REG - Videndum PLC - Director/PDMR Shareholding

VidendumAnnouncement

07/05/2024 11:30

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RNS Number : 4304N  Videndum PLC  07 May 2024

7 May 2024

 

VIDENDUM PLC

 

 

Notification of Transactions of Directors and Persons Discharging Managerial
Responsibility (PDMRs)

 

 

Long Term Incentive Plan ("LTIP") - 2024 Awards

 

Videndum plc ("the Company") announces that on 2 May 2024 the following awards
of ordinary shares of 20 pence each were made under the Company's LTIP to
Executive Directors and PDMRs.

 

 Name              Position                       Award of 2024 LTIP shares
 Stephen Bird      Group Chief Executive          286,817
 Andrea Rigamonti  Group Chief Financial Officer  153,134
 Marco Pezzana     PDMR                           120,000
 Nicola Dal Toso   PDMR                           120,000
 Marco Vidali      PDMR                           120,000
 Jon Bolton        PDMR                           67,500

 

The awards to Stephen Bird and Andrea Rigamonti represent 150% and 125% of
salary respectively.

 

The awards will be subject to the following two performance conditions that
will run from 1 January 2024 to 31 December 2026:

 

(1)   TSR

 

33% of the award is subject to the Company's TSR performance measured against
a comparator group. The comparator group will be the constituents of the FTSE
250 index (excluding financial services companies and investments trusts). 25%
of this element of the award will vest if the Company's TSR is at the median
point of the comparator group at the end of the performance period and 100%
will vest if the Company's TSR is at or above the upper quartile of the
comparator group at the end of the performance period. A straight-line sliding
scale will operate between these two points and there will be no vesting below
the median point.

 

(2)   EPS

 

67% of the award is subject to growth in the Company's adjusted earnings per
share ("adjusted EPS") over the three-year performance period. The adjusted
EPS performance condition has threshold set at 38 pence and a stretch set at
50 pence for the year ended 31 December 2026 with a straight-line sliding
scale between each point. At threshold, 25% of this element of the award will
vest and at stretch 100% of this element of the award will vest. There will
be no vesting below 38 pence per share.

 

ROCE

 

The Remuneration Committee will also continue to use a ROCE underpin to ensure
the underlying financial performance of the business, for the EPS element of
the award, as part of the vesting outcome. The Committee will also retain a
discretion to scale back the vesting of an award should it result in an unfair
outcome for shareholders.

 

Subject to satisfaction of performance conditions, the awards made under the
LTIP will vest on the third anniversary of the award - being 2 May 2027. In
respect of Executive Directors, any awards vesting under the 2024 award will,
after deduction of taxes, be subject to a further two-year holding period.

 

Jon Bolton

Group Company Secretary

020 8332 4600

 

 

 

Videndum is a leading global provider of premium branded hardware products and
software solutions to the content creation market. We are organised in three
Divisions: Videndum Media Solutions, Videndum Production Solutions and
Videndum Creative Solutions.

Videndum's customers include broadcasters, film studios, production and rental
companies, photographers, independent content creators ("ICC"), professional
musicians and enterprises. Our product portfolio includes camera supports,
video transmission systems and monitors, live streaming solutions, smartphone
accessories, robotic camera systems, prompters, LED lighting, mobile power,
carrying solutions, backgrounds, audio capture, and noise reduction equipment.

We employ around 1,600 people across the world in ten different countries.
Videndum plc is listed on the London Stock Exchange, ticker: VID.

More information can be found at: https://videndum.com/
(https://videndum.com/)

LEI number: 2138007H5DQ4X8YOCF14

 

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