RNS Number : 7062G
Ultra Electronics Holdings PLC
18 March 2020
 

18 March 2020

 

Ultra Electronics Holdings plc
(the "Company")

 

Long Term Incentive Plan Awards

On 17 March 2020, the following Executive Directors of the Company and other Persons Discharging Managerial Responsibility (the "Executives") were granted awards over ordinary shares of 5 pence each in the Company ("Awards") under the Ultra Electronics Long Term Incentive Plan 2017 ("LTIP") as follows:

 

Director/PDMR

 

Number of shares covered by Award

 

Simon Pryce

72,867*

Jos Sclater

32,453

Michael Baptist

14,389

Thomas Link

16,233

Richard Cashin

9,164

Louise Ruppel

12,679

Steve Izquierdo

10,776

Total

178,971

* Awards over a further 10,410 shares will be made to Simon Pryce as soon as practicable following the forthcoming Annual General Meeting on the same vesting terms, subject to shareholder approval of the new Remuneration Policy and related amendments to the LTIP.

 

The Awards were granted using a closing middle-market quotation of £16.37 (as derived from the London Stock Exchange Daily Official List) as at 16 March 2020, being the day preceding the date of grant.

 

The awards are in the form of nil price options (other than that granted to Thomas Link which are in the form of conditional awards under which shares are automatically delivered on vesting). Additional shares may be delivered equivalent to the value of dividends received from grant to vesting (and, in the case of options, during the holding period mentioned below).

 

The awards will normally vest on the third anniversary of the grant date, subject to continued employment and the satisfaction of performance conditions (each applicable to a quarter of the award) based upon relative total shareholder return against constituents of the FTSE 250 index (excluding investment trusts), return on invested capital (ROIC), annual growth in organic operating profit (OOP), and annual growth in organic operating revenue (OOR). Vested options are normally exercisable until the day before the 10th anniversary of their grant. Shares acquired that are not sold to fund tax withholding must normally be retained for two years after vesting.

 

Awards may also be settled in cash at the discretion of the Remuneration Committee.

 

No consideration was paid for the grant of the awards and no payment is due on their vesting or exercise.

 

Further information

 

The below notifications are made in accordance with Article 19 of the Market Abuse Regulation and Rule 3.1 of the Disclosure and Transparency Rules.

 

Name of contact and telephone number for enquiries:  Cherise Trumper  +44 (0) 20 8813 4321

For and on behalf of Ultra Electronics Holdings plc.

 

Louise Ruppel

General Counsel & Company Secretary

Date: 18 March 2020



 

 

 

1.

Details of PDMR / person closely associated with them ("PCA")

a)

Name

Simon Pryce

b)

Position / status

Chief Executive Office/PDMR

c)

Initial notification / amendment

Initial notification

2

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Ultra Electronics Holdings plc

b)

LEI

213800E68EATZGAJIP64

 

3.

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

5p Ordinary Shares

 

GB0009123323

b)

Nature of the transaction

Grant of a conditional award under the Company's Long Term Incentive Plan 2017 as a nil exercise price option.

c)

Price(s) and volume(s)

Price(s)

Volume(s)

Nil cost options

83,277





d)

Aggregated information

-     Aggregated volume

-     Price

 

Not applicable - single transaction

e)

Date of the transaction

17 March 2020

f)

Place of the transaction

Outside a trading venue

 

1.

Details of PDMR / person closely associated with them ("PCA")

a)

Name

Jos Sclater

b)

Position / status

Chief Finance Officer/PDMR

c)

Initial notification / amendment

Initial notification

2

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Ultra Electronics Holdings plc

b)

LEI

213800E68EATZGAJIP64

 

3.

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

5p Ordinary Shares

 

GB0009123323

b)

Nature of the transaction

Grant of a conditional award under the Company's Long Term Incentive Plan 2017 as a nil exercise price option.

c)

Price(s) and volume(s)

Price(s)

Volume(s)

Nil cost options

32,453





d)

Aggregated information

-     Aggregated volume

-     Price

 

Not applicable - single transaction

e)

Date of the transaction

17 March 2020

f)

Place of the transaction

Outside a trading venue

 

 

1.

Details of PDMR / person closely associated with them ("PCA")

a)

Name

Michael Baptist

b)

Position / status

President - Intelligence and Communications/PDMR

c)

Initial notification / amendment

Initial notification

2

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Ultra Electronics Holdings plc

b)

LEI

213800E68EATZGAJIP64

 

3.

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

5p Ordinary Shares

 

GB0009123323

b)

Nature of the transaction

Grant of a conditional award under the Company's Long Term Incentive Plan 2017 as a nil exercise price option.

c)

Price(s) and volume(s)

Price(s)

Volume(s)

Nil cost options

14,389





d)

Aggregated information

-     Aggregated volume

-     Price

 

Not applicable - single transaction

e)

Date of the transaction

17 March 2020

f)

Place of the transaction

Outside a trading venue

 

 

1.

Details of PDMR / person closely associated with them ("PCA")

a)

Name

Thomas Link

b)

Position / status

President - Maritime/PDMR

c)

Initial notification / amendment

Initial notification

2

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Ultra Electronics Holdings plc

b)

LEI

213800E68EATZGAJIP64

 

3.

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

5p Ordinary Shares

 

GB0009123323

b)

Nature of the transaction

Grant of a conditional award under the Company's Long Term Incentive Plan 2017 as a nil exercise price option.

c)

Price(s) and volume(s)

Price(s)

Volume(s)

Nil cost options

16,233





d)

Aggregated information

-     Aggregated volume

-     Price

 

Not applicable - single transaction

e)

Date of the transaction

17 March 2020

f)

Place of the transaction

Outside a trading venue



 

 

1.

Details of PDMR / person closely associated with them ("PCA")

a)

Name

Richard Cashin

b)

Position / status

Global Director Strategy and Development/PDMR

c)

Initial notification / amendment

Initial notification

2

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Ultra Electronics Holdings plc

b)

LEI

213800E68EATZGAJIP64

 

3.

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

5p Ordinary Shares

 

GB0009123323

b)

Nature of the transaction

Grant of a conditional award under the Company's Long Term Incentive Plan 2017 as a nil exercise price option.

c)

Price(s) and volume(s)

Price(s)

Volume(s)

Nil cost options

9,164





d)

Aggregated information

-     Aggregated volume

-     Price

 

Not applicable - single transaction

e)

Date of the transaction

17 March 2020

f)

Place of the transaction

Outside a trading venue

 

1.

Details of PDMR / person closely associated with them ("PCA")

a)

Name

Louise Ruppel

b)

Position / status

Group Counsel & Company Secretary/PDMR

c)

Initial notification / amendment

Initial notification

2

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Ultra Electronics Holdings plc

b)

LEI

213800E68EATZGAJIP64

 

3.

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

5p Ordinary Shares

 

GB0009123323

b)

Nature of the transaction

Grant of a conditional award under the Company's Long Term Incentive Plan 2017 as a nil exercise price option.

c)

Price(s) and volume(s)

Price(s)

Volume(s)

Nil cost options

12,679





d)

Aggregated information

-     Aggregated volume

-     Price

 

Not applicable - single transaction

e)

Date of the transaction

17 March 2020

f)

Place of the transaction

Outside a trading venue

 

1.

Details of PDMR / person closely associated with them ("PCA")

a)

Name

Stephen Izquierdo

b)

Position / status

Chief Human Resources Officer/PDMR

c)

Initial notification / amendment

Initial notification

2

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Ultra Electronics Holdings plc

b)

LEI

213800E68EATZGAJIP64

 

3.

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

5p Ordinary Shares

 

GB0009123323

b)

Nature of the transaction

Grant of a conditional award under the Company's Long Term Incentive Plan 2017 as a nil exercise price option.

c)

Price(s) and volume(s)

Price(s)

Volume(s)

Nil cost options

10,776





d)

Aggregated information

-     Aggregated volume

-     Price

 

Not applicable - single transaction

e)

Date of the transaction

17 March 2020

f)

Place of the transaction

Outside a trading venue

 

 


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