AI Terminal
FILTRONIC PLC
Remuneration Information • Jun 24, 2021
7640_rns_2021-06-24_37777609-4a50-4a4d-a8a5-4f88eb658456.html
Remuneration Information
Open in ViewerOpens in native device viewer
National Storage Mechanism | Additional information 
RNS Number : 0357D
Filtronic PLC
24 June 2021
24 June 2021
Filtronic plc
("the Company")
Grant of Options
Filtronic plc (AIM: FTC), the designer and manufacturer of products for the critical communications, wireless telecom and aerospace & defence markets, announces that on 24 June 2021, it granted new share options ("the Options") to the following directors under the existing Filtronic plc Employee Share Option Plan 2020 ("the ESOP") on the recommendation of the Remuneration Committee. The options grant is designed to align the interests of the Executive Directors and key members of the management team with the interests of shareholders. As such the vesting of these options is based on achieving certain performance criteria for the three years prior to vesting. The performance criteria under the ESOP are based entirely on revenue growth in the three-year vesting period.
The exercise price for the Options is 11.125 pence per share being the Company's closing mid-market share price on 23 June 2021. The 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.
In addition to the above, both Executive Directors have elected to participate in the Filtronic plc all Employee Sharesave Scheme (SAYE) where, subject to them making monthly contributions to the Scheme and other conditions, they will each have the option after 1 June 2024 of acquiring a maximum of 58,290 shares each, at an option price of 6.67 per share.
| Director/PDMR | Scheme | Options prior to Grant | Options granted | Resultant Option holdings |
| Richard Gibbs Chief Executive Officer |
ESOP | 750,000 | 245,448 | 995,448 |
| Michael Tyerman Chief Financial Officer |
ESOP | 300,000* | 479,988 | 779,988 |
| Richard Gibbs Chief Executive Officer |
SAYE | 0 | 35,622 | 35,622 |
| Michael Tyerman Chief Financial Officer |
SAYE | 0 | 58,290 | 58,290 |
*These options were granted under the Filtronic plc Employee Share Option Plan 2008.
Enquiries:
| Filtronic plc | Tel. 0113 220 0000 or [email protected] |
| Richard Gibbs (Chief Executive Officer) | |
| Michael Tyerman (Chief Financial Officer) | |
| Maura Moynihan (Company Secretary) | |
| finnCap Limited | Tel. 020 7220 0500 |
| Jonny Franklin-Adams/Tim Harper (Corporate Finance) | |
| Alice Lane / Sunila de Silva (ECM) | |
| Walbrook PR Limited | Tel. 020 7933 8780 or [email protected] |
| Paul Vann | Mob. 07768 807 631 |
Notes:
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014.PDMR Notification Form:
The notifications below are made in accordance with the requirements of UK MAR:
1.
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Richard Gibbs
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
Filtronic plc
b)
LEI
213800PDQ9V2ZNCDO264
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
Ordinary shares of 0.1p each
Identification code
GB0003362992
b)
Nature of the transaction
Grant of 245,448 options under the Filtronic plc Employee Share Option Plan 2020
c)
Price(s) and volume(s)
| Price(s) | Volume(s) |
| 11.125 pence | 245,448 |
d)
Aggregated information:
· Aggregated volume
· Price
n/a (single transaction)
e)
Date of the transaction
24 June 2021
f)
Place of the transaction
London Stock Exchange, AIM Market
PDMR Notification Form:
The notifications below are made in accordance with the requirements of UK MAR:
1.
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Michael Tyerman
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
Filtronic plc
b)
LEI
213800PDQ9V2ZNCDO264
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
Ordinary shares of 0.1p each
Identification code
GB0003362992
b)
Nature of the transaction
Grant of 479,988 options under the Filtronic plc Employee Share Option Plan 2020
c)
Price(s) and volume(s)
| Price(s) | Volume(s) |
| 11.125 pence | 479,988 |
d)
Aggregated information:
· Aggregated volume
· Price
n/a (single transaction)
e)
Date of the transaction
24 June 2021
f)
Place of the transaction
London Stock Exchange, AIM Market
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
MSCEAFKLADFFEFA