Oxford Instruments Plc - Director/PDMR Shareholding
November 15 2023 - 10:42AM
PR Newswire (US)
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
of shares
|
Vesting
date
|
Exercisable
until
|
|
Buy-out of
LTIP granted on 16 March 2021 by TT Electronics plc
|
27,872
|
16 March
2024
|
15 March
2031
|
|
Buy-out of
LTIP granted on 14 March 2022 by TT Electronics plc
|
30,975
|
14 March
2025
|
13 March
2032
|
|
Oxford
Instruments plc FY24 LTIP award
|
53,023
|
31 July
2026
|
13
November 2033
|
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
notification/Amendment
|
Initial
notification
|
|
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 instrument, type of instrument
Identification
code
|
Options to
acquire ordinary shares of £0.05 each in Oxford Instruments
plc
GB0006650450
|
|
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
-
Volume
-
Price
-
Total
|
111,870
N/A
N/A
|
|
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
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