RNS Number : 1176P
Ultra Electronics Holdings PLC
05 June 2020
5 June 2020
Ultra Electronics Holdings plc
(the "Company")
Long Term Incentive Plan Awards
Further to the announcement on 18 March 2020, on 4 June 2020, Simon Pryce, Chief Executive Officer, was granted 10,410 awards over ordinary shares of 5 pence each in the Company ("Awards") under the Ultra Electronics Long Term Incentive Plan 2017 ("LTIP") on the same terms as those granted as at 17 March 2020..
The Awards are in the form of nil price options. 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 17th March 2023, 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). Shares acquired that are not sold to fund tax withholding must normally be retained for two years after vesting.
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: 5 June 2020
[1] 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, in accordance with the same terms as prior Awards granted to Simon Pryce on 17 March 2020.
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1.
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Details of PDMR / person closely associated with them ("PCA")
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a)
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Name
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Simon Pryce
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b)
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Position / status
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Chief Executive Office/PDMR
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c)
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Initial notification / amendment
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Initial notification
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2
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Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
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a)
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Name
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Ultra Electronics Holdings plc
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b)
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LEI
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213800E68EATZGAJIP64
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3.
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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
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a)
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Description of the financial instrument
Identification Code
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5p Ordinary Shares
GB0009123323
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b)
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Nature of the transaction
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Grant of a conditional award under the Company's Long Term Incentive Plan 2017 as a nil exercise price option.
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c)
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Price(s) and volume(s)
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Price(s)
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Volume(s)
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Nil cost options
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10,410
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d)
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Aggregated information
- Aggregated volume
- Price
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Not applicable - single transaction
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e)
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Date of the transaction
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4 June 2020
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f)
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Place of the transaction
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Outside a trading venue
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