Wizz Air Holdings PLC Director/PDMR Shareholding (1126E)
07 February 2018 - 6:00PM
UK Regulatory
TIDMWIZZ
RNS Number : 1126E
Wizz Air Holdings PLC
07 February 2018
Wizz Air Holdings Plc
Wizz Air Long Term Incentive Plan ("LTIP") award grants
LONDON, 7 February 2018 - Wizz Air Holdings Plc ("Wizz Air" or
the "Company"), the largest low-cost airline in Central and Eastern
Europe, announces the granting of awards under its LTIP, to a
person discharging management responsibilities ("PDMR").
On 6 February 2018, following approval by the Company's
Remuneration Committee, Wizz Air made a grant of options under the
LTIP over 23,350 ordinary shares in the capital of Wizz Air of
GBP0.0001 par value (identification code JE00BN574F90) ("Award").
This Award was granted to a PDMR as set out below.
The following PDMR was granted an award of Performance
Options:
1. Details of the person discharging managerial
responsibilities / person closely associated
-------------- ------------------------------------------------------------------
a) Name Stephen Jones
-------------- ----------------------------- -----------------------------------
2. Reason for the notification
-------------- ------------------------------------------------------------------
a) Position / status Executive Vice President
& Deputy Chief Executive
Officer
-------------- ----------------------------- -----------------------------------
b) Initial notification Initial notification
/ amendment
-------------- ----------------------------- -----------------------------------
3. Details of the issuer
-------------- ------------------------------------------------------------------
a) Name Wizz Air Holdings Plc
-------------- ----------------------------- -----------------------------------
b) Legal entity 213800COXGZCORLJZA85
identifier
-------------- ----------------------------- -----------------------------------
4. Details of the transaction(s): section
to be repeated for (i) each type of instrument;
(ii) each type of transaction; (iii) each
date; and (iv) each place where transactions
have been conducted
-------------- ------------------------------------------------------------------
a) Description of Ordinary shares of GBP0.0001
the financial each
instrument, type
of instrument
Identification JE00BN574F90
code
-------------- ----------------------------- -----------------------------------
b) Nature of the Grant of Performance Options
transaction
-------------- ----------------------------- -----------------------------------
c) Currency British Pounds
-------------- ----------------------------- -----------------------------------
d) Price(s) and Price(s) Volume(s)
volume(s)
-------------- ----------------------------- --------------- ---------------
NIL 23,350
------------------------------------------------------------ ---------------
e) Aggregated information 23,350
* Aggregated volume NIL
* Price
-------------- ----------------------------- -----------------------------------
f) Date of the transaction 6 February 2018
-------------- ----------------------------- -----------------------------------
g) Place of the N/A
transaction
-------------- ----------------------------- -----------------------------------
The performance conditions (with a 50% weighting for each)
applicable to the Performance Options as set by the Remuneration
Committee are:
1. Total shareholder return ("TSR") relative to the TSR of
certain selected European airlines. The base measure for TSR will
be the average trading price of shares during the 30 days
immediately before the reference date (25 May 2017), and the
closing measure will be the average trading price of shares during
the 30 days immediately before the third anniversary of the
reference date. At vesting, pay-out is to be 25% of the award for
TSR performance equal to median performance, with a 100% pay-out
for performance equal to, or exceeding, upper quartile performance.
Linear interpolation will apply for performance between the median
and upper quartile; and
2. Absolute growth in underlying, fully-diluted earnings per
share ("EPS"). EPS growth will be measured over the period from 1
April 2017 to 31 March 2020 (FY 2018 to FY 2020 inclusive).
Target EPS growth over the performance period has been set at an
average of 28% per annum (achievement of which will result in 50%
of the award vesting), with the threshold set at 25% per annum
(triggering 25% vesting), and the maximum at 31% per annum
(triggering 100% vesting). Linear interpolation applies for
performance between 25% to 28% and 28% to 31%.
All vested options must be exercised within ten years of the
date of grant. If exercised, then the underlying shares of the
vested options will be issued at nil cost to the option holders. No
amounts have been paid by the relevant PDMRs for the grant of these
options.
This announcement is made pursuant to Article 19 of the EU
Market Abuse Regulation 596/2014.
-End
About Wizz Air
Wizz Air is the largest low-cost airline in Central and Eastern
Europe, operates a fleet of 88 Airbus A320 and Airbus A321
aircraft, and offers more than 550 routes from 28 bases, connecting
145 destinations across 44 countries. At Wizz Air, a team of more
than 3,500 aviation professionals delivers superior service and
very low ticket prices making Wizz Air the preferred choice of 23.8
million passengers in the financial year ended 31 March 2017. Wizz
Air is listed on the London Stock Exchange under the ticker WIZZ
and is included in the FTSE 250 and FTSE All-Share Indices. Wizz
Air is registered under the International Air Transport Association
(IATA), Operational Safety Audit (IOSA), the global benchmark in
airline safety recognition. The company was recently named 2017 -
European Airline of the Year by Aviation 100, a renown annual
publication that recognizes the year's most outstanding performers
in the aerospace industry.
For more information:
+36 70 777
Investors: Balint Veres, Wizz Air: 9349
+36 70 777
Media: Sorina Ratz, Wizz Air: 9304
Edward Bridges / Jonathan Neilan, +44 20 3727
FTI Consulting LLP: 1000
This information is provided by RNS
The company news service from the London Stock Exchange
END
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