Grant of LTIP Awards
Helios Underwriting plc announced on December 4, 2025, that it granted Long Term Incentive Plan awards to persons discharging managerial responsibilities on December 3, 2025. The Chief Executive Officer, Louis Tucker, received 289,575 shares subject to performance criteria tied to total shareholder return, along with 28,015 and 36,043 shares without performance criteria, vesting in 2027 and 2028 respectively. The Head of Portfolio Strategy, Jen Tan, was granted 51,063 shares without performance criteria, vesting in October 2026. All awards were granted as nil cost options.
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Helios, the only publicly traded company offering instant access to a diverse portfolio of syndicates at Lloyd's of London, the world's largest insurance market, announces that on 3 December 2025 the following Awards over ordinary shares of 10 pence each in the Company were granted under the Helios Underwriting plc Long Term Incentive Plan to the following persons discharging managerial responsibilities:
| Participant | Position | Award Designation | Number of Shares under Award | Normal Vesting Date |
|---|---|---|---|---|
| Louis Tucker | Chief Executive Officer | LTIP Award with performance criteria | 289,575 | 03.12.2028 |
| Louis Tucker | Chief Executive Officer | LTIP Award without performance criteria | Part I: 28,015 Part II: 36,043 | Part I: 01.03.2027 Part II: 01.03.2028 |
| Jen Tan | Head of Portfolio Strategy | LTIP Award without performance criteria | 51,063 | 09.10.2026 |
The Awards were granted as nil cost options.
The Awards will ordinary vest on their associated Normal Vesting Date, subject to the grantee's continued service.
The Normal LTIP Award to Mr Tucker is subject to performance conditions. As summarised in the table immediately below; such performance conditions set threshold to stretch targets in respect of Company's total shareholder return ("TSR") over the three year period following the grant of the Normal LTIP Award. No portion of the Normal LTIP Award shall performance vest unless the Company's TSR over the performance period reaches the threshold target, for which 25% of the Normal LTIP Award would performance vest, rising on a straight line basis to full performance vesting of the Normal LTIP Award for the Company's TSR over the performance period being equal to the stretch target or better.
| The Company's TSR over the 3 year performance period | % of the Normal LTIP Award that vests |
|---|---|
| Less than 30% | Nil |
| 30% | 25% |
| 60% or more | 100% |
| Between 30% and 60% | Between 25% and 100% on a straight-line basis |
The Normal LTIP Award is also subject to an underpin condition.
The information set out below is provided in accordance with the requirements of UK MAR.
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | 1. Louis Tucker 2. Louis Tucker 3. Jen Tan |
| 2 | Reason for Notification | |
| a) | Position/status | 1. Chief Executive Officer 2. Chief Executive Officer 3. Head of Portfolio Strategy |
| b) | Initial notification/Amendment | Initial Announcement |
| a) | Name | Helios Underwriting plc |
| b) | LEI | 213800FX86DJW5TCM864 |
| a) | Description of the financial instrument, type of instrument Identification code | Ordinary Shares of 10 pence each ISIN - GB00B23XLS45 |
| b) | Nature of the transaction | Grant of options over ordinary shares under the Helios Underwriting plc Long Term Incentive Plan with an option price of nil pence per share. |
| c) | Price(s) and volume(s) | Price(s) Volume(s) 1. Nil 289,575 2. Nil Part I: 28,015 Part II: 36,043 Accordingly over a total of 64,058 3. Nil 51,063 |
| d) | Aggregated information - Aggregated volume - Price | Not applicable - single transactions Nil |
| e) | Date of the transaction | 3 December 2025 |
| f) | Place of the transaction | Outside a trading venue |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.