REG - On the Beach Group - PDMR LTIP AWARDS

On Beach groupAnnouncement

10/02/2021 10:05

RNS Number : 6155O
  
On the Beach Group PLC
  
10 February 2021
  
 

10 February 2021
 
On the Beach Group plc 
("On the Beach" or the "Group")
 
PDMR LTIP AWARDS
 
The notifications below are all in accordance with the requirements of Article 19 (3) of the EU Market Abuse Regulation 596/2014 and the dealings were in respect of ordinary shares of 1 pence each in the share capital of On the Beach Group plc.
 
On 5 February 2021, awards over shares (the "Awards") were made under the On the Beach Group plc Long Term Incentive Plan (the "Plan"), consequently, the share interests of the under-noted directors and persons discharging managerial responsibility have changed following the making of the Awards.
 
The Awards, made for nil consideration, are nil-cost options established in accordance with the rules of the Plan and vesting is subject to adjusted earnings per share ("EPS") (70% of each Award) and total shareholder return ("TSR") targets (30% of each Award)), measured over the final financial year of the performance period ending 30 September 2023 and over the three year period commencing on the date of grant respectively. 
 



Director/PDMR


Role


Number of shares over which Awards made




Simon Cooper


Chief Executive Officer


84,861




Shaun Morton


Chief Financial Officer


204,918




Adam Hansen


Director of Corporate Development


73,770




Bill Allen


Chief Supply Officer


83,627




Kirsteen Vickerstaff


General Counsel and Company Secretary


53,279




Oliver Garner


Chief Executive Officer, Classic Collection Holidays and Classic Package Holidays


83,627




Stefan Nordin


Chief Technology and Product Officer


111,352




Zoe Harris


Chief Marketing Officer


118,852



 
These awards are subject to both EPS and TSR targets measured over a three year performance period and are summarised below:
 



Adjusted EPS for the financial year ending 30 September 2023


% of EPS element capable of vesting




Below threshold: < 17.27 pence


0%




Threshold: 17.27 pence


25%




Maximum: 23.37 pence or above


100%




Between 17.27 and 23.37 pence


25%-100% pro-rata on a straight line basis



 



Annualised TSR over the three year performance period 


% of TSR element capable of vesting




Below threshold: <8%


0%




Threshold: 8%


25%




Maximum: 15%


100%




Between 8% and 15%


25%-100% pro-rata on a straight line basis



 
There were 157,474,962 shares in issue at the time of this notification.
 



1.


Details of PDMR / person closely associated with them ("PCA")




a)


Name


SIMON COOPER
 
SHAUN MORTON
 
ADAM HANSEN
 
BILL ALLEN
 
KIRSTEEN VICKERSTAFF
 
OLIVER GARNER
 
STEFAN NORDIN
 
ZOE HARRIS




2.


Reason for the notification




a)


Position / status


SIMON COOPER - CHIEF EXECUTIVE OFFICER
SHAUN MORTON - CHIEF FINANCIAL OFFICER
ADAM HANSEN - DIRECTOR OF CORPORATE DEVELOPMENT
BILL ALLEN - CHIEF SUPPLY OFFICER
KIRSTEEN VICKERSTAFF - GENERAL COUNSEL AND COMPANY SECRETARY
OLIVER GARNER - CHIEF EXECUTIVE OFFICER, CLASSIC COLLECTION HOLIDAYS AND CLASSIC PACKAGE HOLIDAYS
STEFAN NORDIN - CHIEF TECHNOLOGY AND PRODUCT OFFICER
ZOE HARRIS - CHIEF MARKETING OFFICER




b)


Initial notification / amendment


Initial Notification




3.


Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor




a)


Name


On the Beach Group plc




b)


LEI


213800K51Y9BZY7F9R69




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
Identification code


Ordinary shares of 1 pence
GB00BYM1K758




b)


Nature of the transaction


Awards made pursuant to the On the Beach Group plc Long Term Incentive Plan ("LTIP")




c)


Price(s) and volume(s)


 



Price(s)


Volume(s)




Nil


SIMON COOPER - 84,861




Nil


SHAUN MORTON - 204,918




Nil


ADAM HANSEN - 73,770




Nil


BILL ALLEN - 83,627




Nil


KIRSTEEN VICKERSTAFF - 53,279




Nil


OLIVER GARNER - 83,627




Nil


STEFAN NORDIN - 111,352




Nil


ZOE HARRIS - 118,852



 
 




d)


Aggregated information
-     Aggregated volume
-     Price


N/A




e)


Date of the transaction


5 February 2021




f)


Place of the transaction


Outside a trading venue



 
For further information: 
 



On the Beach Group plc 
Kirsteen Vickerstaff, Company Secretary
 


via FTI Consulting




FTI Consulting 
Alex Beagley 
Fiona Walker 
Sam Macpherson
Holly Ayres


Tel: +44 (0)20 3727 1000



 

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