REG - STV Group PLC - LTIP/Deferred share Awards

STVAnnouncement

11/12/2018 13:15

RNS Number : 1368K
STV Group PLC
11 December 2018
 






STV Group plc
 
LTIP/Deferred share Awards                                                               
 
LEI: 21380075GOOTTBDNDJ58
 
 
11 December 2018


 




 
The following share awards have been granted today, 11 December 2018:
 


 




-   An award of 65,649 deferred shares to Simon Pitts representing the final element of incentive awards forfeited at his previous employer.  Half of these shares will vest on 31 March 2019 and the remainder will vest in March 2020.
 


 




-   348,025 conditional nil cost share awards of 50p each to a total of eight 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 £3.23 per ordinary share (the closing share price on Monday 10 December 2018) and these eight employees included one executive director as follows:-
 


 




 
Director


 
Shares awarded


 




 


 




 


 


 




Simon Pitts


123,839


 




(Chief Executive Officer)


 




 




These will be released to the participants in the form of deferred shares in three years time and following a further holding period of two years will vest subject to the continued employment of the participants and the satisfaction of the following performance conditions:-




 








 


 


 


 




Performance conditions


Weighting


Threshold vesting (25% of max)


Max vesting




Annualised growth in adjusted EPS from FY17 to FY20


50%


7%


12%




Non-broadcast operating profit in FY20


30%


£7.0m


£11.0m




TSR relative to the FTSE Small Cap Index


20%


Median


Upper quartile




Performance  period for each metric commences on 1/1/18 and ends on 31/12/20








 




Further enquiries:




 




Jane E A Tames




Company Secretary




STV Group plc




Tel: 0141 300 3074




 




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