REG - Solid State PLC - New Share Option Scheme and Award of Options

Solid StateAnnouncement

Wed 07:00

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RNS Number : 0416E  Solid State PLC  13 May 2026

 

Solid State plc

("Solid State", the "Group" or the "Company")

New Share Option Scheme and Award of Options

 

Solid State plc (AIM: SOLI), the specialist value added component supplier and
design-in manufacturer of computing, power, and communications products,
announces that the Board has approved a new share option scheme (the "2026
Scheme"), updating the existing Long Term Incentives Plan ("LTIP") to include
the necessary wording to be eligible with the EMI rules. The LTIP is intended
to incentivise senior management and align remuneration with the delivery of
long-term shareholder value.

In connection with approval of the 2026 Scheme, options over ordinary shares
in the Company ("Options") have been granted to certain Executive Directors
and PDMRs of the Company.

The Options are subject to a performance condition based on earnings per share
("EPS") for the financial year-ended 31 March 2028, such that no Options will
vest unless EPS reaches at least 11.5 pence per share. Where this threshold is
met, the number of Options that vest will increase on a straight-line basis up
to a maximum level at EPS of 16.0 pence per share (the "Vesting Ceiling"). Any
EPS in excess of the Vesting Ceiling will not result in any further Options
vesting above this level.

In respect of the Executive Directors, the relevant thresholds are set out
below:

 Executive Director  Minimum number of Options (EPS of 11.5 p)  Maximum number of Options   (EPS 16.0 p)    Other Options held  Total Options held (at maximum threshold)
 John Macmichael     71,000                                     225,000                                     106,000             331,000
 Peter James         71,000                                     225,000                                     187,000             412,000

 

In addition to the executive directors listed above, four other PDMRs have
been granted Options over a maximum aggregate total of 280,000 ordinary
shares, with a corresponding minimum aggregate potential vesting of 140,000
ordinary shares. On an individual basis, the Options range from a maximum of
70,000 ordinary shares per PDMR, to a minimum of 35,000 ordinary shares per
PDMR. Vesting of these awards is subject to the same EPS performance
condition, straight-line vesting mechanism and Vesting Ceiling as for the
executive Directors.

Vesting of all Options is also subject to continued employment and the other
standard terms of the 2026 Scheme. Any vesting in respect of leavers or other
exceptional circumstances shall be determined in accordance with the Scheme
rules and at the discretion of the Remuneration Committee, as applicable.

The Board believes that the performance conditions attaching to the LTIP
awards are a fair measure of value creation and align the Directors' interest
with those of the Company's shareholders.

600,375 options previously awarded to Directors and PDMRs under the previous
CSOP and LTIP scheme have been formally lapsed due to performance conditions
not being met or not being expected to be achieved.

Further details in respect of the awards made to Executive Directors and PDMRs
are set out below in accordance with the UK Market Abuse Regulation.

 

For further information please contact:

 

 Solid State plc                                            Via Walbrook

 John Macmichael - Chief Executive

 Peter James - Chief Financial Officer
 Cavendish Capital Markets Limited                          020 7220 0500

 (Nominated Adviser & Broker)

 Adrian Hadden / Callum Davidson (Corporate Finance)

 Jasper Berry / Matt Lewis (Sales / ECM)
 Walbrook PR (Financial PR)                                 020 7933 8780

 Tom Cooper / Nick Rome                                     0797 122 1972

                                                            solidstate@walbrookpr.com

 

Analyst Research Reports: For further analyst information and research see
the Solid State plc website: https://solidstateplc.com/research/
(https://urldefense.proofpoint.com/v2/url?u=https-3A__solidstateplc.com_research_&d=DwMFAg&c=euGZstcaTDllvimEN8b7jXrwqOf-v5A_CdpgnVfiiMM&r=05PHl3GHdShYuaCii2fBRpoqaNr9B1d97X09daeosu0&m=JmX-gQVke87P3UDBxQzNglNm9FfzH5yZtIa_SmElSS4&s=ib8r3ul2tCaEvJ39SnR1LT7nCa7gAcRQzgO-kNoyZoM&e=)
 

Notes to Editors:

Solid State plc (AIM: SOLI) is a leading value-added electronics group
supplying industrial and defence markets with durable components, assemblies
and manufactured systems for use in critical applications, with a particular
emphasis on harsh operational environments. Solid State's products are found
around the world, from the ocean floor and into space, ensuring the smooth
operation of systems that augment our everyday lives.

The Company has a core focus on industrial and ruggedised computing, battery
power solutions, antennas, secure radio systems, imaging technologies, and
electronic components & displays.

Operating through three divisions (Systems, Power and Components) the Group
thrives on complex engineering challenges, often requiring design-in support
and component sourcing. Serving a wide range of industries, with a particular
focus on defence, energy production, aerospace, environmental, oceanographic,
industrial, robotics, medical, life sciences, and transportation, the Solid
State trading brands have become synonymous with quality and reliability. The
Group operates under the brands of Steatite, Solsta, Custom Power, Pacer,
Active Silicon, Gateway, Durakool and Q-Par.

Solid State plc is headquartered in Redditch, UK, and employs over 425 people
around the world. The business has seven production facilities in the UK and
one in the USA. In total, including all office locations, the Group operates
from 13 national and international sites.

Solid State was established in 1971 and admitted to AIM in June 1996. The
Group has grown organically and by acquisition - having made five acquisitions
in the last five years.

Take a look at the videos below for more insight into the Solid State Group.

Introduction to Solid State - https://youtu.be/1M_Q_B1mYic
(https://urldefense.proofpoint.com/v2/url?u=https-3A__youtu.be_1M-5FQ-5FB1mYic&d=DwMGaQ&c=euGZstcaTDllvimEN8b7jXrwqOf-v5A_CdpgnVfiiMM&r=05PHl3GHdShYuaCii2fBRpoqaNr9B1d97X09daeosu0&m=3dW1DsO04w3fOD5H-7rw_kFgcxacpqn1XcdwanaeIt0GZ7CA-Ex3GbIRbrY8H0Qp&s=At43cSgB_l2_aLDoWAG1btwtdQsj0fGFEOvZuRER61Y&e=)

Why invest in Solid State? - https://youtu.be/ShmTz6005ws
(https://urldefense.proofpoint.com/v2/url?u=https-3A__youtu.be_ShmTz6005ws&d=DwMGaQ&c=euGZstcaTDllvimEN8b7jXrwqOf-v5A_CdpgnVfiiMM&r=05PHl3GHdShYuaCii2fBRpoqaNr9B1d97X09daeosu0&m=3dW1DsO04w3fOD5H-7rw_kFgcxacpqn1XcdwanaeIt0GZ7CA-Ex3GbIRbrY8H0Qp&s=BRSABtV1H6lx3GEpH8ZgxTINGT_PRgrBvEbFa-O11Yg&e=)

 

 1    Details of the person discharging managerial responsibilities / person closely

    associated

 a)   Name                                                         John Macmichael

 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                                                         Solid State plc
 b)   LEI                                                          213800QUHS9QTN5T1P62
 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 5p each

      Identification code

                                                                   GB0008237132

 b)   Nature of the transaction                                    Grant of options
 c)   Price(s) and volume(s)

Exercise Price(s)  Volume(s)

                                                                    5p                225,000

 

 d)   Aggregated information

      - Aggregated volume                                           N/A - single transaction

      - Price

 e)   Date of the transaction                                      13 May 2026
 f)   Place of the transaction                                     Outside a trading venue

 

d)

 

Aggregated information

- Aggregated volume

- Price

 

 

 N/A - single transaction

e)

Date of the transaction

13 May 2026

f)

Place of the transaction

Outside a trading venue

 

 

 1    Details of the person discharging managerial responsibilities / person closely

    associated

 a)   Name                                                         Peter James

 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                                                         Solid State plc
 b)   LEI                                                          213800QUHS9QTN5T1P62
 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 5p each

      Identification code

                                                                   GB0008237132

 b)   Nature of the transaction                                    Grant of options
 c)   Price(s) and volume(s)

Exercise Price(s)  Volume(s)

                                                                    5p                225,000

 

 d)   Aggregated information

      - Aggregated volume                                           N/A - single transaction

      - Price

 e)   Date of the transaction                                      13 May 2026
 f)   Place of the transaction                                     Outside a trading venue

 

d)

 

Aggregated information

- Aggregated volume

- Price

 

 

 N/A - single transaction

e)

Date of the transaction

13 May 2026

f)

Place of the transaction

Outside a trading venue

 

 1    Details of the person discharging managerial responsibilities / person closely

    associated

 a)   Name                                                         Jonathan Baxter

 2    Reason for the notification
 a)   Position/status                                              PDMR

 b)   Initial notification /Amendment                              Initial Notification
 3    Details of the issuer, emission allowance market participant, auction

    platform, auctioneer or auction monitor

 a)   Name                                                         Solid State plc
 b)   LEI                                                          213800QUHS9QTN5T1P62
 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 5p each

      Identification code

                                                                   GB0008237132

 b)   Nature of the transaction                                    Grant of options
 c)   Price(s) and volume(s)

Exercise Price(s)  Volume(s)

                                                                   5p                 70,000

 

 d)   Aggregated information

      - Aggregated volume                                           N/A - single transaction

      - Price

 e)   Date of the transaction                                      13 May 2026
 f)   Place of the transaction                                     Outside a trading venue

 

d)

 

Aggregated information

- Aggregated volume

- Price

 

 

 N/A - single transaction

e)

Date of the transaction

13 May 2026

f)

Place of the transaction

Outside a trading venue

 

 1    Details of the person discharging managerial responsibilities / person closely

    associated

 a)   Name                                                         Lyn Davidson

 2    Reason for the notification
 a)   Position/status                                              PDMR

 b)   Initial notification /Amendment                              Initial Notification
 3    Details of the issuer, emission allowance market participant, auction

    platform, auctioneer or auction monitor

 a)   Name                                                         Solid State plc
 b)   LEI                                                          213800QUHS9QTN5T1P62
 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 5p each

      Identification code

                                                                   GB0008237132

 b)   Nature of the transaction                                    Grant of options
 c)   Price(s) and volume(s)

Exercise Price(s)  Volume(s)

                                                                    5p                70,000

 

 d)   Aggregated information

      - Aggregated volume                                           N/A - single transaction

      - Price

 e)   Date of the transaction                                      13 May 2026
 f)   Place of the transaction                                     Outside a trading venue

 

d)

 

Aggregated information

- Aggregated volume

- Price

 

 

 N/A - single transaction

e)

Date of the transaction

13 May 2026

f)

Place of the transaction

Outside a trading venue

 

 1    Details of the person discharging managerial responsibilities / person closely

    associated

 a)   Name                                                         Lyenka Haffner

 2    Reason for the notification
 a)   Position/status                                              PDMR

 b)   Initial notification /Amendment                              Initial Notification
 3    Details of the issuer, emission allowance market participant, auction

    platform, auctioneer or auction monitor

 a)   Name                                                         Solid State plc
 b)   LEI                                                          213800QUHS9QTN5T1P62
 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 5p each

      Identification code

                                                                   GB0008237132

 b)   Nature of the transaction                                    Grant of options
 c)   Price(s) and volume(s)

Exercise Price(s)  Volume(s)

                                                                    5p                70,000

 

 d)   Aggregated information

      - Aggregated volume                                           N/A - single transaction

      - Price

 e)   Date of the transaction                                      13 May 2026
 f)   Place of the transaction                                     Outside a trading venue

 

d)

 

Aggregated information

- Aggregated volume

- Price

 

 

 N/A - single transaction

e)

Date of the transaction

13 May 2026

f)

Place of the transaction

Outside a trading venue

 

 1    Details of the person discharging managerial responsibilities / person closely

    associated

 a)   Name                                                         David Crossman

 2    Reason for the notification
 a)   Position/status                                              PDMR

 b)   Initial notification /Amendment                              Initial Notification
 3    Details of the issuer, emission allowance market participant, auction

    platform, auctioneer or auction monitor

 a)   Name                                                         Solid State plc
 b)   LEI                                                          213800QUHS9QTN5T1P62
 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 5p each

      Identification code

                                                                   GB0008237132

 b)   Nature of the transaction                                    Grant of options
 c)   Price(s) and volume(s)

Exercise Price(s)  Volume(s)

                                                                    5p                70,000

 

 d)   Aggregated information

      - Aggregated volume                                           N/A - single transaction

      - Price

 e)   Date of the transaction                                      13 May 2026
 f)   Place of the transaction                                     Outside a trading venue

 

d)

 

Aggregated information

- Aggregated volume

- Price

 

 

 N/A - single transaction

e)

Date of the transaction

13 May 2026

f)

Place of the transaction

Outside a trading venue

 

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