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FILTRONIC PLC
Remuneration Information • Sep 25, 2020
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Remuneration Information
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National Storage Mechanism | Additional information 
RNS Number : 1482A
Filtronic PLC
25 September 2020
25 September 2020
Filtronic plc
(the "Company" or "Filtronic")
Adoption of share option plan and Grant of Options
Filtronic plc (AIM: FTC), the designer and manufacturer of products for the critical communications, wireless telecoms and defence & aerospace markets, announces the adoption of the Filtronic plc Employee Share Option Plan 2020 ("the Plan") and the grant of share options to Richard Gibbs, CEO of the Company.
The Plan (an updated version of Filtronic plc Employee Share Option Plan 2010 which expires in November 2020) will be used to recruit, retain and incentivise Directors and certain other employees of the Company and its subsidiaries and help align their interests with those of shareholders. The number of options that may be awarded under the Plan is limited to a maximum number representing 6 per cent of the Company's issued ordinary share capital. Additionally, options may be issued as tax efficient Enterprise Management Incentives ("EMI") where appropriate.
Grant of options to Filtronic CEO
Following the recommendation of the Remuneration Committee, Filtronic has granted options over 750,000 ordinary shares of 0.1 pence each in the Company (the "CEO Options") to Richard Gibbs, who was appointed as Chief Executive Officer of Filtronic plc on 1 September 2020.
The exercise price for the CEO Options is 8.0 pence per share, being the Company's closing mid-market share price on 23 September 2020. The CEO Options lapse on the tenth anniversary of the date of grant and no option can vest before the third anniversary of the date of grant.
Notification and public disclosure of transaction by persons discharging managerial responsibilities and persons closely associated with them.
| 1. | Details of PDMR / Person Closely Associated with them ('PCA') | ||
| a) | Name | Richard Gibbs | |
| 2. | Reason for Notification | ||
| a) | Position / status | Chief Executive Officer | |
| b) | Initial notification / amendment | Initial Notification | |
| 3. | Details of the Issuer | ||
| a) | Name | Filtronic plc | |
| 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 | Options over new ordinary shares of 0.1p ("Ordinary Shares") | |
| LEI Code | 213800PDQ9V2ZNCDO264 | ||
| b) | Nature of the transaction | Grant of options over new ordinary shares | |
| c) | Price(s) and volume(s) | Exercise Price(s) | Volume(s) |
| 8.0 pence | 750,000 | ||
| d) | Aggregated information -Aggregated volume -Price |
N/A | |
| e) | Date of the transaction | 24 September 2020 | |
| f) | Place of the transaction | Outside a trading venue |
Enquiries:
| Filtronic plc Reg Gott (Chairman) Michael Tyerman (Chief Financial Officer) Maura Moynihan (Company Secretary) |
Tel. 0113 220 0000 or [email protected] |
| finnCap Limited | Tel. 020 7220 0500 |
| Jonny Franklin-Adams / Kate Washington (Corporate Finance) Alice Lane / Sunila de Silva (ECM) |
|
| Walbrook PR Limited Paul Vann/Nick Rome |
Tel. 020 7933 8780 or [email protected] Mob. 07768 807631 |
Notes:
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014.
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