TIDMWIZZ
RNS Number : 5909R
Wizz Air Holdings PLC
27 October 2023
Wizz Air Holdings Plc
Wizz Air VCP and Omnibus Plan awards amendment
Geneva, 27 October 2023 - Wizz Air Holdings Plc ("Wizz Air" or
the "Company"), the fastest-growing European airline, announces the
amendment of the vesting date for the awards granted to date under
Value Creation Plan ("VCP") and the Omnibus Share Plan ("Omnibus
Plan") to a number of persons discharging management
responsibilities ("PDMRs").
VCP
On 2 August 2023, following approval by the Company's
remuneration committee and shareholders, Wizz Air amended the
vesting date of the VCP award granted on 6 August 2021 ("VCP
Award") from 40% vesting on 6 August 2026, 20% on 6 August in each
of 2027, 2028 and 2029 to 40% vesting on 6 August 2028, 20% on 6
August in each of 2029, 2030 and 2031. The number of ordinary
shares originally granted on 6 August 2021 remains unchanged:
837,943 ordinary shares i n the capital of Wizz Air of GBP0.0001
par value (identification code JE00BN574F90).
The following PDMR was affected by the amendment of the VCP
Award:
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name József Váradi
------------------------------------- ----------------------------------------
2. Reason for the notification
-------------------------------------------------------------------------------
a) Position / status Chief Executive 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 837,943
------------------------------------------------------------- -----------------
e) Aggregated information
* Aggregated volume 837,943
NIL
* Price
------------------------------------- ----------------------------------------
f) Date of the transaction
6 August 2021
------------------------------------- ----------------------------------------
g) Date of the amendment 2 August 2023
------------------------------------- ----------------------------------------
h) Place of the transaction N/A
------------------------------------- ----------------------------------------
In relation to VCP Award, the award will be subject to the
following performance conditions:
a) 90% of the VCP Award will vest subject to the Company's share
price reaching GBP119.34 (the "Share Price Target") at the end of
the Performance Period [1] . The threshold for the VCP Award to
vest is a Company share price of GBP77.24, under which 0% of the
VCP 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 VCP rules,
90% of the VCP Award will vest in full on the normal vesting
date.
b) 10% of the VCP Award is linked to environmental, social and
governance ("ESG") criteria and will vest at end of the ESG
Performance Period [2] based on achievement of ESG targets, (5%
based on CO2 emissions reduction goals; and 5% based on gender
diversity target). ESG criteria are independent of share price
growth criteria.
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.
SLGP
On 21 September 2023, following approval by the Company's
remuneration committee, Wizz Air amended the vesting date of Senior
Leadership Growth Plan awards under the Omnibus Plan ("SLGP
Awards"):
-- granted on 6 August 2021 from 40% vesting on 6 August 2026,
20% on 6 August in each of 2027, 2028 and 2029 to 40% vesting on 6
August 2028, 20% on 6 August in each of 2029, 2030 and 2031.
-- granted on 14 November 2022 from 40% vesting on 30 September
2027, 20% on 30 September 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 Company amended the SLGP Awards so that the terms set out in
the Omnibus Plan rules as amended by Shareholders now apply to the
SLGP Awards. The number of ordinary shares originally granted on 6
August 2021 remains unchanged: 356,386 ordinary shares i n the
capital of Wizz Air of GBP0.0001 par value (identification code
JE00BN574F90). The number of ordinary shares originally granted on
14 November 2022 remains unchanged: 28,510 ordinary shares in the
capital of Wizz Air of GBP0.0001 par value (identification code
JE00BN574F90).
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 Robert Carey
------------------------------------- ----------------------------------------
2. Reason for the notification
-------------------------------------------------------------------------------
a) Position / status President
------------------------------------- ----------------------------------------
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 42,766
------------------------------------------------------------- -----------------
e) Aggregated information
* Aggregated volume 42,766
NIL
* Price
------------------------------------- ----------------------------------------
f) Date of the transaction 6 August 2021
------------------------------------- ----------------------------------------
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
Michael Delehant
------------------------------------- ----------------------------------------
2. Reason for the notification
-------------------------------------------------------------------------------
a) Position / status Executive Vice President & Group
Chief Operations 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 42,766
------------------------------------------------------------- -----------------
e) Aggregated information
* Aggregated volume 42,766
NIL
* Price
------------------------------------- ----------------------------------------
f) Date of the transaction 6 August 2021
------------------------------------- ----------------------------------------
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 Marion Geoffroy
------------------------------------- ----------------------------------------
2. Reason for the notification
-------------------------------------------------------------------------------
a) Position / status Managing Director Wizz Air UK
------------------------------------- ----------------------------------------
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 28,511
------------------------------------------------------------- -----------------
e) Aggregated information
* Aggregated volume 28,511
NIL
* Price
------------------------------------- ----------------------------------------
f) Date of the transaction 6 August 2021
------------------------------------- ----------------------------------------
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
Johan Eidhagen
------------------------------------- -------------------------------------------
2. Reason for the notification
----------------------------------------------------------------------------------
a) Position / status Managing Director Wizz Air Abu Dhabi
------------------------------------- -------------------------------------------
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 28,511
--------------------------------------------------------------- ------------------
e) Aggregated information
* Aggregated volume 28,511
NIL
* Price
------------------------------------- -------------------------------------------
f) Date of the transaction 6 August 2021
------------------------------------- -------------------------------------------
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
Joel Goldberg
------------------------------------- ----------------------------------------
2. Reason for the notification
-------------------------------------------------------------------------------
a) Position / status
Chief Digital 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 28,511
------------------------------------------------------------- -----------------
e) Aggregated information
* Aggregated volume 28,511
NIL
* Price
------------------------------------- ----------------------------------------
f) Date of the transaction 6 August 2021
------------------------------------- ----------------------------------------
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
Owain Jones
------------------------------------- ----------------------------------------
2. Reason for the notification
-------------------------------------------------------------------------------
a) Position / status Executive Vice President & Group
Chief Corporate Affairs 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 28,511
------------------------------------------------------------- -----------------
e) Aggregated information
* Aggregated volume 28,511
NIL
* Price
------------------------------------- ----------------------------------------
f) Date of the transaction 6 August 2021
------------------------------------- ----------------------------------------
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 Zsuzsanna Poós
------------------------------------- --------------------------------------------
2. Reason for the notification
-----------------------------------------------------------------------------------
a) Position / status
Chief Customer and Marketing 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 28,511
--------------------------------------------------------------- -------------------
e) Aggregated information
* Aggregated volume 28,511
NIL
* Price
------------------------------------- --------------------------------------------
f) Date of the transaction 6 August 2021
------------------------------------- --------------------------------------------
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 Ian Ogden Malin
------------------------------------- ----------------------------------------
2. Reason for the notification
-------------------------------------------------------------------------------
a) Position / status Executive Vice President & Group
Chief Financial 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 28,510
------------------------------------------------------------- -----------------
e) Aggregated information
* Aggregated volume 28,510
NIL
* Price
------------------------------------- ----------------------------------------
f) Date of the transaction 14 November 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 [3] . The threshold for an SLGP Award to vest is a Company
share price of GBP77.24, 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 rules, the 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.
[2] "ESG Performance Period" means the five consecutive years of
which the first is the financial year in which the grant date
falls;
[3] "Performance Period" means the seven consecutive financial
years of which the first is the financial year ending 31 March
2022.
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END
DSHFEDFEWEDSEIS
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October 27, 2023 08:55 ET (12:55 GMT)
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