REG - Spectris PLC - Director/PDMR Shareholding
10/09/2024 18:15
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RNS Number : 6549D Spectris PLC 10 September 2024
Spectris plc: Director/PDMR Shareholding
This notification is made under Article 19(1) of the EU Market Abuse
Regulation 596/2014 as it forms part of domestic law by virtue of the European
Union (Withdrawal) Act 2018 ("MAR") and relates to the grant of share awards
under the terms of the Spectris Long Term Incentive Plan ("LTIP") to persons
discharging managerial responsibilities ("PDMRs").
On 10 September 2024, Spectris plc (the "Company") was informed that, Angela
Noon, Executive Director and PDMR of the Company accepted awards, on the same
day, granted by the Company of nominal-cost share options over ordinary 5p
shares on 6 September 2024, pursuant to the terms of the LTIP ("LTIP Awards"),
as set out below:
Name and Position Vesting Date Maximum number of shares that may vest under the LTIP Awards granted Performance conditions
(Yes / No)
Angela Noon, Chief Financial Officer 06 September 2029 41,578(1, 2) Yes
Buy
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01 September 2025 13,546 Yes
31 July 2026 13,688 Yes
28 July 2025 281 No
06 September 2027 5,813 No
TOTAL 74,906
1. Includes 1.4X multiplier. More details on the performance
conditions attached to these LTIP Awards and the multiplier can be found in
the Company's 2023 Remuneration Policy.
2. Angela Noon's 2024 LTIP nominal-cost options are linked to a grant
of market-value share options ("Linked Options"). Linked Options are granted
up to the £60,000 limit under the HMRC's Company Share Option Plan. For the
avoidance of doubt, no additional gross value can be delivered from the
exercise of these Linked Options under the terms of the LTIP.
The total number of ordinary shares over which these LTIP Awards were accepted
represents 0.07% of the Company's issued ordinary share capital on 10
September 2024.
No consideration was paid for the grant of the LTIP Awards.
The first award in the above table represents the 2024 LTIP Award. The vesting
of this 2024 LTIP Award is subject to the continued employment of the
Executive Director, malus and clawback provisions and the satisfaction of
performance conditions set by the Remuneration Committee of the Company. This
2024 LTIP Award will normally vest on the later of the third anniversary of
grant and the determination of the performance conditions. The Executive
Director's 2024 LTIP Award is then subject to an additional two-year vesting
period. To the extent that the 2024 LTIP Award vests, it is exercisable for a
period of five years from the end of the additional vesting period.
The other LTIP Awards in the table represent buy-out awards ("LTIP Buy-out
Awards") for share awards and bonuses which Angela Noon forfeited from her
previous employment. The table summarises the respective vesting dates and
whether any performance conditions are attached to these LTIP Buy-out
Awards.
The vesting of these LTIP Buy-out Awards are subject to the continued
employment of the Executive Director, malus and clawback provisions and, where
applicable, the satisfaction of relevant performance conditions set by the
Remuneration Committee of the Company. The LTIP Buy-out Awards shown as having
performance conditions attached will be subject to an additional two-year
holding period after the respective vesting dates.
The nominal award price payable by each participant on the exercise of these
LTIP Awards is 5 pence per share.
The information set out below is provided in accordance with the requirements
of Article 19(3) of MAR and provides further detail:
1 Details of the persons discharging managerial responsibilities
a) Name(s) Angela Noon
2 Reason for the notification
a) Position/status Director and PDMR
b) Initial notification/Amendment Initial Notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Spectris plc
b) LEI 213800Z4CO2CZO3M3T10
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 Option granted over ordinary shares of 5p each
Identification code GB0003308607
b) Nature of the transaction Acceptance of a grant of a share option over ordinary shares of 5p each on 10
September 2024, pursuant to the terms of the LTIP.
c) Price(s) and volume(s) Price(s) Volume(s)
£0.05 LT
IP
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d) Aggregated information Aggregated Volume 74,906
Price £3,745.30
e) Date of the transaction 10 September 2024
f) Place of the transaction Outside a trading venue
Name of contact and telephone number for queries:
Guy Holden
Group Reward and Share Plan Manager
07585 403 180
For and on behalf of Spectris plc
LEI Number: 213800Z4CO2CZO3M3T10
Date: 10 September 2024
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