Grant of LTIP Awards
Helios Underwriting Plc announced on June 5, 2026, that it granted Long Term Incentive Plan awards to three persons discharging managerial responsibilities on June 4, 2026. The Chief Executive Officer received 288,309 nil cost options, the Director of Finance and Operations received 110,278, and the Chief Underwriting Officer received 42,045, all vesting on June 4, 2029, subject to continued service and performance conditions related to total shareholder return.
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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 4 June 2026 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 | Number of Shares under Award | Normal Vesting Date |
|---|---|---|---|
| Louis Tucker | Chief Executive Officer | 288,309 | 4 June 2029 |
| Adhiraj Maitra | Director of Finance and Operations | 110,278 | 4 June 2029 |
| Jen Tan | Chief Underwriting Officer | 42,045 | 4 June 2029 |
The Awards were granted as nil cost options.
The Awards will ordinary vest on their Normal Vesting Date, subject to the grantee's continued service.
The Awards are 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 Awards. No portion of the Awards 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 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 15% | Nil |
| 15% to 45% | Between 25% and 100% on straight-line basis |
| 45% or more | 100% |
The Awards are 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. Adhiraj Maitra 3. Jen Tan |
| 2 | Reason for Notification | |
| a) | Position/status | 1. Chief Executive Officer 2. Director of Finance and Operations 3. Chief Underwriting Officer |
| 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 288,309 2. Nil 110,278 3. Nil 42,045 |
| d) | Aggregated information - Aggregated volume - Price | Not applicable - single transactions Nil |
| e) | Date of the transaction | 4 June 2026 |
| 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.