REG - Focusrite PLC - Grant of Share Options to Directors
RNS Number : 7391YFocusrite PLC03 January 2020Focusrite plc
("the Company" or "the Group")
Directors' Dealings
Grant of Share Options to Directors
Focusrite plc (AIM:TUNE), the global music and audio products company that trades under the Focusrite and Novation brands, announces that on 23 December 2019 it granted nominal cost options over ordinary shares of 0.1p each in the capital of the Company under the Company's Performance Share Plan to certain 'persons discharging managerial responsibilities' of the Company ("PDMRs") as listed below.
PDMR
No. of shares under option
Tim Carroll
47,263
Jeremy Wilson
35,655
Damian Hawley
12,520
Tim Dingley
11,691
Giles Orford
9,151
Simon Holt
9,394
The options will ordinarily vest on the third anniversary of the grant date, subject to the Remuneration Committee's determination of the extent to which the performance condition applicable to the award has been satisfied and to the individual's ongoing employment with the Company's group.
The performance condition measures compound annual growth in the Company's adjusted earnings per share over the period from 1 September 2019 to 31 August 2022. Fuller details of the performance condition shall be set out in the Company's Directors' Remuneration Report for the year ending 31 August 2020.
Once vested, options shall remain exercisable until the tenth anniversary of the grant date.
The information set out below is provided in accordance with the requirements of Article 19(3) of the Market Abuse Regulation (EU) No 596/2014.
1
Details of the persons discharging managerial responsibilities I person closely associated
a)
Name
Tim Carroll
2
Reason for the notification
a)
Position/status
Chief Executive Officer
b)
Initial notification /Amendment
Initial notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Focusrite plc
b)
LEI
213800JJ51KA4LOTF736
4
Details of the transaction(s): section to be repeated
for (i) each type ofinstrument; (ii) each type of transaction; (iii) each date; and
(iv) each placewhere transactions have been conducteda)
Description of the financial instrument, type of instrument
Ordinary Shares of 0.1p each in Focusrite plc
Identification code
GB00BSBMW716
b)
Nature of the transaction
Grant of a nominal cost option under the Focusrite plc Performance Share Plan.
c)
Price(s) and volume(s)
Price(s)
Volumes
Nil
47,263
d)
Aggregated information
- Aggregated volume
- Price
Not applicable - single transaction
e)
Date of the transaction
23 December 2019
f)
Place of the transaction
Outside a trading venue
1
Details of the persons discharging managerial responsibilities I person closely associated
a)
Name
Jeremy Wilson
2
Reason for the notification
a)
Position/status
Chief Financial Officer
b)
Initial notification /Amendment
Initial notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Focusrite plc
b)
LEI
213800JJ51KA4LOTF736
4
Details of the transaction(s): section to be repeated for (i) each type ofinstrument; (ii) each type of transaction; (iii) each date; and
(iv) each placewhere transactions have been conducteda)
Description of the financial instrument, type of instrument
Ordinary Shares of 0.1p each in Focusrite plc
Identification code
GB00BSBMW716
b)
Nature of the transaction
Grant of a nominal cost option under the Focusrite plc Performance Share Plan.
c)
Price(s) and volume(s)
Exercise Prices per share
Volumes
Nil
35,655
d)
Aggregated information
- Aggregated volume
- Price
Not applicable - single transaction
e)
Date of the transaction
23 December 2019
f)
Place of the transaction
Outside a trading venue
1
Details of the persons discharging managerial responsibilities I person closely associated
a)
Name
Damian Hawley
2
Reason for the notification
a)
Position/status
Chief Revenue Officer
b)
Initial notification /Amendment
Initial notification
3
Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitora)
Name
Focusrite plc
b)
Legal Entity Identifier
213800JJ51KA4LOTF736
4
Details of the transaction(s): section to be repeated for (i) each type ofinstrument; (ii) each type of transaction; (iii) each date; and
(iv) each placewhere transactions have been conducteda)
Description of the financial instrument, type of instrument
Ordinary Shares of 0.1p each in Focusrite plc
Identification code
GB00BSBMW716
b)
Nature of the transaction
Grant of a nominal cost option under the Focusrite plc
Performance Share Plan.c)
Price(s) and volume(s)
Price(s)
Volumes
Nil
12,520
d)
Aggregated information
- Aggregated volume
- Price
Not applicable - single transaction
e)
Date of the transaction
23 December 2019
f)
Place of the transaction
Outside a trading venue
1
Details of the persons discharging managerial responsibilities I person closely associated
a)
Name
Tim Dingley
2
Reason for the notification
a)
Position/status
Chief Operating Officer
b)
Initial notification /Amendment
Initial notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Focusrite plc
b)
Legal Entity Identifier
213800JJ51KA4LOTF736
4
Details of the transaction(s): section to be repeated for (i) each type ofinstrument; (ii) each type of transaction; (iii) each date; and
(iv) each placewhere transactions have been conducteda)
Description of the financial instrument, type of instrument
Ordinary Shares of 0.1p each in Focusrite plc
Identification code
GB00BSBMW716
b)
Nature of the transaction
Grant of a nominal cost option under the Focusrite plc Performance Share Plan.
c)
Price(s) and volume(s)
Price(s)
Volumes
Nil
11,691
d)
Aggregated information
- Aggregated volume
- Price
Not applicable - single transaction
e)
Date of the transaction
23 December 2019
f)
Place of the transaction
Outside a trading venue
1
Details of the persons discharging managerial responsibilities I person closely associated
a)
Name
Giles Orford
2
Reason for the notification
a)
Position/status
Brand Director
b)
Initial notification /Amendment
Initial notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Focusrite plc
b)
Legal Entity Identifier
213800JJ51KA4LOTF736
4
Details of the transaction(s): section to be repeated for (i) each type ofinstrument; (ii) each type of transaction; (iii) each date; and
(iv) each placewhere transactions have been conducteda)
Description of the financial instrument, type of instrument
Ordinary Shares of 0.1p each in Focusrite plc
Identification code
GB00BSBMW716
b)
Nature of the transaction
Grant of a nominal cost option under the Focusrite plc Performance Share Plan.
c)
Price(s) and volume(s)
Price(s)
Volumes
Nil
9,151
d)
Aggregated information
- Aggregated volume
- Price
Not applicable - single transaction
e)
Date of the transaction
23 December 2019
f)
Place of the transaction
Outside a trading venue
1
Details of the persons discharging managerial responsibilities I person closely associated
a)
Name
Simon Holt
2
Reason for the notification
a)
Position/status
Engineering Director
b)
Initial notification /Amendment
Initial notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Focusrite plc
b)
Legal Entity Identifier
213800JJ51KA4LOTF736
4
Details of the transaction(s): section to be repeated for (i) each type ofinstrument; (ii) each type of transaction; (iii) each date; and
(iv) each placewhere transactions have been conducteda)
Description of the financial instrument, type of instrument
Ordinary Shares of 0.1p each in Focusrite plc
Identification code
GB00BSBMW716
b)
Nature of the transaction
Grant of a nominal cost option under the Focusrite plc Performance Share Plan.
c)
Price(s) and volume(s)
Price(s)
Volumes
Nil
9,394
d)
Aggregated information
- Aggregated volume
- Price
Not applicable - single transaction
e)
Date of the transaction
23 December 2019
f)
Place of the transaction
Outside a trading venue
-ends-
Enquiries:
Focusrite plc: +44 1494 836301
Tim Carroll (CEO)
Jeremy Wilson (CFO)
Panmure Gordon (Nominated Adviser and Broker) +44 20 7886 2500
Freddy Crossley / Alina Vaskina
Erik Anderson
Belvedere Communications +44 20 3687 2756
John West
Llew Angus
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