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FILTRONIC PLC
Director's Dealing • May 28, 2024
7640_dirs_2024-05-28_440b6108-1acb-44c0-b90e-7078b3262310.html
Director's Dealing
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National Storage Mechanism | Additional information 
RNS Number : 0967Q
Filtronic PLC
28 May 2024
28 May 2024
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 24 May 2024, 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 Options were a key component of the offer package to attract Mr Edington to join the Company.
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 Options will fully vest if the share price grows by 2.25 times the share price on the date immediately prior to grant which was 55.12p and will start vesting if the share price has grown by over 1.5 times at the vesting date. The exercise price for the Options is 17.25 pence per share being the same exercise price as the options granted to the scheme participants on 30 November 2023. The Options lapse on the tenth anniversary of the date of grant and no option can be exercised before the third year of the date of grant.
| Director/PDMR | Options prior to Grant | Options granted | Resultant ESOP holdings |
| Nat Edington Chief Executive Officer |
0 | 4,333,333 | 4,333,333 |
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] |
| Nat Edington (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] |
| Nick Rome | 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
Nat Edington
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 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 | 4,333,333 |
d)
Aggregated information:
· Aggregated volume
· Price
n/a (single transaction)
e)
Date of the transaction
24 May 2024
f)
Place of the transaction
London Stock Exchange, AIM Market
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