Vitec Group PLC (The) Director/PDMR Shareholding (4827S)
11 March 2019 - 11:15PM
UK Regulatory
TIDMVTC
RNS Number : 4827S
Vitec Group PLC (The)
11 March 2019
11 March 2019
THE VITEC GROUP PLC
Notification of Transactions of Directors and Persons
Discharging Managerial Responsibility (PDMRs)
Long Term Incentive Plan ("LTIP") - 2019 Awards
The Vitec Group plc ("the Company") announces that on 8 March
2019 awards of ordinary shares of 20 pence each were made under the
Company's LTIP to Executive Directors and PDMRs. The number of
shares awarded is set out in the following table and further
details on the awards are provided below.
Name Position Award of 2019 LTIP
shares
Stephen Bird Group Chief Executive 48,355
---------------------------- -------------------
Kath Kearney-Croft Group Finance Director 34,011
---------------------------- -------------------
Group Business Development
Martin Green Director 30,334
---------------------------- -------------------
Marco Pezzana PDMR 25,795
---------------------------- -------------------
Alan Hollis PDMR 19,353
---------------------------- -------------------
Nicol Verheem PDMR 22,367
---------------------------- -------------------
Jon Bolton PDMR 15,167
---------------------------- -------------------
Halid Hatic PDMR 10,919
---------------------------- -------------------
Martin Vann PDMR 10,772
---------------------------- -------------------
The awards are made subject to the following performance
conditions.
Subject to satisfaction of performance conditions, the awards
made under the LTIP will vest on the third anniversary of the date
of grant on 8 March 2022. In respect of Executive Directors, any
awards vesting under the 2019 award will, after deduction of taxes,
be subject to a further two year holding period.
33% of the 2019 award is subject to the Company's total
shareholder return ("TSR") ranked against the constituents of the
FTSE 250 index (excluding financial services companies and
investment trusts). For median performance in the comparator group
there will be 25% vesting and for upper quartile performance there
will be full vesting, with a straight line sliding scale between
these two points. None of this part of the award will vest for TSR
performance below the median.
67% of the 2019 award is subject to growth in the Company's
adjusted basic earnings per share ("adjusted EPS"). Annualised
adjusted EPS growth of 6% per annum over the period will be
required for threshold vesting (25%) of this part of the award,
with annualised adjusted EPS growth of 14% per annum or higher
required for all of this part of the award to vest. There will be a
straight line sliding scale between these two points. None of this
part of the award will vest for annualised adjusted EPS growth
below 6% per annum over the period. EPS growth will be measured
from the adjusted "normalised" 2018 EPS of 85.2 pence.
Both performance conditions are independent of one another and
vesting will also take into account the Group's underlying
performance. In particular, the Remuneration Committee will take
into account Return on Capital Employed ("ROCE") performance over
the performance period for the adjusted EPS element of the
award.
Enquiries:
Jon Bolton
Group Company Secretary
020 8332 4600
A Snapshot of The Vitec Group plc
Vitec is a leading global provider of premium branded products
and solutions to the fast moving and growing "image capture and
content creation" 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 solutions including camera supports, camera mounted
electronic accessories, robotic camera systems, prompters, LED
lights, mobile power, monitors, bags, motion control and noise
reduction equipment.
We employ around 1,800 people across the world in 13 different
countries and are organised in three Divisions: Imaging Solutions,
Production Solutions and Creative Solutions.
The Vitec Group plc is listed on the London Stock Exchange with
2018 revenue of GBP385.4 million.
More information can be found at: www.vitecgroup.com
LEI number: 2138007H5DQ4X8YOCF14
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
DSHBDGDXXBBBGCB
(END) Dow Jones Newswires
March 11, 2019 08:15 ET (12:15 GMT)
Videndum (LSE:VID)
Historical Stock Chart
From Apr 2024 to May 2024
Videndum (LSE:VID)
Historical Stock Chart
From May 2023 to May 2024