23rd Feb 2016 09:55
XP POWER LTD - Director/PDMR ShareholdingXP POWER LTD - Director/PDMR Shareholding
PR Newswire
London, February 23
23 February 2016
XP Power Limited (“XP” or the “Company”)
Grant of options
XP announces that on 23 February 2016, certain Directors of the Company were awarded options over ordinary shares of 1p each in the Company (“Ordinary Shares”), under the Company's Share Option Plan, as detailed below.
| Director | Number of Ordinary Shares over which options granted | Exercise price per share | Total number of shares over which options held following notification |
| Mike Laver | 25,000 | £15.425 | 100,000 |
| Duncan Penny | 50,000 | £15.425 | 125,000 |
| Jonathan Rhodes | 20,000 | £15.425 | 40,000 |
| Andy Sng | 10,000 | £15.425 | 60,000 |
The above options will vest 50% on the third anniversary from the date of grant and 50% on the fourth anniversary from the date of grant. The vesting of these options is subject to XP’s Total Shareholder Return (“TSR”) relative to the FTSE350 Electronic and Electrical Equipment Sector as set out in the following table:
| TSR relative to the FTSE Electronic and Electrical Equipment Sector | Percentage of award that vests |
| Top 20th percentile | 100% |
| Median | 25% |
| Between the median and the Top 20th percentile vesting is on a straight line basis between 25% to 100% | 25% to 100% |
| Below median | Nil |
Malus and clawback provisions are also in place to reduce or recover the awards for criteria such as any material misstatement of the financial statements, a major environmental event, a breach of the Company’s code of ethics, or a serious health and safety issue.
-Ends-
Enquiries:
XP Power
Duncan Penny, Chief Executive Officer +44 (0)118 976 5086
Jonathan Rhodes, Finance Director +44 (0)118 976 5074
Citigate Dewe Rogerson +44 (0)20 7638 9571
Kevin Smith/Jos Bieneman
Related Shares:
Xp Power