REG - Dialight PLC - Director/PDMR Shareholding

DialightAnnouncement

06/03/2019 07:00

RNS Number : 9517R
Dialight PLC
05 March 2019
 


Dialight plc (Company)
 
Director/PDMR Shareholdings
5 March 2019
 
Options and Awards under the Dialight plc 2014 Performance Share Plan (PSP)
 
On 5 March 2019, the under mentioned Directors/Persons Discharging Managerial Responsibility, were granted nil cost options that entitled each of them to receive ordinary shares of 1.89 pence each in the Company in accordance with the rules of the PSP:
 



Name


Number of Options granted under the PSP  


Total number of shares over which incentive awards in the PSP held following notification


% of issued class




Fariyal Khanbabi
(Director)


68,803


196,685


0.604




Richard Allan



12,503


12,503


0.038




Gary Ashburner



10,002


10,002


0.031



 
On 5 March 2019, the under mentioned Directors/Persons Discharging Managerial Responsibility, were granted conditional awards that entitled them to acquire ordinary shares of 1.89 pence each in the Company in accordance with the rules of the PSP:
 



Name


Number of shares awarded under the PSP  


Total number of shares over which incentive awards in the PSP held following notification


% of issued class




Martin Rapp
(Director)


145,011


249,291


0.766




Luis Ramirez



29,425


54,193


0.167




Sri Talpallikar



11,153


11,153


0.034




Rizwan Ahmad



10,291


28,303


0.087




Aziz Rahman



9,966


9,966


0.031




Matt Boudiette



21,215


40,959


0.126




Tim Cillessen



10,530


14,851


0.046



 
Options and awards will normally vest on the third anniversary of grant subject to continued employment. In relation to the awards made to Martin L. Rapp and Fariyal Khanbabi only, the award and options (respectively) are subject to the satisfaction of two performance conditions as set out below.
25% of the option or award is measured against the Company's total shareholder return (TSR) over the three year period relative to the FTSE SmallCap Index (excluding investment trusts) (TSR Performance Condition). The remaining 75% of the option or award is measured against the Company's earnings per share (EPS) in 2021 (EPS Performance Condition).
TSR Performance Condition
No part of an option or award subject to the TSR Performance Condition shall vest if the percentage change in the Company's TSR is below the percentage change in the TSR of the comparator index. 25% of the ordinary shares subject to the TSR Performance Condition will vest if the percentage change in the Company's TSR is equal to the percentage change in the TSR of the comparator index, rising on a straight-line basis, to 100% vesting if the percentage change in the Company's TSR is equal to the change in the TSR of the index plus 10% per annum.
EPS Performance Condition
No part of an option or award subject to the EPS Performance Condition will vest if the Company's 2021 EPS is below 40p, 25% of the ordinary shares subject to the EPS Option/Award will vest if the Company's 2021 EPS reaches 40p, rising on a straight-line basis, to 100% vesting if the Company's 2021 EPS exceeds 60p.
No consideration was paid for the grant of these options and awards and no consideration is due to be paid by the participant on the vesting of these options and awards. On vesting options will be exercisable between 5 March 2022 and 5 March 2024.
Holding Period
A mandatory two-year post-vesting holding period applies to the PSP options/awards granted to Martin L. Rapp and Fariyal Khanbabi.
 
The details of the awards and options are as follows:
 



1.


Details of the person discharging managerial responsibilities/person closely associated




(a)


Name


i.              Martin L. Rapp
ii.            Fariyal Khanbabi
iii.           Richard Allan
iv.            Luis Ramirez
v.             Sri Talpallikar
vi.            Rizwan Ahmad
vii.          Aziz Rahman
viii.         Matt Boudiette
ix.            Gary Ashburner
x.             Tim Cillessen




2.


Reason for the notification




(a)


Position / status


i.              Group Chief Executive
ii.            Group Finance Director
iii.           Group General Counsel
iv.            Chief Operating Officer
v.             VP, Sales and Marketing
vi.            VP, Technology
vii.          VP, Engineering
viii.         VP, Signals / Components / Obstruction / Wind
ix.            VP, Sales - Americas
x.             VP / GM EMEA




(b)


Initial notification / amendment


Initial notification




3.


Details of the issuer




(a)


Name


Dialight plc




(b)


LEI


2138001AD31KKD29Z495




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


Ordinary shares of £0.0189 each




(b)


Identification code of the Financial Instrument


GB0033057794




(c)


Nature of the transaction


Grant of share options/awards under the Dialight plc PSP equity scheme




(d)


Price(s) and volume(s)


Price(s)


Volume(s)












i.              Nil
ii.            Nil
iii.           Nil
iv.            Nil
v.             Nil
vi.            Nil
vii.          Nil
viii.         Nil
ix.            Nil
x.             Nil


i.              145,011
ii.            68,803
iii.           12,503
iv.            29,425
v.             11,153
vi.            10,291
vii.          9,966
viii.         21,215
ix.            10,002
x.             10,530




(e)


Aggregated information
-       Aggregated volume
-       Price


 
328,899 awards and options
Nil




(f)


Date of the transaction


5 March 2019




(g)


Place of the transaction


Outside a trading venue



 
This announcement is made in accordance with Article 19.3 of the Market Abuse Regulation.
 
Richard Allan
General Counsel
Tel: +44 (0) 203 058 3546




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
 
 
DSHUGUUCWUPBPUA