Oxford Instruments Plc Director/PDMR Shareholding
November 15 2023 - 10:42AM
UK Regulatory
TIDMOXIG
15 November 2023
Oxford Instruments plc (the "Company")
Director/PDMR shareholding
Notification and public disclosure of transactions by persons discharging
managerial responsibilities and persons closely associated with them
As announced on 27 July 2023, Richard Tyson joined Oxford Instruments plc on 1
October 2023 as Chief Executive. On 14 November 2023 Richard was granted three
awards of nominally priced options over ordinary shares of £0.05, under the
Oxford Instruments plc Long Term Incentive Plan (the "LTIP"), as set out below.
These awards comprise the buy-out arrangements which replace Richard's 2021,
2022 and 2023 LTIP awards from his previous employer, TT Electronics plc, which
lapsed in connection with his joining the Company.
+-----------------------------+------+-------------+-----------------+
|Award |Number|Vesting date |Exercisable until|
| |of | | |
| |shares| | |
+-----------------------------+------+-------------+-----------------+
|Buy-out of LTIP granted on 16|27,872|16 March 2024|15 March 2031 |
|March 2021 by TT Electronics | | | |
|plc | | | |
+-----------------------------+------+-------------+-----------------+
|Buy-out of LTIP granted on 14|30,975|14 March 2025|13 March 2032 |
|March 2022 by TT Electronics | | | |
|plc | | | |
+-----------------------------+------+-------------+-----------------+
|Oxford Instruments plc FY24 |53,023|31 July 2026 |13 November 2033 |
|LTIP award | | | |
+-----------------------------+------+-------------+-----------------+
The awards will ordinarily vest and become exercisable as set out above, subject
to the grantee's continued service and to the extent to which the performance
conditions are met. The buy-out awards will vest based on the achievement of the
original TT Electronics plc performance targets. The Oxford Instruments plc FY24
LTIP award will vest based on the achievement of the performance conditions
which can be found in the Directors' Remuneration Report in the Company's 2023
Annual Report. A two-year post-vesting holding period applies to all awards.
Dividend equivalents will also be awarded and will accrue for the period from
grant to vest and for the holding period (two years after the awards vest). No
consideration was paid upon the grants of the awards and consideration of £0.05
per share is due upon the exercise of the awards. The awards were based on an
Oxford Instruments plc share price of £21.50.
Full details of the awards, including performance conditions, will be provided
in the Directors' Remuneration Report within the Company's 2024 Annual Report.
The Company makes this announcement, including the notification below, in
accordance with the requirements of the EU Market Abuse Regulation (as it forms
part of domestic law by virtue of the European Union (Withdrawal) Act 2018).
+--+----------------------------+-------------------------------------------+
|1 |Details of the person |
| |discharging managerial |
| |responsibilities/person |
| |closely associated |
+--+----------------------------+-------------------------------------------+
|a)|Name |Richard Tyson |
+--+----------------------------+-------------------------------------------+
|2 |Reason for the notification |
+--+----------------------------+-------------------------------------------+
|a)|Position/status |Chief Executive and PDMR |
+--+----------------------------+-------------------------------------------+
|b)|Initial |Initial notification |
| |notification/Amendment | |
+--+----------------------------+-------------------------------------------+
|3 |Details of the issuer, |
| |emission allowance market |
| |participant, auction |
| |platform, auctioneer or |
| |auction monitor |
+--+----------------------------+-------------------------------------------+
|a)|Name |Oxford Instruments plc |
+--+----------------------------+-------------------------------------------+
|b)|LEI |213800J364EZD6UCE231 |
+--+----------------------------+-------------------------------------------+
|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 financial|Options to acquire ordinary shares of £0.05|
| |instrument, type of |each in Oxford Instruments plc |
| |instrument | |
| | |GB0006650450 |
| |Identification code | |
+--+----------------------------+-------------------------------------------+
|b)|Nature of the transaction |Awards of nominally priced options of £0.05|
| | |under the Oxford Instruments plc Long Term |
| | |Incentive Plan. |
+--+----------------------------+-------------------------------------------+
|c)|Price(s) and volume(s) | |
| | |+--------+---------+ |
| | ||Price(s)|Volume(s)| |
| | |+--------+---------+ |
| | ||N/A |27,872 | |
| | |+--------+---------+ |
| | ||N/A |30,975 | |
| | |+--------+---------+ |
| | ||N/A |53,023 | |
| | |+--------+---------+ |
+--+----------------------------+-------------------------------------------+
|d)|Aggregated information |111,870 |
| | | |
| |- Volume |N/A |
| | | |
| |- Price |N/A |
| | | |
| |- Total | |
+--+----------------------------+-------------------------------------------+
|e)|Date of the transaction |14 November 2023 |
+--+----------------------------+-------------------------------------------+
|f)|Place of the transaction |Outside of a trading venue |
+--+----------------------------+-------------------------------------------+
Enquiries:
Sarah Harvey
Company Secretary
sarah.harvey@oxinst.com
This information was brought to you by Cision http://news.cision.com
END
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