subsidiaries (the "Group") have built a sector leading lentiviral vector delivery platform (LentiVector®), which the Group leverages to develop in vivo and ex vivo products both in-house and with partners. The Group has created a valuable proprietary portfolio of gene and cell therapy product candidates in the areas of oncology, ophthalmology, CNS disorders, liver diseases and respiratory disease. The Group has also entered into a number of partnerships, including with Novartis, Bristol Myers Squibb, Sanofi, Axovant Gene Therapies, Orchard Therapeutics, Santen, Boehringer Ingelheim, the UK Cystic Fibrosis Gene Therapy Consortium and Imperial Innovations, through which it has long-term economic interests in other potential gene and cell therapy products. Additionally the group has signed a Clinical and Commercial Supply Agreement with AstraZeneca for manufacture of the adeno based COVID-19 vaccine candidate, AZN1222. Oxford Biomedica is based across several locations in Oxfordshire, UK and employs more than 550 people. Further information is available at www.oxb.com
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
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