REG - Wizz Air Holdings - Wizz Air Omnibus Plan award grants

Wizz Air HoldingsAnnouncement

13/12/2022 09:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20221213:nRSM5241Ja&default-theme=true

RNS Number : 5241J  Wizz Air Holdings PLC  13 December 2022

Wizz Air Holdings Plc

Wizz Air Omnibus Plan award grants

 

Geneva, 13 December 2022 - Wizz Air Holdings Plc ("Wizz Air" or the
"Company"), the fastest-growing European airline, announces the granting of
awards under omnibus share plan ("Omnibus Plan"), including a Long-Term
Incentive Plan ("LTIP") and a senior leadership growth plan ("SLGP"), to a
person discharging management responsibilities ("PDMR") as set out below and
based on the approval of the Remuneration Committee, as at 25 July 2022.

 

LTIP Awards of Performance Options:

 

 1.                  Details of the person discharging managerial responsibilities / person closely
                     associated
 a)                  Name                                                         Ian Ogden Malin
 2.                  Reason for the notification
 a)                  Position / status                                            Executive Vice President & Group Chief Financial Officer
 b)                  Initial notification / amendment                             Initial notification
 3.                  Details of the issuer
 a)                  Name                                                         Wizz Air Holdings Plc
 b)                  Legal entity identifier                                      213800COXGZCORLJZA85
 4.                  Details of the transaction(s): section to be repeated for (i) each type of
                     instrument; (ii) each type of transaction; (iii) each date; and (iv) each
                     place where transactions have been conducted
 a)                  Description of the financial instrument, type of instrument  Ordinary shares of £0.0001 each
                     Identification code                                          JE00BN574F90
 b)                  Nature of the transaction                                    Grant of Performance Options
 c)                  Currency                                                     British Pounds
 d)                  Price(s) and volume(s)                                                         Price(s)          Volume(s)
                                                                                                    NIL               20,360
 e)                  Aggregated information

                     ·    Aggregated volume                                       20,360

                     ·    Price                                                   NIL
 f)                  Date of the transaction                                      14 November 2022
 g)                  Place of the transaction                                     Budapest, Hungary

 

For the LTIP Awards, the performance share awards will be subject to
conditions set out below:

 

(i)         90% of an award will vest subject to 15% CAGR in the
Company's share price over the next three-year period. The threshold growth
level is 7.5% CAGR for which 25% of the award vests with straight line vesting
in between these two points. Base period for calculation is VWAP over 1H CY
2022 - tested against share price at end of period VWAP 1H CY 2025; and

 

(ii)        10% of an award will vest based on the achievement of ESG
targets, the criteria for which will be people and environment both weighted
at 5%. If the minimum threshold CAGR of 7.5% is not achieved no ESG portion
will vest.

 

SLGP Awards of Performance Options:

 

 5.                  Details of the person discharging managerial responsibilities / person closely
                     associated
 a)                  Name                                                         Ian Ogden Malin
 6.                  Reason for the notification
 a)                  Position / status                                            Executive Vice President & Group Chief Financial Officer
 b)                  Initial notification / amendment                             Initial notification
 7.                  Details of the issuer
 a)                  Name                                                         Wizz Air Holdings Plc
 b)                  Legal entity identifier                                      213800COXGZCORLJZA85
 8.                  Details of the transaction(s): section to be repeated for (i) each type of
                     instrument; (ii) each type of transaction; (iii) each date; and (iv) each
                     place where transactions have been conducted
 a)                  Description of the financial instrument, type of instrument  Ordinary shares of £0.0001 each
                     Identification code                                          JE00BN574F90
 b)                  Nature of the transaction                                    Grant of Performance Options
 c)                  Currency                                                     British Pounds
 d)                  Price(s) and volume(s)                                                         Price(s)          Volume(s)
                                                                                                    NIL               28,510
 e)                  Aggregated information                                       28,510

                     ·    Aggregated volume

                     ·    Price
 f)                  Date of the transaction                                      14 November 2022
 g)                  Place of the transaction                                     Budapest, Hungary

 

The SLGP Awards, which are one-off awards, will be subject to the following
performance conditions:

 

(a)  100% of an award will vest subject to 20% CAGR in the Company's share
price over a five-year period. The threshold growth level is 15% CAGR for
which 0% of the award vests with straight line vesting in between these two
points. Base period for calculation is VWAP over 1H CY 2021 - tested against
share price at end of period VWAP 1H CY 2026; and

 

All vested options must be exercised within ten years of the date of grant. If
exercised, then the underlying shares of the vested options will be issued at
nil cost to the option holders. No amounts have been paid by the relevant
PDMRs for the grant of these options.

 

 

-End-

 

 

ABOUT WIZZ AIR

Wizz Air, the fastest growing European ultra-low-cost airline and one of the
most sustainable, operates a fleet of 175 Airbus A320 and A321 aircraft. A
team of dedicated aviation professionals delivers superior service and very
low fares, making Wizz Air the preferred choice of 40.0 million passengers in
the financial year F20 ending 31 March, 2020 and 27.1 million passengers in
the financial year F22 ending 31 March 2022. Wizz Air is listed on the London
Stock Exchange under the ticker WIZZ. The company was recently named one of
the world's top ten safest airlines by airlineratings.com
(http://airlineratings.com/) , the world's only safety and product rating
agency, and 2020 Airline of the Year by ATW, the most coveted honour an
airline or individual can receive, recognizing individuals and organizations
that have distinguished themselves through outstanding performance,
innovation, and superior service. Wizz Air is a recipient of CAPA's
prestigious Global Environmental Sustainability Airline Group of the year
award, 2022.

 

 

 For more information:
 Investors:  Zlatko Custovic, Wizz Air                               +36 1 777 9407

 Media:      Zsuzsa Trubek, Wizz Air                                 +36 70 652 4115

             Edward Bridges / Jonathan Neilan, FTI Consulting LLP:   +44 20 3727 1017

 

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 (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  DSHBKNBQFBDKFBD