Grant of Awards & PDMR Dealing
Cirata PLC has announced the grant of share options to its Chief Technical Officer, Paul Scott Murphy, and Chief Revenue Officer, Dominic Arcari, as part of its long-term incentive plan. Paul Scott Murphy received 300,000 options exercisable at 20.6 pence, vesting quarterly until February 2029, and another 300,000 options exercisable at 10 pence, vesting on December 31, 2027, contingent on the share price reaching at least 75 pence. Dominic Arcari was granted 300,000 options exercisable at 10 pence, also vesting on December 31, 2027, subject to the same 75 pence share price condition. These awards are intended to align leadership incentives with shareholder interests.
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Cirata (LSE: CRTA), announces a grant of awards to Paul Scott Murphy Chief Technical Officer ("CTO"), and Dominic Arcari Chief Revenue Officer ("CRO") under the Company's Share Options Plan (as amended and restated) ("SOP") (the "Award").
The Company's Remuneration Committee has approved the Awards and regards long term incentives as an important part of the remuneration of members of the leadership team to align them with shareholder interests.
Paul Scott Murphy CTO
Award Details
The Awards shall be structured in the form of equity-based payments. The Award is comprised of 50% share options and 50% performance-based share options. Each performance-based share option entitles the holder to receive one ordinary share of 10p each in the Company ("Ordinary Shares") upon vesting, subject to the achievement of the performance-based conditions detailed below.
- Options over 300,000 Ordinary Shares have been awarded which will vest as a one-year cliff and then on a straight-line basis, quarterly through to the end of February 2029 with an exercise price of 20.6 pence per share. The options carry no performance conditions.
- Options over 300,000 Ordinary Shares have been awarded which will vest on 31 December 2027 with an exercise price of 10 pence per share, being the nominal value of the shares on the grant date. This vesting will be subject to the achievement of a closing market price of the Company's Ordinary shares of at least 75 pence on the vesting date.
The Option strike price of 20.6 pence has been determined as the 60-day volume weighted average price ("VWAP") to 3 February 2026[1].
Any shares issued upon exercise or vesting will rank pari passu with the existing Ordinary Shares of the Company. The Awards are subject to continued service and applicable malus and clawback provisions.
The Awards to Paul Scott Murphy are summarised in the following schedule.
Option Grants
| Award | Number of Options | % of Issued Share capital [2] | Strike | Vesting Conditions | Vesting Date |
|---|---|---|---|---|---|
| Options | 300,000 | 0.24% | Nominal Value (10 pence per share) | Closing price of Ordinary Shares of at least 75 pence on vesting date | 31 December 2027 |
| Options | 300,000 | 0.24% | 20.6 pence | One year cliff | Quarterly to end February 2029 |
Following the grant of the Awards, Paul Scott Murphy is beneficially interested in 1,345,000 options over Ordinary Shares in the Company equating to 1.06% of outstanding share capital.
In addition, Paul Scott Murphy is the beneficial owner of 22,907 Ordinary Shares, representing 0.02% of the Company's total issued share capital.
Dominic Arcari CRO
Award Details
The Awards shall be structured in the form of equity-based payments. The Award is comprised of performance-based share options. Each performance-based share option entitles the holder to receive one ordinary share of 10p each in the Company ("Ordinary Shares") upon vesting, subject to the achievement of the performance-based conditions detailed below.
- Options over 300,000 Ordinary Shares have been awarded which will vest on 31 December 2027 with an exercise price of 10 pence per share, being the nominal value of the shares on the grant date. This vesting will be subject to the achievement of a closing market price of the Company's Ordinary shares of at least 75 pence on the vesting date.
Any shares issued upon exercise or vesting will rank pari passu with the existing Ordinary Shares of the Company. The Awards are subject to continued service and applicable malus and clawback provisions.
The Awards to Dominic Arcari are summarised in the following schedule.
Option Grants
| Award | Number of Options | % of Issued Share capital | Strike | Vesting Conditions | Vesting Date |
|---|---|---|---|---|---|
| Options | 300,000 | 0.24% | Nominal Value (10 pence per share) | Closing price of Ordinary Shares of at least 75 pence on vesting date | 31 December 2027 |
Following the grant of the Awards, Dominic Arcari is beneficially interested in 650,000 options over Ordinary Shares in the Company (0.51% of outstanding share capital).
In addition, Dominic Arcari is the beneficial owner of 14,500 Ordinary Shares, representing 0.01% of the Company's total issued share capital. These shares were acquired before Dominic joined the company.
| a) | Name | Paul Scott Murphy | ||||||
| 2 | Reason for the notification | |||||||
| a) | Position/status | CTO | ||||||
| b) | Initial notification /Amendment | Initial notification | ||||||
| a) | Name | Cirata plc | ||||||
| b) | LEI | 213800Y1A75RSC698O04 | ||||||
| a) | Description of the financial instrument, type of instrument Identification code | Ordinary Shares 10p each ISIN: JE00B6Y3DV84 | ||||||
| b) | Nature of the transaction | Grant of Share options | ||||||
| c) | Price(s) and volume(s) |
| ||||||
| d) | Aggregated information | n/a | ||||||
| e) | Date of the transaction | 3 February 2026 | ||||||
| f) | Place of the transaction | Outside a trading venue | ||||||
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |||||||
| a) | Name | Dominic Arcari | ||||||
| 2 | Reason for the notification | |||||||
| a) | Position/status | CRO | ||||||
| b) | Initial notification /Amendment | Initial notification | ||||||
| a) | Name | Cirata plc | ||||||
| b) | LEI | 213800Y1A75RSC698O04 | ||||||
| a) | Description of the financial instrument, type of instrument Identification code | Ordinary Shares 10p each ISIN: JE00B6Y3DV84 | ||||||
| b) | Nature of the transaction | Grant of Share options | ||||||
| c) | Price(s) and volume(s) |
| ||||||
| d) | Aggregated information | n/a | ||||||
| e) | Date of the transaction | 3 February 2026 | ||||||
| f) | Place of the transaction | Outside a trading venue |
[1] The share price 60-day VWAP is 20.5951 and is rounded to 20.6 pence per share
[2] Issued share capital as at the 4 February 2026 consisted of 126,447,055 ordinary shares of ten pence per share each with voting rights admitted to trading. The Company holds no ordinary shares in Treasury.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.