The Vitec Group PLC 2014 LTIP award - vesting outcome (9936Z)
21 March 2017 - 3:03AM
UK Regulatory
TIDMVTC
RNS Number : 9936Z
The Vitec Group PLC
20 March 2017
20 March 2017
THE VITEC GROUP PLC
Notification of Transactions of Directors and Persons
Discharging Managerial Responsibility (PDMRs)
Long Term Incentive Plan (LTIP) - Lapse of 2014 Awards
The Company confirms that neither of the performance conditions
associated with awards made under the LTIP on 2 April 2014 reached
threshold performance conditions for vesting and hence all awards
under the 2014 LTIP will lapse on their third anniversary on 2
April 2017. The performance conditions were based 50% on earnings
per share growth and 50% on Total Shareholder Return performance
compared to a comparator group.
Details of the number of awards that have lapsed along with each
Executive Director and PDMR's current holdings in the Company's
shares following this lapse are set out below.
Name Position Number of Current
2014 LTIP shareholding
awards lapsed as at date
of announcement*
--------------- ---------------- --------------- ------------------
Stephen Group Chief 275,551
Bird Executive 65,958 (42,269)
--------------- ---------------- --------------- ------------------
Group Finance
Paul Hayes Director 45,343 82,706 (29,920)
--------------- ---------------- --------------- ------------------
Group Business
Martin Development
Green Director 33,037 34,821 (12,851)
--------------- ---------------- --------------- ------------------
Marco Pezzana PDMR 38,013 33,545 (10,378)
--------------- ---------------- --------------- ------------------
Jon Bolton PDMR 25,487 28,181 (5,066)
--------------- ---------------- --------------- ------------------
Halid Hatic PDMR 10,000 Nil (Nil)
--------------- ---------------- --------------- ------------------
* The number in brackets refers to the number of ordinary shares
purchased in the market with funds provided by the Executive
Director or PDMR and which are held by Capita Trustees Limited, the
Trustee used to hold shares in respect of awards made under The
Vitec Group 2005 Deferred Bonus Plan and 2014 Deferred Bonus Plan.
Stephen Bird's holding includes 2,000 shares held by a connected
person.
Enquiries:
Jon Bolton
Group Company Secretary
020 8332 4600
A Snapshot of The Vitec Group
Vitec is a leading global provider of premium branded products
and services to the fast changing and growing "image capture and
sharing" market.
Vitec's customers include broadcasters, independent content
creators, photographers and enterprises, and our activities
comprise: design, manufacture and distribution of high performance
products and software including camera supports, wireless systems,
robotic camera systems, prompters, LED lights, mobile power,
monitors and bags; and premium services including technical
solutions, systems integration and equipment rental for TV
production teams, film crews and enterprises.
We employ around 1,700 people across the world in ten different
countries and are organised in two Divisions: Broadcast and
Photographic.
The Vitec Group plc is listed on the London Stock Exchange with
2016 revenue of GBP376.2 million.
More information can be found at: www.vitecgroup.com.
LEI number: 2138007H5DQ4X8YOCF14
This information is provided by RNS
The company news service from the London Stock Exchange
END
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