REG - Somero Enterprises - Restricted Stock Units, Director/PDMR Shareholding

Somero EnterprisesAnnouncement

Today 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250506:nRSF4363Ha&default-theme=true

RNS Number : 4363H  Somero Enterprises Inc.  06 May 2025

Somero Enterprises Inc.

 

("Somero" or the "Company")

 

Restricted Stock Units and

Director/PDMR Shareholding

 

Restricted Stock Unit Awards

On 2 May 2025, the Board of the Company approved issuance of Restricted Stock
Units (RSUs) to the following executive Directors under the terms of Somero's
2020 Equity Incentive Plan at a price of 215 pence per RSU based on the
closing price on 2 May 2025.

 Name                                Number of RSUs awarded
 Tim Averkamp                        65,579 shares

 

RSUs awarded to Mr. Averkamp, executive Director, were granted as part of an
annual incentive compensation program. The shares awarded are the maximum
available under the grants, will vest over a three-year period commencing on
the date of the grant, and require continued service for the period.

In addition to the RSUs awarded to Directors, the Board of the Company
approved RSUs to be awarded to a non-Director employee under the terms of
Somero's 2020 Equity Incentive Plan at a price of 215 pence per RSU based on
the closing price on 2 May 2025. The awards to non-Director employees are a
key element of the Company's employee retention program as well as a reward to
employees for significant contributions to the Company's performance.  The
total number of RSUs awarded to non-Director employees was 10,887 which are
subject to the same vesting and service requirements as the Director awards
and each participating non-Director will, following the end of the performance
period, be notified as to the extent to which the service conditions have been
met and their award has vested.

Unless determined otherwise by the Equity Incentive Plan administrator, each
RSU will be equal to one share of common stock in the Company and will entitle
each Director to either shares of common stock or an amount of cash determined
with reference to the value of shares of common stock at the point of vesting
at the discretion of the Company.

Following the above transactions, total outstanding RSUs will equal 890,369
units and the Company's total issued share capital will be 54,718,644 shares
and no shares held in Treasury.  Therefore, the total number of shares with
voting rights will be 54,718,644

 

 

 

 1.      Details of the person discharging managerial responsibilities / person closely
         associated
 a)      Name                                                         Tim Averkamp
 2.      Reason for the Notification
 a)      Position/status                                              CEO
 b)      Initial notification/Amendment                               Initial notification

 3.      Details of the issuer, emission allowance market participant, auction
         platform, auctioneer or auction monitor
 a)      Name                                                         Somero Enterprises Inc.
 b)      LEI                                                          549300OQ2P18NRWBIW58
 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 $0.001 each ("Ordinary Shares")
         Identification code                                          USU834501038
 b)      Nature of the transaction                                    Employee Restricted Stock Unit Award
 c)      Price(s) and volume(s)                                       Price: n/a

                                                                      Volume: 65,579
 d)      Aggregated information:                                      n/a

·       Aggregated volume

         ·       Price
 e)      Date of the transaction                                      2 May 2025
 f)      Place of the transaction                                     London Stock Exchange, AIM Market (XLON)

 

The information communicated in this announcement contains inside information
for the purposes of Article 7 of the Market Abuse Regulation (EU) No.
596/2014.

 

For further information, please contact:

 

 Somero Enterprises, Inc.                                                        www.somero.com (http://www.somero.com)

 Tim Averkamp CEO                                                                +1 239 210 6500
 Vincenzo LiCausi, CFO
 Howard Hohmann, EVP Sales

 Cavendish Capital Markets Ltd (NOMAD and Broker)                                +44 (0)20 7220 0500
 Matt Goode/Seamus Fricker/Trisyia Jamaludin (Corporate Finance)
 Tim Redfern/Harriet Ward (Corporate Broking)

 Alma Strategic Communications (Financial Communications Advisor)                somero@almastrategic.com
 David Ison                                                                      +44 (0)20 3405 0205
 Rebecca Sanders-Hewett
 Will Merison

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  DSHUPUWCAUPAPGA