21st Mar 2018 08:55
Ultra Electronics Holdings plc (the "Company")
Ultra Electronics Long Term Incentive Plan 2017
Director/PDMR Shareholding
On 20 March 2018 the following Executive Directors of the Company and other Persons Discharging Managerial Responsibility, were granted awards entitling them to acquire ordinary shares of 5 pence each in the Company under the Ultra Electronics Long Term Incentive Plan 2017 as follows:
Director/PDMR |
Number of shares covered by Award
| |
Amitabh | Sharma | 28,145 |
Carlos | Santiago | 29,867 |
Michael | Baptist | 14,424 |
Graeme | Stacey | 13,439 |
William | Terry | 17,396 |
Christopher | Binsley | 7,440 |
The awards are in the form of options with a nil exercise price (other than those granted to Carlos Santiago and William Terry 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), organic operating profit (OOP), and 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 2 years from 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 above 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: Anant Prakash +44 (0) 02 8813 4321
For and on behalf of Ultra Electronics Holdings plc.
Anant Prakash
General Counsel & Company Secretary
Date: 21 March 2018
Related Shares:
ULE.L