Aptitude Software Group PLC Grant of Awards under Performance Share Plan (7295L)
07 Settembre 2023 - 11:15AM
UK Regulatory
TIDMAPTD
RNS Number : 7295L
Aptitude Software Group PLC
07 September 2023
Aptitude Software Group plc (the "Company")
Grant of awards under the Company's Performance Share Plan 2016
("PSP")
On 6 September 2023 Aptitude Software Group plc granted awards
in the form of options over ordinary shares in the Company
("Ordinary Shares") under the PSP to the following Directors and
PDMRs. Each option has an exercise price per Ordinary Share equal
to the nominal value of an Ordinary Share.
Director/ PDMR Role Number of Ordinary
Shares over which
award granted
Executive Director/PDMR
(Acting Chief Executive
Alex Curran Officer) 121,215
---------------------------- -------------------
Executive Director/PDMR
Mike Johns (Chief Financial Officer) 74,659
---------------------------- -------------------
PDMR (Chief People
Jennifer Mead Officer) 50,683
---------------------------- -------------------
Each award has been granted subject to a performance condition
based on the Company's Total Shareholder Return ("TSR") over the
three year performance period starting on the date of grant
relative to the TSRs of the constituents of the FTSE SmallCap Index
(excluding investment trusts) and the Company's diluted earnings
per share ("EPS") at the end of a three year performance period
ending with 2025. The TSR performance condition accounts for 75% of
each award and the EPS performance condition for 25% of each award.
Details of the performance conditions are set out below.
Vesting TSR Performance Condition EPS Performance Condition
(Rank of the Company's ( diluted EPS for
TSR against the Comparator the final year of
Group) the performance period)
25% Median 15.7 pence
---------------------------- --------------------------
Between 25% and 100% Between median and Between 15.7 pence
upper quartile and 18.1 pence
---------------------------- --------------------------
100% Upper quartile or 18.1 pence or more
above
---------------------------- --------------------------
Each award is subject to a further performance condition that
the extent of vesting reflects the overall financial performance of
the Company over the performance period.
The extent to which the Awards vest will be determined following
the end of the TSR performance period. The awards granted to Alex
Curran and Mike Johns will be subject to a two year holding period
following assessment of performance. No other awards will be
subject to a holding period.
The 2023 awards to Alex Curran and Mike Johns have been made at
125% of salary, in line with the Remuneration Policy approved by
shareholders at the 2023 AGM (including, in line with the
commitment in the 2022 Directors' Remuneration Report, not
utilising the additional headroom for PSP grants approved in that
new Policy). Both Executive Directors are new in post, having
recently been promoted internally to the positions of Acting Chief
Executive Officer and Chief Financial Officer. The Remuneration
Committee has approved awards at this level as appropriate given
the changes in the Company leadership and the overall incentive
levels across the various elements of the Executive Directors'
remuneration packages. The Remuneration Committee will consider the
vesting outturns determined by reference to the performance
conditions and retains discretion in relation to the total level of
reward arising from the 2023 award having regard to overall Company
performance, the wider stakeholder experience, and the outcome of
prior year PSP schemes.
The following notifications have been made in accordance with
the requirements of the EU Market Abuse Regulation as part of UK
domestic law by virtue of the European Union (Withdrawal) Act
2018:
Notification and public disclosure of transactions by PDMRs and
persons closely associated with them
1. Details of the person discharging managerial responsibilities/person
closely associated
a) Name 1. Alex Curran
2. Mike Johns
3. Jennifer Mead
-------------------------------- ---------------------------------------
2. Reason for the notification
-------------------------------------------------------------------------
a) Position/status 1. Executive Director/PDMR
(Acting Chief Executive Officer)
2. Executive Director/PDMR
(Chief Financial Officer)
3. PDMR (Chief People Officer)
-------------------------------- ---------------------------------------
b) Initial notification/Amendment Initial notification
-------------------------------- ---------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------
a) Name Aptitude Software Group plc
-------------------------------- ---------------------------------------
b) LEI 2138009VHA1WI2VKMA28
-------------------------------- ---------------------------------------
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 Options over Ordinary Shares
instrument, type of instrument of 7 1/3 pence each
-------------------------------- ---------------------------------------
b) Identification code ISIN: GB00BJV2F804
-------------------------------- ---------------------------------------
c) Nature of the transaction Grant of options under Performance
Share Plan 2016
-------------------------------- ---------------------------------------
d) Price(s) and volume(s) Price Number of Ordinary
Shares over which
Options have
been granted
1. n/a 1. 121,215
2. n/a 2.74,659
3. n/a 3.50,683
-------------------------------- ---------------------------------------
e) Aggregated information n/a
* Aggregate volume
* Price
-------------------------------- ---------------------------------------
f) Date of the transaction 6 September 2023
-------------------------------- ---------------------------------------
g) Place of the transaction Outside a trading venue
-------------------------------- ---------------------------------------
Name of authorised official of Alex Campbell, Company Secretary,
issuer responsible for making Aptitude Software Group plc
notification:
---------------------------------------
Contact:
Alex Campbell, Company Secretary Telephone: 020-3687-3200
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END
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