REG - TT Electronics PLC - Long Term Incentive Plan 2014

TT electronicsAnnouncement

15/03/2018 12:15

RNS Number : 8686H
TT Electronics PLC
15 March 2018
15 March 2018
TT Electronics plc
Long Term Incentive Plan 2014
This notification is made in accordance with DTR 3.1.4(1)(a).
TT Electronics plc (the "Company") announces that conditional awards of ordinary shares of 25p each in the Company ("Shares") were made on 14 March 2018 to the following Executive Directors of the Company:
Executive Director Maximum Number
 of Shares
Richard Tyson 294,152
Mark Hoad 202,446
No consideration is payable for the grant of awards. The awards will normally vest three years from the date of grant, subject to achievement of the following performance conditions:
The performance target attached to 50 per cent of the award is based on earnings per share ("EPS") performance targets. 25 per cent of the Shares subject to this part of the award will vest for EPS growth of 5.0 per cent compound per annum, increasing on a straight-line basis to 100 per cent vesting for EPS growth of 12.5 per cent compound per annum.
The performance target attached to the other 50 per cent of the award is based on total shareholder return performance targets against the FTSE SmallCap (excluding Investment Trusts). 25 per cent of the Shares subject to this part of the award will vest at median performance increasing on a straight-line basis to 100 per cent vesting at the upper quartile of the comparator group.
Awards will be subject to clawback provisions.
The Company was informed of the above transactions on 15 March 2018.
For further information please contact:
TT Electronics plc
Richard Tyson, Chief Executive Officer:  Tel: + 44 (0)1932 825300
Mark Hoad, Chief Financial Officer:
Emma Darke, Head of Investor Relations and Communications
MHP Communications
Tim Rowntree / Katie Hunt / Ivana Petkova: Tel: +44 (0)20 3128 8100

This information is provided by RNS
The company news service from the London Stock Exchange
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