REG - Tyman PLC - Tyman 2019 LTIP Awards
RNS Number : 3653TTyman PLC19 March 2019TYMAN PLC
("Tyman" or the "Company")
2019 Awards
Tyman plc, a leading international supplier of engineered components to the door and window industry, announces that on 18 March 2019 ("Award Date") the Remuneration Committee of the Company granted share awards (the "2019 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").
2019 Awards have been granted to the Chief Executive Officer Designate, Jo Hallas and a further 28 senior managers and executives of the Company over a total of 763,338 Ordinary Shares. No 2019 Awards were made to the Executive Directors, Louis Eperjesi and James Brotherton.
Award made to Chief Executive Officer Designate:
Name
Number of Shares
Jo Hallas
225,038
Vesting of 2019 Awards
Vesting of 2019 Awards is based on the Company's three-year cumulative underlying earnings per share ("EPS") for the financial years 2019 to 2021 of 95.0p (lower threshold - 25% vesting) and 112.0p (upper threshold - 100% vesting) and subject to a discretionary underpin based on, inter alia, relative TSR over the period 2019 - 2021 and reported ROCE performance in 2021 of not less than 15 per cent., under current accounting policies.
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
2019 Awards are expected to vest in March 2022, following the announcement of the Company's results for the year ended 31 December 2021 and the holding requirement is expected to lapse on 18 March 2024.
In aggregate, as at today's date, a total of 2,334,734 awards are outstanding over the Company's Ordinary Shares under the LTIP.
19 March 2019
Tyman plc
020 7976 8000
Carolyn Gibson - Company Secretary
www.tymanplc.com
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.ENDDSHCKCDBFBKDKND
Recent news on Tyman
See all newsREG-Charles Schwab Investment Management, Inc. Form 8.3 - TYMAN PLC
AnnouncementREG - UBS AG (EPT) Quanex Building Prod Tyman PLC - Form 8.5 (EPT/RI) Tyman Plc
AnnouncementREG - Geode Capital Mgmnt Tyman PLC Quanex Building Prod - Form 8.3 - Quanex Building Products Corporation
AnnouncementREG - Barclays PLC Tyman PLC - Form 8.3 - TYMAN PLC
AnnouncementREG - BlackRock Group Tyman PLC - Form 8.3 - Tyman plc
Announcement