7th Jul 2025 07:00
ALPHAWAVE IP GROUP PLC
Grant of Awards to Persons Discharging Managerial Responsibilities (PDMRs)
LONDON, United Kingdom and TORONTO, Ontario, Canada, 7 July 2025 - Alphawave IP Group plc (LSE: AWE, the "Company" or "Alphawave Semi").
In alignment with what was reported in the 2024 Annual Report, on 3 July 2025 awards of ordinary shares of £0.01 each in the capital of the Company were granted under the Alphawave IP Group plc Long Term Incentive Plan (the "LTIP") to PDMRs of the Company as follows:
Number of Shares | Percentage of salary | |
Tony Pialis | 4,666,667 | 1,000% |
Rahul Mathur | 2,290,512 | 900% |
2025 LTIP Award
As described in the 2024 Annual Report, vesting of the 2025 LTIP Awards will be linked to the achievement of stretching performance targets, closely aligned with the creation of value for shareholders. Consistent with previous years, these will be based on three-year Relative Total Shareholder Return ('TSR') (70% weighting) and adjusted EPS growth (30% weighting) performance conditions, tested over the 3 financial years starting 1 January 2025, as summarised in the table below:
Weighting | Measure / Performance Condition | Index | Threshold(25% vesting) | Maximum(100% vesting) |
35% | Relative TSR | FTSE 250 | Median | Upper Quartile |
35% | Relative TSR | FTSE All-World Technology Index | Median | Upper Quartile |
30% | Adjusted EPS growth (2027 figure vs 2024 base year) | Not applicable | 10.2% CAGR | 17.4% CAGR |
These performance metrics have been selected as appropriate measures, as they align with Alphawave Semi's long-term shareholder interests. The targets were set at a level the Remuneration Committee believes to be appropriately stretching taking into account both internal performance expectations and external analyst forecasts.
The Remuneration Committee has chosen to use TSR as an important measure of value created for our shareholders and measure against the constituents of the FTSE 250, reflecting our UK listing, and against those of the All-World Technology Index, reflecting our sector.
Adjusted EPS means, for any financial year, Alphawave Semi's earnings per share as shown in the Company's accounts for that year, adjusted for one-off expenditure or revenue (such as costs associated with mergers and acquisitions), expenses that vary significantly between periods (such as share-based payments) and expenses that do not relate to Alphawave Semi's operating performance (such as exchange gains or losses). Such adjustments may be made as the Remuneration Committee considers appropriate.
MUFG Corporate Governance Limited
Company Secretary
Notification of Transactions of Directors, Persons Discharging Managerial Responsibilities ("PDMRs") and persons closely associated with them ("PCAs")
1 | Details of the person discharging managerial responsibilities / person closely associated
| |||||
a) | Name
| Tony Pialis | ||||
2 | Reason for the notification
| |||||
a) | Position/status
| President and Chief Executive Officer - classified as a PDMR
| ||||
b) | Initial notification / Amendment
| Initial Notification | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
a) | Name
| Alphawave IP Group plc | ||||
b) | LEI
| 213800ZXTO21EU4VMH37 | ||||
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, type of instrument
Identification code
| Ordinary Shares of £0.01 each
Identification code (ISIN): GB00BNDRMJ14 | ||||
b) | Nature of the transaction
| Award of Ordinary Shares under Long Term Incentive Plan - 2025 award. | ||||
c) | Price(s) and volume(s) | |||||
Price(s)
| Volume(s) | |||||
GBP00.0000 | 4,666,667 | |||||
d) | Aggregated information
- Aggregated volume
- Price |
N/A (single transaction) | ||||
e) | Date of the transaction
| 3 July 2025 | ||||
f) | Place of the transaction | Outside a trading venue
| ||||
Notification of Transactions of Directors, Persons Discharging Managerial Responsibilities ("PDMRs") and persons closely associated with them ("PCAs")
1 | Details of the person discharging managerial responsibilities / person closely associated
| |||||
a) | Name
| Rahul Mathur | ||||
2 | Reason for the notification
| |||||
a) | Position/status
| Chief Operating and Chief Financial Officer - classified as a PDMR
| ||||
b) | Initial notification / Amendment
| Initial Notification | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
a) | Name
| Alphawave IP Group plc | ||||
b) | LEI
| 213800ZXTO21EU4VMH37 | ||||
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, type of instrument
Identification code
| Ordinary Shares of £0.01 each
Identification code (ISIN): GB00BNDRMJ14 | ||||
b) | Nature of the transaction
| Award of Ordinary Shares under Long Term Incentive Plan - 2025 award. | ||||
c) | Price(s) and volume(s) | |||||
Price(s)
| Volume(s) | |||||
GBP00.0000 | 2,290,512 | |||||
d) | Aggregated information
- Aggregated volume
- Price |
N/A (single transaction) | ||||
e) | Date of the transaction
| 3 July 2025 | ||||
f) | Place of the transaction | Outside a trading venue
| ||||
Related Shares:
Alphawave Ip