9th Dec 2021 08:58
EUROMONEY INSTITUTIONAL INVESTOR PLC
NOTIFICATION OF TRANSACTIONS BY PDMRs
GRANT OF SHARE OPTIONS
9 December 2021
Euromoney Institutional Investor PLC (the "Company") announces that on 6 December 2021 share awards (the "Awards") in the form of conditional share awards or nil-cost options over Ordinary shares in the Company ("Shares") were granted to the following persons discharging managerial responsibilities ("PDMRs") in the Company under the Performance Share Plan ("PSP") and the Deferred Bonus Plan ("DBP") as follows:
Name | Position | Award of Shares under the PSP1 | Award of Shares under the DBP1 | Total |
Andrew Rashbass | CEO | 155,925 | 35,911 | 191,836 |
Wendy Pallot | CFO | 60,810 | 7,213 | 68,023 |
For the PSP and the DBP, the share price used to determine the number of Shares awarded was the average of the middle market quotations of an Ordinary Share as derived from the Daily Official List for the five dealing days preceding the date of grant.
Awards under the PSP
The number of Shares which may vest on 6 December 2026 (being 5 years after the grant) under the PSP are subject to the rules of the PSP approved by the Remuneration Committee and will depend on the extent to which performance measures are satisfied over a three-year period from 1 October 2021 and ending on 30 September 2024. A two-year holding period applies in addition to the three-year performance period.
The performance targets are set out in the following table:
Performance measure | Weighting | Threshold performance (25% of the award will vest) | Maximum performance (100% of the award will vest) |
Total Shareholder Return2 | 30% | Median | Upper quartile |
Group adjusted diluted EPS | 40% | 52.6p | 69.2p |
Group underlying revenue growth | 30% | 3% average annual growth rate | 9% average annual growth rate |
For each performance measure, no vesting will occur if performance is below threshold and vesting occurs on a straight-line basis between threshold and maximum.
The Remuneration Committee will closely monitor the performance measures and will exercise its discretion as appropriate to ensure that the final outcomes are warranted based on Company performance in order to avoid windfall gains.
Awards under the DBP
Annual bonus awards for Executive Director above 100% of base salary are required to be deferred into Shares for two years.
The number of Shares which may vest on 6 December 2023 (being two years after the grant) are subject to the rules of the DBP as approved by the Remuneration Committee.
In accordance with the UK Market Abuse Regulations the relevant Financial Conduct Authority notifications are set out below.
1. | Details of the person discharging managerial responsibilities/ person closely associated | |||||
a) | Name | Andrew Rashbass | ||||
2. | Reason for the notification | |||||
a) | Position/status | Chief Executive Officer | ||||
b) | Initial notification/ amendment | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Euromoney Institutional Investor PLC | ||||
b) | LEI | 213800PZU2RGHMHE2S67 | ||||
4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted | |||||
a) | Description of the financial instrument, type of instrument | Ordinary shares of 0.25 pence each | ||||
| Identification code | GB0006886666 | ||||
b) | Nature of the transaction | A conditional award or nil-cost option over Ordinary shares of Euromoney Institutional Investor PLC granted under the Company's Performance Share Plan and Deferred Bonus Plan on 6 December 2021 | ||||
c) | Price(s), volume(s) |
| ||||
d) | Aggregated information - Aggregated volume |
191,836 | ||||
| - Price | Nil | ||||
e) | Date of the transaction | 6 December 2021 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
1. | Details of the person discharging managerial responsibilities/ person closely associated | |||||
a) | Name | Wendy Pallot | ||||
2. | Reason for the notification | |||||
a) | Position/status | Chief Financial Officer | ||||
b) | Initial notification/ amendment | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Euromoney Institutional Investor PLC | ||||
b) | LEI | 213800PZU2RGHMHE2S67 | ||||
4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted | |||||
a) | Description of the financial instrument, type of instrument | Ordinary shares of 0.25 pence each | ||||
| Identification code | GB0006886666 | ||||
b) | Nature of the transaction | A conditional award or nil-cost option over Ordinary shares of Euromoney Institutional Investor PLC granted under the Company's Performance Share Plan and Deferred Bonus Plan on 6 December 2021 | ||||
c) | Price(s), volume(s) |
| ||||
d) | Aggregated information - Aggregated volume | 68,023 | ||||
| - Price | Nil | ||||
e) | Date of the transaction | 6 December 2021 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
Ends
Any queries in relation to this announcement should be made to:
Tim Bratton, General Counsel & Company Secretary: +44 20 7779 8288; [email protected]
About Euromoney Institutional Investor PLC
Euromoney Institutional Investor PLC ("Euromoney") is a global B2B information-services business. We provide actionable data, analysis, intelligence and access through three divisions in markets where information and convening market participants are valued. Euromoney is listed on the London Stock Exchange and is a member of the FTSE 250 share index. (euromoneyplc.com)
LEI number: 213800PZU2RGHMHE2S67
1 Reflects the maximum number of Shares which may vest subject to the rules of the relevant plan.
2 Relative to a comparator group of FTSE 250 companies excluding investment trusts. The starting and ending share prices are averaged over three months (i.e. the three-months ending 30 September 2021 and 30 September 2024) with dividends over the performance period reinvested.
Related Shares:
ERM.L