Grant of performance share awards under LTIP
CFO granted 208,333 performance share awards under LTIP vesting in three years subject to conditions.
- Performance Awards granted to CFO 208,333 ordinary shares
- Exercise Price 0.00001 USD
- Share price used for calculation 132p
- Vesting period 3 years from 17 December 2024
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AOTI, INC., a medical technology group focused on the durable healing of wounds and prevention of amputations, announces that on 17th December 2024, the Company granted awards over ordinary shares in the form of nominal cost options (Performance Awards) under the AOTI Long Term Incentive Plan (LTIP) to Jayesh Pankhania, CFO, who joined AOTI in June 2024 and is a Person Discharging Managerial Responsibilities (PDMR), as detailed below:
| PDMR | Role | Number of Performance Awards | Exercise Price ($) |
|---|---|---|---|
| Jayesh Pankhania | Chief Financial Officer | 208,333 | 0.00001 |
In determining the number of awards, the Company has used a share price of 132p, being the IPO price.
The Performance Awards will vest three years from the grant date conditional on meeting three-year performance conditions as described below.
40% of an award is subject to a revenue growth performance condition measured over a three-year period ending 31 December 2026.
30% of an award is subject to a relative total shareholder return (TSR) performance condition measured over three years from the date of the IPO. AOTI's TSR performance will be measured against a sector peer group of UK, US and other internationally quoted companies with 25% of this portion of the award vesting at median performance rising on a straight line to full vesting at upper quartile performance.
30% of an award is subject to an absolute total shareholder return performance condition measured over three years from the date of the IPO. Vesting will commence from zero at 10% compound annual growth rising on a straight line to full vesting at 20% compound annual growth.
| AOTI, INC. Dr. Mike Griffiths, Chief Executive Officer Jayesh Pankhania, Chief Financial Officer | +44 (0)20 3727 1000 ir@aotinc.net |
| Peel Hunt LLP (Nominated Adviser and Broker) Dr. Christopher Golden, Patrick Birkholm | +44 (0)20 7418 8900 |
| FTI Consulting (Financial PR & IR) Ben Atwell, Simon Conway, Natalie Garland-Collins, Alex Davis | +44 (0)20 3727 1000 AOTI@fitconsulting.com |
ABOUT AOTI, INC.
- Details of the person discharging managerial responsibilities/person closely associated
- Name Jayesh Pankhania
- Reason for the notification
- Position/status Chief Financial Officer
- Initial notification/Amendment Initial Notification
- Name AOTI, INC.
- LEI 213800ZGCNDSTWIRK687
- Description of the financial instrument Ordinary Shares
- Identification code US03690C1027
- Nature of the transactions Initial award under the AOTI LTIP
- Price(s) and volume(s) Exercise Price: 0p per share Volume: 208,333
- Aggregated information - Aggregated volume - Price As for d) above
- Date of the transactions 17 December 2024
- Place of the transactions Outside a trading venue
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.