REG - STV Group PLC - Grant of LTIP

STVAnnouncement

30/05/2019 16:25

RNS Number : 6579A
STV Group PLC
30 May 2019
 






STV Group plc
Director shareholding                                                              
 
30 May 2019
 
LEI: 21380075GOOTTBDNDJ58
 




 
The following share awards were granted 29 May 2019:
 




-   417,461 conditional nil cost share awards of 50p each to a total of ten employees under the STV Group plc Long-Term Incentive Plan ("LTIP") which was approved by shareholders on 26 April 2018.
 




The awards were granted at a price of £3.63 per ordinary share (the closing share price on Tues 28 May 2019) and these ten employees included two executive directors as follows:-




 
Director


 
Shares awarded




Simon Pitts, Chief Executive Officer


113,223




Lindsay Dixon, Chief Financial Officer


63,567




 




This award will vest in three years time subject to the continued employment of the participants and the satisfaction of the undernoted performance conditions and will be released following a further holding period of two years from the vesting date.








Performance conditions


 


 


 




 


Weighting


Threshold vesting (25% of max)


Max vesting




Annualised growth in adjusted EPS from FY18 to FY21


50%


5%


9%




Non-broadcast operating profit in FY21


30%


£8.0m


£12.0m




TSR relative to the FTSE Small Cap Index


20%


Median


Upper quartile




Performance  period for each metric commences on 1/1/19 and ends on 31/12/21








 
Additionally, as previously announced on 11 December 2018, the final element of the buy-out of remuneration forfeited at his previous employer has been awarded to Simon Pitts.  Mr Pitts was awarded 57,020 shares and has sold 27,425 shares to cover the tax and NIC liability arising on this award.
 




Further enquiries:




 




Jane E A Tames




Company Secretary




STV Group plc




Tel: 0141 300 3074




 




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