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K3 BUSINESS TECHNOLOGY GROUP PLC
Remuneration Information • Jun 18, 2021
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Remuneration Information
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National Storage Mechanism | Additional information 
RNS Number : 4499C
K3 Business Technology Group PLC
18 June 2021
18 June 2021
AIM: KBT
K3 Business Technology Group plc
("K3", "Company" or "Group")
Market Price Share Option Scheme
K3, which provides mission‐critical business software and cloud solutions, announces that its Remuneration Committee ("RemCo") has today granted 160,000 new options to certain Persons Discharging Managerial Responsibilities ("PDMRs") ("Share Options"). These grants have been made under the terms of the K3 Long Term Incentive Plan 2020 adopted on 12 November 2020 (the "LTIP") and together amount to approximately 0.36% of the Company's current non-diluted issued share capital. All of the Share Options are exercisable at a price of 204p per share, being the closing mid-market price of K3 ordinary shares on the business day immediately before the grant date.
The Share Options awarded to PDMRs of the Group are as follows:
| Name | Position | Options awarded |
| Robert Price | Chief Financial Officer | 40,000 |
| Sjoerd Starren | MD, Global Accounts | 40,000 |
| Andrew Payne | Chief Technology Officer | 40,000 |
| Chrissie Humphrey | HR Director | 40,000 |
Vesting of the Share Options is based on the achievement of certain prescribed levels of incremental annual recurring revenue in respect of the Group's K3|imagine product suite between 1 December 2020 (being the start of the current financial year of the Company) and 30 November 2024. The Share Options will vest proportionately as between 25% and 100% of the award, with no vesting permitted unless the lowest threshold (corresponding to 25% vesting) is achieved.
Subject to meeting the above performance targets, the Share Options may be exercised following vesting and until the seventh anniversary of the original date of grant, at which point they will lapse.
In addition, at the same time as the award of the Share Options, the Company has amended the terms of the 300,000 LTIP share options granted to the Group's Chairman, Tom Crawford, on 12 November 2020 to align the periods for measurement of the performance condition and vesting with the options granted to the Group's CEO on 30 March 2021.
Further details in respect of the awards are provided below, in accordance with the EU Market Abuse Regulation (No 596/2014).
For further information contact:
| K3 Business Technology Group plc | +44 (0) 161 876 4498 | |
| Marco Vergani, CEO | ||
| Rob Price, CFO | ||
| finnCap Ltd | +44 (0) 207 220 0500 | |
| Nominated Adviser and Broker | ||
| Julian Blunt/James Thompson (Corporate finance) | ||
| Richard Chambers (Corporate Broking) | ||
| KTZ Communications | +44 (0) 20 3178 6378 | |
| Katie Tzouliadis/Dan Mahoney |
| 1. | Details of Persons Discharging Managerial Responsibilities "PDMR" / person closely associated with them ('PCA') | |
| a) | Name | Robert Price |
| 2. | Reason for notification | |
| b) | Position / status | Chief Financial Officer |
| c) | Initial notification / amendment | Initial Notification |
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
| b) | Name | K3 Business Technology Group plc |
| c) | LEI | 213800QOJ9OF2AV81748 |
| 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 Identification code |
Options over ordinary shares of 25p each GB00B00P6061 |
| b) | Nature of the transaction | Award of Options under the K3 LTIP |
| c) | Price(s) and volume(s) | 40,000 Options awarded |
| d) | Aggregated information Aggregated volume Price |
n/a |
| e) | Date of the transaction | 18 June 2021 |
| f) | Place of the transaction | Outside a trading venue |
| 1. | Details of Persons Discharging Managerial Responsibilities "PDMR" / person closely associated with them ('PCA') | |
| a) | Name | Sjoerd Starren |
| 2. | Reason for notification | |
| b) | Position / status | MD - Global Accounts |
| c) | Initial notification / amendment | Initial Notification |
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
| b) | Name | K3 Business Technology Group plc |
| c) | LEI | 213800QOJ9OF2AV81748 |
| 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 Identification code |
Options over ordinary shares of 25p each GB00B00P6061 |
| b) | Nature of the transaction | Award of Options under the K3 LTIP |
| c) | Price(s) and volume(s) | 40,000 Options awarded |
| d) | Aggregated information Aggregated volume Price |
n/a |
| e) | Date of the transaction | 18 June 2021 |
| f) | Place of the transaction | Outside a trading venue |
| 1. | Details of Persons Discharging Managerial Responsibilities "PDMR" / person closely associated with them ('PCA') | |
| a) | Name | Andrew Payne |
| 2. | Reason for notification | |
| b) | Position / status | Chief Technology Officer |
| c) | Initial notification / amendment | Initial Notification |
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
| b) | Name | K3 Business Technology Group plc |
| c) | LEI | 213800QOJ9OF2AV81748 |
| 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 Identification code |
Options over ordinary shares of 25p each GB00B00P6061 |
| b) | Nature of the transaction | Award of Options under the K3 LTIP |
| c) | Price(s) and volume(s) | 40,000 Options awarded |
| d) | Aggregated information Aggregated volume Price |
n/a |
| e) | Date of the transaction | 18 June 2021 |
| f) | Place of the transaction | Outside a trading venue |
| 1. | Details of Persons Discharging Managerial Responsibilities "PDMR" / person closely associated with them ('PCA') | |
| a) | Name | Chrissie Humphrey |
| 2. | Reason for notification | |
| b) | Position / status | HR Director |
| c) | Initial notification / amendment | Initial Notification |
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
| b) | Name | K3 Business Technology Group plc |
| c) | LEI | 213800QOJ9OF2AV81748 |
| 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 Identification code |
Options over ordinary shares of 25p each GB00B00P6061 |
| b) | Nature of the transaction | Award of Options under the K3 LTIP |
| c) | Price(s) and volume(s) | 40,000 Options awarded |
| d) | Aggregated information Aggregated volume Price |
n/a |
| e) | Date of the transaction | 18 June 2021 |
| f) | Place of the transaction | Outside a trading venue |
| 1. | Details of Persons Discharging Managerial Responsibilities "PDMR" / person closely associated with them ('PCA') | |
| a) | Name | Tom Crawford |
| 2. | Reason for notification | |
| b) | Position / status | Chairman |
| c) | Initial notification / amendment | Initial Notification |
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
| b) | Name | K3 Business Technology Group plc |
| c) | LEI | 213800QOJ9OF2AV81748 |
| 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 Identification code |
Options over ordinary shares of 25p each GB00B00P6061 |
| b) | Nature of the transaction | Amendment to Option Terms under the K3 LTIP |
| c) | Price(s) and volume(s) | n/a |
| d) | Aggregated information Aggregated volume Price |
n/a |
| e) | Date of the transaction | 18 June 2021 |
| f) | Place of the transaction | Outside a trading venue |
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