AI Terminal
BLACKBIRD PLC
Remuneration Information • Oct 9, 2020
7521_dirs_2020-10-09_75d96472-77bf-4d09-bf44-a2b4a826bb7e.html
Remuneration Information
Open in ViewerOpens in native device viewer
National Storage Mechanism | Additional information 
RNS Number : 5693B
Blackbird PLC
09 October 2020
9 October 2020
Blackbird plc
(the "Company")
Issue of LTIP units and grant of share options
Blackbird plc (AIM: BIRD), developer and seller of market-leading cloud video platform Blackbird, announces that it has today issued units to Directors of the Company, pursuant to the Company's Long Term Incentive Plan which was approved by shareholders at the 2019 Annual General Meeting. Details of the number of units being issued to each Director are set out below.
Under the Long Term Incentive Plan, LTIP 1 and LTIP 2 units are designed to allow individuals to share in improving shareholder value above a base share price (15p and 20p for LTIP 1 and LTIP 2 respectively). The Long Term Incentive Plan is designed to reward specific individuals through cash payments for activities that drive value creation for shareholders. Each of LTIP 1 and LTIP 2 consists of 5,000 LTIP units that collectively form a pool and the value of each pool is calculated at 5% of the increase in the Company's share price above the base share price for each pool, respectively.
| Name | Title | LTIP1 units being issued | LTIP2 units being issued | LTIP1 units held post issue | LTIP2 units |
| held post issue | |||||
| Ian McDonough | Chief Executive Officer | 82.2 | 191.9 | 357.2 | 191.9 |
| Stephen Streater | R&D Director | 49.3 | 115.1 | 49.3 | 115.1 |
| Stephen White | Chief Operating and Financial Officer | 49.3 | 115.1 | 49.3 | 115.1 |
In total 221.9 LTIP1 units and 518.1 LTIP2 units are being issued to Directors and senior management. The units vest at the end of the current LTIP period which is scheduled to be 31 December 2021. Details of the Long Term Incentive Plan are set out in the investors section of the Company's website.
In addition, the following options over the Company's ordinary shares of 0.8 pence (the "Ordinary Shares") have today been granted to the non-executive directors of the Company as part of an employee-wide share option grant over 1,515,000 unissued Ordinary Shares:
| Name | Title | Number of options granted | Exercise price | Number of options held post grant | |
| Andrew Bentley | Non-Executive Chairman | 100,000 | 18.5p | 960,000 | |
| Dawn Airey | Non-Executive Director | 75,000 | 18.5p | 560,000 | |
| John Honeycutt | Non-Executive Director | 75,000 | 18.5p | 325,000 | |
| David Main | Non-Executive Director | 75,000 | 18.5p | 1,835,000 |
The options were granted under the Company's EMI share option scheme and subject to certain performance conditions.
Following the above grant of options there are a total of 12,330,000 share options over Ordinary Shares held by Directors and PDMRs of the Company, representing 3.66% of the Company's current issued share capital of 337,054,092 Ordinary Shares.
The FCA notifications in respect of the above grant of the options, made in accordance with the requirements of the EU Market Abuse Regulation, are appended below.
Contacts:
| Blackbird plc | Tel: +44 (0)20 8879 7245 |
| Ian McDonough, Chief Executive Officer | |
| Stephen White, Chief Operating and Financial Officer | |
| Allenby Capital Limited (Nominated Adviser and Broker) | Tel: +44 (0)20 3328 5656 |
| Nick Naylor / Asha Chotai (Corporate Finance) | |
| Amrit Nahal (Equity Sales) | |
About Blackbird plc
Blackbird operates in the fast-growing SaaS and cloud video market, and has created the world's most advanced suite of cloud-native computing applications for video, all underpinned by its lightning-fast codec. Blackbird's patented technology allows for frame accurate navigation, playback, viewing and editing in the cloud. Blackbird underpins multiple applications, which are used by rights holders, broadcasters, sports and news video specialists, esports, live events and content owners, post-production houses, other mass market digital video channels and corporations.
Since it is cloud-native, Blackbird removes the need for costly, high end workstations and can be used from almost anywhere on almost any device. It also allows full visibility on multi-location digital content, improves time to market for live content such as video clips and highlights for social media distribution, and ultimately results in much more effective monetisation.
Blackbird® is a registered trademark of Blackbird plc.
Websites
Social media
www.linkedin.com/company/blackbird-cloud
www.twitter.com/blackbirdcloud
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
| Andrew Bentley | Non-Executive Chairman |
| Dawn Airey | Non-Executive Director |
| John Honeycutt | Non-Executive Director |
| David Main | Non-Executive Director |
2
Reason for the notification
a)
Position/status
See above
b)
Initial notification /Amendment
Initial notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Blackbird plc
b)
LEI
2138006DWRVTIAVW3415
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 of 0.8p each
b)
Nature of the transaction
Grant of options over Ordinary Shares
c)
Price(s) and volume(s)
| Director | Volume | Exercise Price |
| Andrew Bentley | 100,000 | 18.5p |
| Dawn Airey | 75,000 | 18.5p |
| John Honeycutt | 75,000 | 18.5p |
| David Main | 75,000 | 18.5p |
d)
Aggregated information
- Aggregated volume
- Price
n/a
e)
Date of the transaction
9 October 2020
f)
Place of the transaction
Outside of a trading venue - grant of options
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.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
END
DSHEAXEPEAXEFFA