16th Mar 2021 17:12
16 March 2021
Ultra Electronics Holdings plc(the "Company")
Deferred Bonus Awards
The Company announces that, on 15 March 2021, Simon Pryce and Jos Sclater were granted deferred bonus awards over ordinary shares of 5 pence each in the Company ("Awards") under the Ultra Electronics Long Term Incentive Plan 2017 ("LTIP") as follows:
Number of Awards | |
Simon Pryce | 16,529 |
Jos Sclater | 8,588 |
The Awards were granted using the average middle-market quotation over three days prior to date of grant (as derived from the London Stock Exchange Daily Official List), being £20.50.
The Awards are in the form of nil cost options with a nil exercise price. Additional shares may be delivered equivalent to the value of dividends received from grant to vesting, and during the holding periods mentioned below.
The Awards will normally vest on the third anniversary of the grant date, subject to continuous employment. Vested options are normally exercisable until the day before the 10th anniversary of their grant. Upon vesting the shares acquired that are not sold to fund tax liabilities are subject to a further two year holding period.
The Awards and shares acquired upon vesting or exercise are subject to the malus and clawback provisions of the LTIP.
No consideration was paid for the grant of the awards and no payment is due on their vesting or exercise.
Further information
The below notification is 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: Alex Dent +44 (0) 20 8813 4321
For and on behalf of Ultra Electronics Holdings plc.
Louise Ruppel
General Counsel & Company Secretary
1. | Details of PDMR / person closely associated with them ("PCA") | ||||||||||
a) | Name | Simon Pryce | |||||||||
b) | Position / status | Chief Executive 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 deferred bonus award under the Company's Long Term Incentive Plan as nil cost options. | |||||||||
c) | Price(s) and volume(s) |
| |||||||||
d) | Aggregated information - Aggregated volume - Price |
16,529Nil | |||||||||
e) | Date of the transaction | 15 March 2021 | |||||||||
f) | Place of the transaction | Outside a trading venue | |||||||||
1. | Details of PDMR / person closely associated with them ("PCA") | ||||||||||
a) | Name | Mark Josceline Sclater | |||||||||
b) | Position / status | Chief Financial 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 deferred bonus award under the Company's Long Term Incentive Plan as nil cost options. | |||||||||
c) | Price(s) and volume(s) |
| |||||||||
d) | Aggregated information - Aggregated volume - Price |
8,588Nil | |||||||||
e) | Date of the transaction | 15 March 2021 | |||||||||
f) | Place of the transaction | Outside a trading venue | |||||||||
Related Shares:
ULE.L