Oxford Biomedica PLC

Remuneration Information • Apr 23, 2019

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RNS Number : 8313W

Oxford Biomedica PLC

23 April 2019

Deferred Bonus Plan and Long Term Incentive Plan Option Grants

London, UK - 23 April 2019: Oxford Biomedica plc ("Oxford Biomedica" or the "Company") (LSE:OXB), a leading gene and cell therapy Group announces that on 18 April 2019 nil-cost share options over shares of 50 pence each in the Company were granted to the Senior Executive Team under the Oxford Biomedica 2015 Deferred Bonus Plan ("DBP") and the Oxford Biomedica 2015 Long Term Incentive Plan ("LTIP").

The grant of the share options comprises two types of award, which are: (i) the grant of the 2019 LTIP awards and; (ii) the grant of the 2019 DBP awards. 

Name of individual	Title	Number of shares subject to the 2019 DBP award	Number of shares subject to the 2019 LTIP award	Total shares over which options are held (note 1)	Percentage of issued share capital under option
John Dawson	Chief Executive Officer	31,179	72,736	697,680	1.0%
Stuart Paynter	Chief Financial Officer	17,820	32,358	143,294	0.2%
James Miskin	Chief Technical Officer	7,634	28,384	199,290	0.3%
Kyriacos Mitrophanous	Chief Scientific Officer	7,634	28,384	200,350	0.3%
Lisa Giles	Chief Project & Performance Officer	4,846	22,658	44,653	0.07%
Nick Page	Chief Operations Officer	6,178	29,967	58,827	0.09%
Helen Stephenson-Ellis	Chief People Officer	3,797	19,869	37,607	0.06%
Jason Slingsby	Chief Business Officer	7,232	27,675	103,836	0.2%

Notes:

1.          Includes the 2014 DBP awards to be met by market purchased shares held by the Oxford Biomedica Employee Trust

Under the terms of the 2015 DBP, the DBP awards will become exercisable as to one third of the shares subject to each award on each of the first three anniversaries of the grant date.

The 2019 LTIP awards are subject to a three year performance period and become exercisable from the third anniversary of the grant date, subject to the satisfaction of a performance condition.

The Award shall Vest by reference to an equal weight between the compounded annual growth rate of the Company's Share Price, calculated by comparing the average closing share price over the five Dealing Days immediately preceding the start of the Performance Period of 704.6p with the average share price of the Company over the three months immediately preceding the end of the Performance Period, in accordance with the TSR table below, and the compounded annual growth rate of the Company's Revenues calculated by comparing the audited Revenue figure as of 31 December 2018 preceding the start of the Performance period of £66.8m, with the audited Revenue figure as of 31 December 2021, in accordance with the Revenue table below.  

TSR Table

Compound annual growth rate of the Company's share price over the three year Performance Period	Extent to which Performance Condition is satisfied
Less than 10% per annum	0%
10% per annum (i.e. 33% over 3 years)	25%
Between 10% per annum and 17.5% per annum	On a straight line basis between 25% and 100%
17.5% per annum or above(i.e. 63% over three years)	100%

Revenue Table

Compound annual growth rate of the Company's share price over the three year Performance Period	Extent to which Performance Condition is satisfied
Less than 15% per annum	0%
15% per annum (i.e. 52.1% over 3 years)	25%
Between 15% per annum and 25% per annum	On a straight line basis between 25% and 100%
25% per annum or above (i.e. 95.3% over three years)	100%

There will also be a performance underpin, such that the awards would only vest to the extent that the Remuneration Committee considers that the overall performance of the business across the period justifies it. The share price at the third anniversary of the grant date will also be averaged across the three month period immediately preceding the end of the performance period to avoid rewarding for short term spikes in performance. Clawback and malus provisions will apply to the awards.

The issued share capital of the Company is 66,170,638 ordinary shares of 50 pence each.

The Notification of Dealing Forms set out below are provided in accordance with the requirements of the EU Market Abuse Regulation.

Notification of Dealing Form

1.

Details of the Person Discharging Managerial Responsibility ("PDMR")/person closely associated with them ("PCA")

a)

Name

John Dawson

2.

Reason for the notification

a)

Position/status

Chief Executive Officer

b)

Initial notification/

amendment

Initial Notification

3.

Details of the Issuer

a)

Name

Oxford Biomedica plc

b)

LEI code

213800S1GVQNXQ15K851

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

Ordinary Shares of 50 pence each

ISIN: GB00BDFBVT43

b)

Nature of the transaction

Grant of awards over Ordinary Shares under the Company's Long Term Incentive Plan and Deferred Bonus Plan. No consideration was paid for the grant of awards.

c)

Price(s) and volumes(s)

2019 LTIP Award

Price	Volume
Nil cost award	72,736

2019 DBP Award

Price	Volume
Nil cost award	31,179

d)

Aggregated information

-   Aggregate volume

-   Price

Awards granted over 103,915 shares in total

N/A

e)

Date of the transaction

2019-04-18

f)

Place of the transaction

London Stock Exchange, Main Market (XLON)

1.

Details of the Person Discharging Managerial Responsibility ("PDMR")/person closely associated with them ("PCA")

a)

Name

Stuart Paynter

2.

Reason for the notification

a)

Position/status

Chief Financial Officer

b)

Initial notification/

amendment

Initial Notification

3.

Details of the Issuer

a)

Name

Oxford Biomedica plc

b)

LEI code

213800S1GVQNXQ15K851

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

Ordinary Shares of 50 pence each

ISIN: GB00BDFBVT43

b)

Nature of the transaction

Grant of awards over Ordinary Shares under the Company's Long Term Incentive Plan and Deferred Bonus Plan. No consideration was paid for the grant of awards.

c)

Price(s) and volumes(s)

2019 LTIP Award

Price	Volume
Nil cost award	32,358

2019 DBP Award

Price	Volume
Nil cost award	17,820

d)

Aggregated information

-   Aggregate volume

-   Price

Awards granted over 50,178 shares in total

N/A

e)

Date of the transaction

2019-04-18

f)

Place of the transaction

London Stock Exchange, Main Market (XLON)

1.

Details of the Person Discharging Managerial Responsibility ("PDMR")/person closely associated with them ("PCA")

a)

Name

James Miskin

2.

Reason for the notification

a)

Position/status

Chief Technical Officer

b)

Initial notification/

amendment

Initial Notification

3.

Details of the Issuer

a)

Name

Oxford Biomedica plc

b)

LEI code

213800S1GVQNXQ15K851

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

Ordinary Shares of 50 pence each

ISIN: GB00BDFBVT43

b)

Nature of the transaction

Grant of awards over Ordinary Shares under the Company's Long Term Incentive Plan and Deferred Bonus Plan. No consideration was paid for the grant of awards.

c)

Price(s) and volumes(s)

2019 LTIP Award

Price	Volume
Nil cost award	28,384

2019 DBP Award

Price	Volume
Nil cost award	7,634

d)

Aggregated information

-   Aggregate volume

-   Price

Awards granted over 36,018 shares in total

N/A

e)

Date of the transaction

2019-04-18

f)

Place of the transaction

London Stock Exchange, Main Market (XLON)

1.

Details of the Person Discharging Managerial Responsibility ("PDMR")/person closely associated with them ("PCA")

a)

Name

Kyriacos Mitrophanous

2.

Reason for the notification

a)

Position/status

Chief Scientific Officer

b)

Initial notification/

amendment

Initial Notification

3.

Details of the Issuer

a)

Name

Oxford Biomedica plc

b)

LEI code

213800S1GVQNXQ15K851

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

Ordinary Shares of 50 pence each

ISIN: GB00BDFBVT43

b)

Nature of the transaction

Grant of awards over Ordinary Shares under the Company's Long Term Incentive Plan and Deferred Bonus Plan. No consideration was paid for the grant of awards.

c)

Price(s) and volumes(s)

2019 LTIP Award

Price	Volume
Nil cost award	28,384

2019 DBP Award

Price	Volume
Nil cost award	7,634

d)

Aggregated information

-   Aggregate volume

-   Price

Awards granted over 36,018 shares in total

N/A

e)

Date of the transaction

2019-04-18

f)

Place of the transaction

London Stock Exchange, Main Market (XLON)

1.

Details of the Person Discharging Managerial Responsibility ("PDMR")/person closely associated with them ("PCA")

a)

Name

Lisa Giles

2.

Reason for the notification

a)

Position/status

Chief Project & Performance Officer

b)

Initial notification/

amendment

Initial Notification

3.

Details of the Issuer

a)

Name

Oxford Biomedica plc

b)

LEI code

213800S1GVQNXQ15K851

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

Ordinary Shares of 50 pence each

ISIN: GB00BDFBVT43

b)

Nature of the transaction

Grant of awards over Ordinary Shares under the Company's Long Term Incentive Plan. No consideration was paid for the grant of awards.

c)

Price(s) and volumes(s)

2019 LTIP Award

Price	Volume
Nil cost award	22,658

2019 DBP Award

Price	Volume
Nil cost award	4,846

d)

Aggregated information

-   Aggregate volume

-   Price

Awards granted over 27,504 shares in total

N/A

e)

Date of the transaction

2019-04-18

f)

Place of the transaction

London Stock Exchange

1.

Details of the Person Discharging Managerial Responsibility ("PDMR")/person closely associated with them ("PCA")

a)

Name

Nick Page

2.

Reason for the notification

a)

Position/status

Chief Operations Officer

b)

Initial notification/

amendment

Initial Notification

3.

Details of the Issuer

a)

Name

Oxford Biomedica plc

b)

LEI code

213800S1GVQNXQ15K851

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

Ordinary Shares of 50 pence each

ISIN: GB00BDFBVT43

b)

Nature of the transaction

Grant of awards over Ordinary Shares under the Company's Long Term Incentive Plan. No consideration was paid for the grant of awards.

c)

Price(s) and volumes(s)

2019 LTIP Award

Price	Volume
Nil cost award	29,967

2019 DBP Award

Price	Volume
Nil cost award	6,178

d)

Aggregated information

-   Aggregate volume

-   Price

Awards granted over 36,145 shares in total

N/A

e)

Date of the transaction

2019-04-18

f)

Place of the transaction

London Stock Exchange, Main Market (XLON)

1.

Details of the Person Discharging Managerial Responsibility ("PDMR")/person closely associated with them ("PCA")

a)

Name

Helen Stephenson-Ellis

2.

Reason for the notification

a)

Position/status

Chief People Officer

b)

Initial notification/

amendment

Initial Notification

3.

Details of the Issuer

a)

Name

Oxford Biomedica plc

b)

LEI code

213800S1GVQNXQ15K851

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

Ordinary Shares of 50 pence each

ISIN: GB00BDFBVT43

b)

Nature of the transaction

Grant of awards over Ordinary Shares under the Company's Long Term Incentive Plan. No consideration was paid for the grant of awards.

c)

Price(s) and volumes(s)

2019 LTIP Award

Price	Volume
Nil cost award	19,869

2019 DBP Award

Price	Volume
Nil cost award	3,797

d)

Aggregated information

-   Aggregate volume

-   Price

Awards granted over 23,666 shares in total

N/A

e)

Date of the transaction

2019-04-18

f)

Place of the transaction

London Stock Exchange, Main Market (XLON)

1.

Details of the Person Discharging Managerial Responsibility ("PDMR")/person closely associated with them ("PCA")

a)

Name

Jason Slingsby

2.

Reason for the notification

a)

Position/status

Chief Business Officer

b)

Initial notification/

amendment

Initial Notification

3.

Details of the Issuer

a)

Name

Oxford Biomedica plc

b)

LEI code

213800S1GVQNXQ15K851

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

Ordinary Shares of 50 pence each

ISIN: GB00BDFBVT43

b)

Nature of the transaction

Grant of awards over Ordinary Shares under the Company's Long Term Incentive Plan. No consideration was paid for the grant of awards.

c)

Price(s) and volumes(s)

2019 LTIP Award

Price	Volume
Nil cost award	27,675

2019 DBP Award

Price	Volume
Nil cost award	7,232

d)

Aggregated information

-   Aggregate volume

-   Price

Awards granted over 34,907 shares in total

N/A

e)

Date of the transaction

2019-04-18

f)

Place of the transaction

London Stock Exchange, Main Market (XLON)

-Ends-

For further information, please contact:
Oxford Biomedica plc: Stuart Paynter, Company Secretary	Tel: +44 (0)1865 783 000

About Oxford Biomedica

Oxford Biomedica (LSE:OXB) is a leading gene and cell therapy group focused on developing life changing treatments for serious diseases. Oxford Biomedica and its subsidiaries (the "Group") have built a sector leading lentiviral vector delivery platform (LentiVector®), which the Group leverages to develop in vivo and ex vivo products both in-house and with partners. The Group has created a valuable proprietary portfolio of gene and cell therapy product candidates in the areas of oncology, ophthalmology and CNS disorders. The Group has also entered into a number of partnerships, including with Novartis, Sanofi, Axovant Gene Therapies, Orchard Therapeutics, Boehringer Ingelheim, the UK Cystic Fibrosis Gene Therapy Consortium and Imperial Innovations, through which it has long-term economic interests in other potential gene and cell therapy products. Oxford Biomedica is based across several locations in Oxfordshire, UK and employs more than 430 people. Further information is available at www.oxb.com

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 rns@lseg.com or visit www.rns.com.

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