TIDMWIZZ
RNS Number : 9618A
Wizz Air Holdings PLC
03 June 2019
Wizz Air Holdings Plc
Wizz Air Long Term Incentive Plan ("LTIP") award grants
Geneva, 3 June 2019 - 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
number of persons discharging management responsibilities
("PDMRs").
On 30 May 2019, following approval by the Company's Remuneration
Committee, Wizz Air made a grant of options under the LTIP over
203,103 ordinary shares in the capital of Wizz Air of GBP0.0001 par
value (identification code JE00BN574F90) ("Awards") to PDMRs as set
out below.
The following PDMRs were granted Awards of Performance
Options:
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 Initial notification
/ 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 46,796
----------------------------------------------------------------------- -----------------
e) Aggregated information 46,796
* Aggregated volume NIL
* Price
------------------------------------- ----------------------------------------
f) Date of the transaction 30 May 2019
------------------------------------- ----------------------------------------
g) Place of the transaction N/A
------------------------------------- ----------------------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Diederik Pen
------------------------------------- ----------------------------------------
2. Reason for the notification
-------------------------------------------------------------------------------
a) Position / status Executive Vice President & Group
Chief Operations Officer
------------------------------------- ----------------------------------------
b) Initial notification Initial notification
/ 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 30,300
----------------------------------------------------------------------- -----------------
e) Aggregated information 30,300
* Aggregated volume NIL
* Price
------------------------------------- ----------------------------------------
f) Date of the transaction 30 May 2019
------------------------------------- ----------------------------------------
g) 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 Chief People & Marketing Officer
------------------------------------- ----------------------------------------
b) Initial notification Initial notification
/ 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 17,600
----------------------------------------------------------------------- -----------------
e) Aggregated information 17,600
* Aggregated volume NIL
* Price
------------------------------------- ----------------------------------------
f) Date of the transaction 30 May 2019
------------------------------------- ----------------------------------------
g) 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 Managing Director WUK
------------------------------------- ----------------------------------------
b) Initial notification Initial notification
/ 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 17,600
----------------------------------------------------------------------- -----------------
e) Aggregated information 17,600
* Aggregated volume NIL
* Price
------------------------------------- ----------------------------------------
f) Date of the transaction 30 May 2019
------------------------------------- ----------------------------------------
g) Place of the transaction N/A
------------------------------------- ----------------------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name George Michalopoulos
------------------------------------- ----------------------------------------
2. Reason for the notification
-------------------------------------------------------------------------------
a) Position / status Chief Commercial Officer
------------------------------------- ----------------------------------------
b) Initial notification Initial notification
/ 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 17,600
----------------------------------------------------------------------- -----------------
e) Aggregated information 17,600
* Aggregated volume NIL
* Price
------------------------------------- ----------------------------------------
f) Date of the transaction 30 May 2019
------------------------------------- ----------------------------------------
g) 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 Chief Corporate Officer
------------------------------------- ----------------------------------------
b) Initial notification Initial notification
/ 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 Shares
------------------------------------- ----------------------------------------
c) Currency British Pounds
------------------------------------- ----------------------------------------
d) Price(s) and volume(s) Price(s) Volume(s)
------------------------------------- ------------------ -----------------
NIL 17,600
----------------------------------------------------------------------- -----------------
e) Aggregated information 17,600
* Aggregated volume NIL
* Price
------------------------------------- ----------------------------------------
f) Date of the transaction 30 May 2019
------------------------------------- ----------------------------------------
g) Place of the transaction N/A
------------------------------------- ----------------------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Heiko Holm
------------------------------------- ----------------------------------------
2. Reason for the notification
-------------------------------------------------------------------------------
a) Position / status Chief Operations Officer
------------------------------------- ----------------------------------------
b) Initial notification Initial notification
/ 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 Shares
------------------------------------- ----------------------------------------
c) Currency British Pounds
------------------------------------- ----------------------------------------
d) Price(s) and volume(s) Price(s) Volume(s)
------------------------------------- ------------------ -----------------
NIL 17,600
----------------------------------------------------------------------- -----------------
e) Aggregated information 17,600
* Aggregated volume NIL
* Price
------------------------------------- ----------------------------------------
f) Date of the transaction 30 May 2019
------------------------------------- ----------------------------------------
g) Place of the transaction N/A
------------------------------------- ----------------------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Iain Wetherall
------------------------------------- ----------------------------------------
2. Reason for the notification
-------------------------------------------------------------------------------
a) Position / status Chief Financial Officer
------------------------------------- ----------------------------------------
b) Initial notification Initial notification
/ 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 Shares
------------------------------------- ----------------------------------------
c) Currency British Pounds
------------------------------------- ----------------------------------------
d) Price(s) and volume(s) Price(s) Volume(s)
------------------------------------- ------------------ -----------------
NIL 17,600
----------------------------------------------------------------------- -----------------
e) Aggregated information 17,600
* Aggregated volume NIL
* Price
------------------------------------- ----------------------------------------
f) Date of the transaction 30 May 2019
------------------------------------- ----------------------------------------
g) Place of the transaction N/A
------------------------------------- ----------------------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Stephen Jones
------------------------------------- ----------------------------------------
2. Reason for the notification
-------------------------------------------------------------------------------
a) Position / status Deputy CEO and Managing Director
WAH
------------------------------------- ----------------------------------------
b) Initial notification Initial notification
/ 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 Shares
------------------------------------- ----------------------------------------
c) Currency British Pounds
------------------------------------- ----------------------------------------
d) Price(s) and volume(s) Price(s) Volume(s)
------------------------------------- ------------------ -----------------
NIL 30,300
----------------------------------------------------------------------- -----------------
e) Aggregated information 30,300
* Aggregated volume NIL
* Price
------------------------------------- ----------------------------------------
f) Date of the transaction 30 May 2019
------------------------------------- ----------------------------------------
g) 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 Initial notification
/ 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 17,600
------------------------------------------------------------- -----------------
e) Aggregated information 17,600
* Aggregated volume NIL
* Price
------------------------------------- ----------------------------------------
f) Date of the transaction 30 May 2019
------------------------------------- ----------------------------------------
g) Place of the transaction N/A
------------------------------------- ----------------------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name András Seb k
------------------------------------- ----------------------------------------
2. Reason for the notification
-------------------------------------------------------------------------------
a) Position / status Chief Supply Chain Officer
------------------------------------- ----------------------------------------
b) Initial notification Initial notification
/ 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 17,600
------------------------------------------------------------- -----------------
e) Aggregated information 17,600
* Aggregated volume NIL
* Price
------------------------------------- ----------------------------------------
f) Date of the transaction 30 May 2019
------------------------------------- ----------------------------------------
g) Place of the transaction N/A
------------------------------------- ----------------------------------------
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 (30 May 2019), 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 2019 to 31 March 2022 (FY 2020 to FY 2022 inclusive).
Target EPS growth over the performance period has been set at an
average of 19.5% per annum (achievement of which will result in 50%
of the award vesting), with the threshold set at 12% per annum
(triggering 25% vesting), and the maximum at 27% per annum
(triggering 100% vesting). Linear interpolation applies for
performance between threshold and maximum.
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 113 Airbus A320 and Airbus A321
aircraft, and offers more than 650 routes from 25 bases, connecting
146 destinations across 44 countries. At Wizz Air, a team of more
than 4,500 aviation professionals delivers superior service and
very low ticket prices making Wizz Air the preferred choice of over
34 million passengers in the past 12 months. 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 recently received the highest
7-star safety rating by airlineratings.com, the world's only safety
and product rating agency, and was recently named 2017 - European
Airline of the Year by Aviation 100, a renowned annual publication
that recognizes the year's most outstanding performers in the
aerospace industry.
For more information:
Investors: Evelin Horvath, Wizz Air +41 22 555 9863
Media: Tamara Vallois, Wizz Air: +36 1 777 9324
Edward Bridges / Jonathan Neilan, FTI Consulting
LLP: +44 20 3727 1017
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
DSHLLFVLRDIVIIA
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June 03, 2019 07:41 ET (11:41 GMT)
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