Wizz Air Holdings PLC Wizz Air Omnibus Plan award grants (5900R)
27 October 2023 - 11:48PM
UK Regulatory
TIDMWIZZ
RNS Number : 5900R
Wizz Air Holdings PLC
27 October 2023
Wizz Air Holdings Plc
Wizz Air Omnibus Plan award grants
Geneva, 27 October 2023 - Wizz Air Holdings Plc ("Wizz Air" or
the "Company"), the fastest-growing European airline, announces the
amendment of awards under the Omnibus Share Plan ("Omnibus Plan")
to two persons discharging management responsibilities
("PDMRs").
On 21 September 2023, following approval by the Company's
remuneration committee, Wizz Air made the following amendments to
two awards granted on 8 July 2022 under the Omnibus Plan as Senior
Leadership Growth Plan awards ("SLGP Awards") :
-- Reducing the number of ordinary shares under each SLGP Award
by 2,677 (which had been incorrectly granted due to a clerical
error), meaning the total number of shares under award for each
PDMR was 19,007; and
-- A change in the vesting date from 40% vesting on 8 July 2027,
20% on 8 July in each of 2028, 2029 and 2030 to 40% vesting on 6
August 2028, 20% on 6 August in each of 2029, 2030 and 2031.
The following PDMRs were affected by the amendment of the SLGP
Awards:
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name
Roland Tischner
------------------------------------- ------------------------------------------
2. Reason for the notification
---------------------------------------------------------------------------------
a) Position / status Officer Wizz Air Hungary Operations
------------------------------------- ------------------------------------------
b) Initial notification Amendment
/ amendment
------------------------------------- ------------------------------------------
3. Details of the issuer
---------------------------------------------------------------------------------
a) Name Wizz Air Holdings Plc
------------------------------------- ------------------------------------------
b) Legal entity identifier 213800COXGZCORLJZA85
------------------------------------- ------------------------------------------
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 the Ordinary shares of GBP0.0001 each
financial instrument,
type of instrument
Identification code JE00BN574F90
------------------------------------- ------------------------------------------
b) Nature of the transaction Grant of Performance Options
------------------------------------- ------------------------------------------
c) Currency British Pounds
------------------------------------- ------------------------------------------
d) Price(s) and volume(s) Price(s) Volume(s)
------------------------------------- ------------------- ------------------
NIL 19,007
-------------------------------------------------------------- ------------------
e) Aggregated information
* Aggregated volume 19,007
NIL
* Price
------------------------------------- ------------------------------------------
f) Date of the transaction 8 July 2022
------------------------------------- ------------------------------------------
g) Date of the amendment 21 September 2023
------------------------------------- ------------------------------------------
h) Place of the transaction N/A
------------------------------------- ------------------------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name
Yvonne Moynihan
------------------------------------- ----------------------------------------
2. Reason for the notification
-------------------------------------------------------------------------------
a) Position / status Corporate Officer
------------------------------------- ----------------------------------------
b) Initial notification Amendment
/ amendment
------------------------------------- ----------------------------------------
3. Details of the issuer
-------------------------------------------------------------------------------
a) Name Wizz Air Holdings Plc
------------------------------------- ----------------------------------------
b) Legal entity identifier 213800COXGZCORLJZA85
------------------------------------- ----------------------------------------
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 the Ordinary shares of GBP0.0001 each
financial instrument,
type of instrument
Identification code JE00BN574F90
------------------------------------- ----------------------------------------
b) Nature of the transaction Grant of Performance Options
------------------------------------- ----------------------------------------
c) Currency British Pounds
------------------------------------- ----------------------------------------
d) Price(s) and volume(s) Price(s) Volume(s)
------------------------------------- ------------------ -----------------
NIL 19,007
------------------------------------------------------------- -----------------
e) Aggregated information
* Aggregated volume 19,007
NIL
* Price
------------------------------------- ----------------------------------------
f) Date of the transaction 8 July 2022
------------------------------------- ----------------------------------------
g) Date of the amendment 21 September 2023
------------------------------------- ----------------------------------------
h) Place of the transaction N/A
------------------------------------- ----------------------------------------
The SLGP Awards, which are one-off awards, will be subject to
the following performance conditions:
100% of an SLGP Award will vest if the Company's share price is
GBP119.34 (the "Share Price Target") at the end of the Performance
Period [1] . The threshold for an SLGP Award to vest is a Company
share price ofGBP77.24 under which 0% of the SLGP Award vests with
straight line vesting in between these two points. If prior to the
end of the Performance Period, the Share Price Target is met or
exceeded over any two consecutive quarters, based on the VWAP over
that period, then, subject to the Omnibus Plan rues, the SLGP Award
will vest in full on the normal vesting date.
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.
ABOUT WIZZ AIR
Wizz Air, the fastest growing European ultra-low-cost airline, operates
a fleet of 187 Airbus A320 and A321 aircraft. A team of dedicated aviation
professionals delivers superior service and very low fares, making Wizz
Air the preferred choice of 51.1 million passengers in the financial year
F23 ending 31 March 2023. Wizz Air is listed on the London Stock Exchange
under the ticker WIZZ. The company was recently named one of the world's
top ten safest airlines by airlineratings.com , the world's only safety
and product rating agency, and named Airline of the Year by Air Transport
Awards in 2019 and in 2023. Wizz Air has also been recognised as the "Most
Sustainable Low-Cost Airline" within the World Finance Sustainability
Awards in 2021-2023 and the "Global Environmental Sustainability Airline
Group of the Year" by the CAPA-Centre for Aviation Awards for Excellence
2022.
- Ends - For more information:
Investors: Zlatko Custovic, Wizz Air +36 1 777 9407
Tamara Vallois, Wizz Air +36 1 777 9324
James McFarlane / Eleni Menikou / Charles +44 (0) 20 3128
Media: Hirst, MHP Group: 8100
-End-
[1] "Performance Period" means the seven consecutive financial
years of which the first is the financial year ending 31 March
2022.
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