18th Mar 2020 18:12
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) |
| ||||||||||
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) |
| ||||||||||
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) |
| ||||||||||
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) |
| ||||||||||
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) |
| ||||||||||
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) |
| ||||||||||
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) |
| ||||||||||
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 | ||||||||||
Related Shares:
ULE.L