REG - STV Group PLC - Grant of LTIP

STVAnnouncement

24/03/2021 15:35

RNS Number : 3818T
  
STV Group PLC
  
24 March 2021
  
 





STV Group plc 
Director shareholding                                                               

24 March 2021

LEI: 21380075GOOTTBDNDJ58





The following share awards were granted today, 24 March 2021:





-    468,448 conditional nil cost share awards of 50p each to a total of nine 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 330 pence per ordinary share (the closing share price on Tuesday 23 March 2021) and these nine employees included two executive directors as follows:-





Director 



Shares awarded 




Simon Pitts, Chief Executive Officer


127,036




Lindsay Dixon, Chief Financial Officer


71,323



 



This award will vest in three years 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 measure


Calibration of targets


Weighting


Threshold vesting
(25% of max)


Maximum vesting
 




EPS


Annualised growth in adjusted EPS from FY20 to FY23


50%


4%


13%




Non-broadcast operating profit


Operating profit for non-broadcast in FY23


30%


£9.5m


£16.5m




TSR


Ranked position of the Company's shareholder return (TSR) against the FTSE Small Cap Index
 (3 month average)


20%


Median


Upper quartile












Additionally, as previously disclosed, the final element of the buy-out of remuneration forfeited at his previous employer has been awarded to Simon Pitts.  Mr Pitts was awarded 30,372 shares and has sold 14,608 shares to cover the tax and NIC liability arising on this award.





Further enquiries:









Jane E A Tames, Company Secretary, STV Group plc               jane.tames@stv.tv




Kirstin Stevenson, Head of Communications, STV Group plc     kirstin.stevenson@stv.tv














 

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