REG - Shearwater Group PLC - Grant of LTIP Options

ShearwaterAnnouncement

10/07/2025 10:00

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RNS Number : 5457Q  Shearwater Group PLC  10 July 2025

 

This announcement contains inside information for the purposes of Article 7 of
EU Regulation 596/2014 (as amended), which forms part of domestic UK law
pursuant to the European Union (Withdrawal) Act 2018. Upon publication of this
announcement via a Regulatory Information Service, this inside information is
now considered to be in the public domain.

 

10 July 2025

 

 

Shearwater Group plc

("Shearwater", or the "Group")

 

Grant of LTIP Options

 

Shearwater Group plc, the cybersecurity, advisory, and managed security
services group, announces that on 9 July 2025 the Board approved the granti
of 380,000 share options to subscribe for new ordinary shares in the Company
to Group CEO Phil Higgins, in accordance with the Shearwater Group plc Long
Term Incentive Plan (the "Options").  The Options represent 1.6% of the
Company's existing issued ordinary share capital.

The Options were granted at the same price and under the same terms as options
historically granted to other Group staff in January 2025 and the Options now
being issued reflects the Remuneration Committee decision to delay the award
of Options to Mr. Higgins pending delivery of certain material contracts over
the remainder of the now concluded FY25 financial year.

The Options therefore vest in three equal tranches, on 31 October 2025, 31
October 2026 and 31 October 2027, subject to the achievement of the same
financial and non-financial performance conditions as the option grant
announced on 30 January 2025. Accordingly, 50% of options will vest on
continued employment while the remaining 50% will vest based on Shearwater
Group Adjusted EBITDA performance.

The option exercise price has been set at 35.2p, being the average closing
price in the 30 days prior to the original grant.

 1   Details of the person discharging managerial responsibilities / person closely
     associated
 a)  Name                                                              1.  Phil Higgins

 2   Reason for the notification
 a)  Position/status                                                   1.   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                                                              Shearwater Group PLC
 b)  LEI                                                               213800ZRUKUYDJLKD504
 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 10 pence each

     Identification code

                                                                       GB00BKT6VH21

 b)  Nature of transaction                                             Awards made pursuant to the rules of the Shearwater Group Long Term Incentive
                                                                       Plan
 c)  Price(s) and volume(s)                                            Price(s)                                                Volume(s)
                                                                       Nil                                                     1.   380,000

     Aggregated information

     -      Aggregated volume                                          n/a

     -      Price                                                      35.2p
 e)  Date of the transaction                                           09 July 2025
 f)  Place of the transaction                                          Outside a trading venue

 

 

Enquiries:

 

 Shearwater Group plc                                              www.shearwatergroup.com

 David Williams, Chairman                                          c/o Alma

 Phil Higgins, CEO

 Jonathan Hall, CFO

 Cavendish Securities plc                                          +44 (0) 20 7397 8900

 Adrian Hadden / Ben Jeynes - Corporate Finance

 Jamie Anderson / Dale Bellis / Michael Johnson - Broking/ Sales

 Alma                                                              shearwater@almastrategic.com (mailto:shearwater@almastrategic.com)

 Justine James / Joe Pederzolli / Emma Thompson                    +44 (0) 20 3405 0205

 

About Shearwater Group plc

 

Shearwater Group plc is an award-winning group providing cyber security,
managed security and professional advisory solutions to create a safer online
environment for organisations and their end users.

 

The Group's differentiated full service offering spans identity and access
management and data security, cybersecurity solutions and managed security
services, and security governance, risk and compliance. Its growth strategy is
focused on building a scalable group that caters to the entire spectrum of
cyber security and managed security needs, through a focused buy and build
approach.

 

The Group is headquartered in the UK, serving customers globally across a
broad spectrum of industries.

Shearwater shares are listed on the London Stock Exchange's AIM under the
ticker "SWG".  For more information, please visit www.shearwatergroup.com
(http://www.shearwatergroup.com) .

 

 

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