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FILTRONIC PLC
Remuneration Information • Dec 1, 2023
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Remuneration Information
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National Storage Mechanism | Additional information 
RNS Number : 4596V
Filtronic PLC
01 December 2023
1 December 2023
Filtronic plc
("Company")
Grant of Options
Filtronic plc (AIM: FTC), the designer and manufacturer of products for the aerospace, defence, telecoms infrastructure, space and critical communications markets, announces that on 30 November 2023, the Board, following the recommendation from the Remuneration Committee, granted new share options ("the Options") to the following director under the existing Filtronic plc Employee Share Option Plan 2020 ("the ESOP").
The vesting of these options is based on achieving certain performance criteria in the three years prior to vesting. The performance criteria under the ESOP are based on share price growth and adjusted earnings before interest, taxation, depreciation, amortisation and exceptional items ("adjusted EBITDA"), in the three-year vesting period. The exercise price for the Options is 17.25 pence per share being the Company's closing mid-market share price on 29 November 2023. The Options lapse on the tenth anniversary of the date of grant and no option can be exercised before the third anniversary of the date of grant.
| Director/PDMR | Options prior to Grant | Options granted | Resultant ESOP holdings |
| Michael Tyerman Chief Financial Officer |
779,988 | 1,370,012 | 2,150,000 |
The Remuneration Committee keeps the ESOP scheme under regular review with the timing of grant award varying dependent on previous issue of share options to directors and employees.
Enquiries:
| Filtronic plc | Tel. 01740 618800 or [email protected] |
| Richard Gibbs (Chief Executive Officer) | |
| Michael Tyerman (Chief Financial Officer) | |
| Cavendish Capital Markets Limited | Tel. 020 7220 0500 |
| Jonny Franklin-Adams/George Dollemore (Corporate Finance) | |
| Sunila de Silva (ECM) | |
| Walbrook PR Limited | Tel. 020 7933 8780 or [email protected] |
| Paul Vann | Mob. 07768 807 631 |
Further details of the PDMR dealing are included below. This information has been provided in accordance with Article 5(1)(b) of the Market Abuse Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018.
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 1,370,012 options under the Filtronic plc Employee Share Option Plan 2020
c)
Price(s) and volume(s)
| Price(s) | Volume(s) |
| 17.25 pence | 1,370,012 |
d)
Aggregated information:
· Aggregated volume
· Price
n/a (single transaction)
e)
Date of the transaction
30 November 2023
f)
Place of the transaction
London Stock Exchange, AIM Market
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