REG - Jet2 PLC - Grant of Options and Vesting of Deferred Awards

Jet2Announcement

20/07/2022 16:15

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RNS Number : 1909T  Jet2 PLC  20 July 2022

20 July 2022

Jet2 plc

("Jet2", the "Group" or the "Company")

 

Grant of Options under Share Reward Plan

and Vesting of Deferred Awards under Senior Executive Incentive Plan

 

Jet2 plc, the Leisure Travel group, announces that 2,114,466 options have
today been granted under the Jet2 plc Share Reward Plan (the "Plan").

As previously announced, awards under the Plan take the form of options to
acquire the Company's ordinary shares of 1.25p each ("Ordinary Shares") at the
shares' nominal value and which will vest three years following the date of
grant and will lapse ten years from the anniversary of the date of grant.
Recipients must be employed and not be under notice given or received at
vesting and must have worked and contributed throughout the vesting period.

The total number of shares awarded under the Plan in 2022 represents 0.98%;
the Company continues to operate all of its share plans within the 10% in 10
years share plans dilution limit.

Details of the awards to PDMRs under the Plan are as follows:

 Director                                    Number of Options issued under the Plan
 Stephen Heapy, Chief Executive Officer     87,591
 Gary Brown, Group Chief Financial Officer  66,875

 

In addition, on 18 July 2022, Stephen Heapy and Gary Brown subscribed for
18,262 and 17,216 Ordinary Shares at 1.25p per Ordinary Share, respectively,
pursuant to the vesting of a deferred award granted under the Senior Executive
Incentive (Deferred Award) Plan representing the deferred element of the bonus
earned for the financial year ended 31 March 2019.

In order to fund only the income tax, National Insurance liabilities and
administrative fees arising on vesting, Stephen Heapy and Gary Brown
subsequently sold 8,796 and 8,303 Ordinary Shares and retained the balance of
9,466 and 8,913 Ordinary Shares, respectively.

Following these transactions, Mr Heapy beneficially holds a total of 283,096
Ordinary Shares, representing approximately 0.13% of the Company's issued
share capital, and Mr Brown beneficially holds a total of 102,599 Ordinary
Shares, representing approximately 0.05% of the Company's issued share
capital.

The notifications below, made in accordance with the requirements of the UK
version of Regulation (EU) No 596/2014, provide further details.

 

 ( )For further information, please contact:

Jet2 plc                                        Tel:        0113 239 7692

 Philip Meeson, Executive Chairman

 Ian Day, Company Secretary

 Cenkos Securities plc - Nominated Adviser       Tel:        020 7397 8900

 Katy Birkin/Camilla Hume

 Canaccord Genuity - Joint Broker                Tel:        020 7523 8000

 Adam James

 Jefferies International Limited - Joint Broker  Tel:        020 7029 8000

 Ed Matthews

 Buchanan - Financial PR                         Tel:        020 7466 5000

 Richard Oldworth

 

 

 

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING
MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM

 1   Details of the person discharging managerial responsibilities / person closely
     associated
 a)  Name                                                         Stephen Heapy
 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                                                         Jet2 plc
 b)  LEI                                                          I72RQ3PNLDPW8R7JIJ56
 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  Ordinary shares of 1.25p each
     Identification code                                          GB00B1722W11
 b)  Nature of the transaction                                    Grant of options under the Company's Share Reward Plan
 c)  Price(s) and volumes(s)                                      Price(s)                      Volume(s)
     £Nil                                                                                       87,591
 d)  Aggregated information                                       N/A single transaction
     Aggregated volume                                            N/A single transaction
     Price                                                        N/A single transaction
 e)  Date of the transaction                                      20 July 2022
 f)  Place of the transaction                                     Outside of a trading venue

 

 1   Details of the person discharging managerial responsibilities / person closely
     associated
 a)  Name                                                         Gary Brown
 2   Reason for the notification
 a)  Position/status                                              Group 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                                                         Jet2 plc
 b)  LEI                                                          I72RQ3PNLDPW8R7JIJ56
 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  Ordinary shares of 1.25p each
     Identification code                                          GB00B1722W11
 b)  Nature of the transaction                                    Grant of options under the Company's Share Reward Plan
 c)  Price(s) and volumes(s)                                      Price(s)                      Volume(s)
     £Nil                                                                                       66,875
 d)  Aggregated information                                       N/A single transaction
     Aggregated volume                                            N/A single transaction
     Price                                                        N/A single transaction
 e)  Date of the transaction                                      20 July 2022
 f)  Place of the transaction                                     Outside of a trading venue

 

 1   Details of the person discharging managerial responsibilities / person closely
     associated
 a)  Name                                                         Stephen Heapy
 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                                                         Jet2 PLC
 b)  LEI                                                          I72RQ3PNLDPW8R7JIJ56
 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  Ordinary shares of 1.25p each
     Identification code                                          GB00B1722W11
 b)  Nature of the transaction                                    Subscription for shares pursuant to the vesting of a deferred award granted
                                                                  under the Senior Executive Incentive (Deferred Award) Plan representing the
                                                                  deferred element of the bonus earned for the financial year ended 31 March
                                                                  2019
 c)  Price(s) and volumes(s)                                      Price(s)                                 Volume(s)
     £0.0125                                                                                               18,262
 d)  Aggregated information                                       N/A single transaction
     Aggregated volume                                            N/A single transaction
     Price                                                        N/A single transaction
 e)  Date of the transaction                                      18 July 2022
 f)  Place of the transaction                                     XOFF

 

 1   Details of the person discharging managerial responsibilities / person closely
     associated
 a)  Name                                                         Stephen Heapy
 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                                                         Jet2 plc
 b)  LEI                                                          I72RQ3PNLDPW8R7JIJ56
 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  Ordinary shares of 1.25p each
     Identification code                                          GB00B1722W11
 b)  Nature of the transaction                                    Sale of Ordinary Shares received pursuant to the vesting of a deferred award
                                                                  under the Senior Executive Incentive (Deferred Award) Plan to fund only the
                                                                  income tax and National Insurance liabilities and administrative fees arising
                                                                  on vesting. The balance of 9,466 Ordinary Shares has been retained.
 c)  Price(s) and volumes(s)                                      Price(s)                                  Volume(s)
     £9.048                                                                                                 8,796
 d)  Aggregated information                                       N/A single transaction
     Aggregated volume                                            N/A single transaction
     Price                                                        N/A single transaction
 e)  Date of the transaction                                      20 July 2022
 f)  Place of the transaction                                     XOFF

 

 

 1   Details of the person discharging managerial responsibilities / person closely
     associated
 a)  Name                                                         Gary Brown
 2   Reason for the notification
 a)  Position/status                                              Group 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                                                         Jet2 plc
 b)  LEI                                                          I72RQ3PNLDPW8R7JIJ56
 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  Ordinary shares of 1.25p each
     Identification code                                          GB00B1722W11
 b)  Nature of the transaction                                    Subscription for shares pursuant to the vesting of a deferred award granted
                                                                  under the Senior Executive Incentive (Deferred Award) Plan representing the
                                                                  deferred element of the bonus earned for the financial year ended 31 March
                                                                  2019
 c)  Price(s) and volumes(s)                                      Price(s)                                 Volume(s)
     £0.0125                                                                                               17,216
 d)  Aggregated information                                       N/A single transaction
     Aggregated volume                                            N/A single transaction
     Price                                                        N/A single transaction
 e)  Date of the transaction                                      18 July 2022
 f)  Place of the transaction                                     XOFF

 

 1   Details of the person discharging managerial responsibilities / person closely
     associated
 a)  Name                                                         Gary Brown
 2   Reason for the notification
 a)  Position/status                                              Group 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                                                         Jet2 plc
 b)  LEI                                                          I72RQ3PNLDPW8R7JIJ56
 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  Ordinary shares of 1.25p each
     Identification code                                          GB00B1722W11
 b)  Nature of the transaction                                    Sale of Ordinary Shares received pursuant to the vesting of a deferred award
                                                                  under the Senior Executive Incentive (Deferred Award) Plan to fund only the
                                                                  income tax and National Insurance liabilities and administrative fees arising
                                                                  on vesting. The balance of 8,913 Ordinary Shares has been retained.
 c)  Price(s) and volumes(s)                                      Price(s)                                  Volume(s)
     £9.037                                                                                                 8,303
 d)  Aggregated information                                       N/A single transaction
     Aggregated volume                                            N/A single transaction
     Price                                                        N/A single transaction
 e)  Date of the transaction                                      19 July 2022
 f)  Place of the transaction                                     XOFF

 

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