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

Wizz Air HoldingsAnnouncement

27/10/2023 14:00

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RNS Number : 5900R  Wizz Air Holdings PLC  27 October 2023

 

Wizz Air Holdings Plc

Wizz Air Omnibus Plan award grants

Geneva, 27 October 2023 - Wizz Air Holdings Plc ("Wizz Air" or the "Company"),
the fastest-growing European airline, announces the amendment of awards under
the Omnibus Share Plan ("Omnibus Plan") to two persons discharging management
responsibilities ("PDMRs").

 

On 21 September 2023, following approval by the Company's remuneration
committee, Wizz Air made the following amendments to two awards granted on 8
July 2022 under the Omnibus Plan as Senior Leadership Growth Plan awards
("SLGP Awards"):

·      Reducing the number of ordinary shares under each SLGP Award by
2,677 (which had been incorrectly granted due to a clerical error), meaning
the total number of shares under award for each PDMR was 19,007; and

·      A change in the vesting date from 40% vesting on 8 July 2027, 20%
on 8 July in each of 2028, 2029 and 2030 to 40% vesting on 6 August 2028, 20%
on 6 August in each of 2029, 2030 and 2031.

 

The following PDMRs were affected by the amendment of the SLGP Awards:

 

 1.   Details of the person discharging managerial responsibilities / person closely
      associated
 a)   Name                                                         Roland Tischner
 2.   Reason for the notification
 a)   Position / status                                            Officer Wizz Air Hungary Operations
 b)   Initial notification / amendment                             Amendment
 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               19,007
 e)   Aggregated information

      ·    Aggregated volume                                       19,007

      ·    Price                                                   NIL
 f)   Date of the transaction                                      8 July 2022
 g)   Date of the amendment                                        21 September 2023
 h)   Place of the transaction                                     N/A

 

 

 1.   Details of the person discharging managerial responsibilities / person closely
      associated
 a)   Name                                                         Yvonne Moynihan
 2.   Reason for the notification
 a)   Position / status                                            Corporate Officer
 b)   Initial notification / amendment                             Amendment
 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               19,007
 e)   Aggregated information

      ·    Aggregated volume                                       19,007

      ·    Price                                                   NIL
 f)   Date of the transaction                                      8 July 2022
 g)   Date of the amendment                                        21 September 2023
 h)   Place of the transaction                                     N/A

 

 

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

 

100% of an SLGP Award will vest if the Company's share price is  £119.34
(the "Share Price Target") at the end of the Performance Period 1 . The
threshold for an SLGP Award to vest is a Company share price of£77.24 under
which 0% of the SLGP Award vests with straight line vesting in between these
two points. If prior to the end of the Performance Period, the Share Price
Target is met or exceeded over any two consecutive quarters, based on the VWAP
over that period, then, subject to the Omnibus Plan rues, the SLGP Award will
vest in full on the normal vesting date.

 

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.

 

 ABOUT WIZZ AIR

 Wizz Air, the fastest growing European ultra-low-cost airline, operates a
 fleet of 187 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 51.1 million passengers in the financial year F23
 ending 31 March 2023. 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 named Airline of the Year
 by Air Transport Awards in 2019 and in 2023. Wizz Air has also been recognised
 as the "Most Sustainable Low-Cost Airline" within the World Finance
 Sustainability Awards in 2021-2023 and the "Global Environmental
 Sustainability Airline Group of the Year" by the CAPA-Centre for Aviation
 Awards for Excellence 2022.

  - Ends -

For more information:

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

 Media:      Tamara Vallois, Wizz Air                                       +36 1 777 9324

       James McFarlane / Eleni Menikou / Charles Hirst, MHP Group:    +44 (0) 20 3128 8100

-End-

 

 1  "Performance Period" means the seven consecutive financial years of which
the first is the financial year ending 31 March 2022.

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