REG - Tyman PLC - 2018 LTIP Awards and Directors Dealings

TymanAnnouncement

05/04/2018 17:00

RNS Number : 0260K
Tyman PLC
05 April 2018
 

TYMAN PLC
("Tyman" or the "Company")
 
2018 LTIP Awards and Directors' Dealings
 
Tyman plc, a leading international supplier of engineered components to the door and window industry, announces that on 5 April 2018 ("Award Date") the Remuneration Committee of the Company granted share awards (the "2018 Awards") under the Tyman Long Term Incentive Plan (the "LTIP"), in the form of nil cost options over ordinary shares of 5 pence each in the Company ("Ordinary Shares").
2018 Awards have been granted to the two Executive Directors and a further 28 senior managers and executives of the Company over a total of 832,543 Ordinary Shares.
Awards were made to the following Executive Directors:




Name


Number of Shares




Louis Eperjesi


176,381




James Brotherton


115,487




 
Vesting of 2018 Awards
Vesting of 2018 Awards is based on the Company's three-year cumulative underlying earnings per share ("EPS") for the financial years 2018 to 2020 of 92.0p (lower threshold - 25% vesting) and 109.0p (upper threshold - 100% vesting) and subject to a discretionary underpin based on, inter alia, relative TSR over the period 2018 - 2020 and reported ROCE performance in 2020 of not less than 15 per cent..
Five year holding period
Awards granted to the Executive Directors and members of the Tyman Management Committee that vest shall be subject to a compulsory holding period of five years from the Award Date.
Timetable and Awards Outstanding
2018 Awards are expected to vest in March 2021, following the announcement of the Company's results for the year ended 31 December 2020 and the holding requirement is expected to lapse on 5 April 2023.
In aggregate, as at today's date, a total of 2,323,789 awards are outstanding over the Company's Ordinary Shares under the LTIP.
5 April 2018
 




Tyman plc


020 7976 8000




Carolyn Gibson - Company Secretary


www.tymanplc.com




 



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