Long Term Incentive Plan / PDMR Notification
CFO granted 2,433,824 LTIP options with vesting conditional on TSR performance targets.
- LTIP Options granted to CFO 2,433,824
- Reference price for TSR calculation 17p
- Minimum CAGR TSR for vesting 10%
- Full vesting CAGR TSR 22.5%
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hVIVO plc (AIM & Euronext: HVO), a rapidly growing specialist contract research organisation (CRO) and world leader in testing infectious and respiratory disease products using human challenge clinical trials, announces that the Company has granted options to Stephen Pinkerton, Chief Financial Officer, under its Long Term Incentive Plan ("LTIP").
The LTIP has been designed to reward, incentivise and retain Mr Pinkerton to deliver sustainable growth for shareholders. Under the rules of the LTIP, the deemed date of award is 1 February 2023 following his appointment to the role in October 2022. Under the LTIP, Mr Pinkerton has been awarded 2,433,824 nominal cost long term incentive options ("LTIP Options") over ordinary shares of £0.001 each in the Company.
Vesting of the LTIP Options is conditional upon a three-year total shareholder return ("TSR") performance against an initial 17p reference price. The LTIP Options will vest on the third anniversary of the date of award subject to the achievement of a minimum 10% CAGR TSR performance increasing on a straight-line basis to vesting in full subject to the achievement of a 22.5% CAGR TSR performance.
| a. | Name of PDMR | Stephen Pinkerton | |
| 2 | Reason for notification | ||
| a. | Position/Status | CFO | |
| b. | Initial notification/ Amendment | Initial | |
| a. | Name | hVIVO plc | |
| b. | LEI | 213800VT5KBM7JLIV118 | |
| a. | Description of the financial instrument, type of instrument Identification Code | Ordinary shares of £0.001 each ESVUFR ISIN GB00B9275X97 | |
| b. | Nature of the transaction | Grant of options under LTIP | |
| c. | Price(s) and volume(s) | Price(s) | Volume(s) |
| 0.001 | 2,433,824 | ||
| d. | Aggregated information - Aggregated Volume - Price | 2,433,824 0.001 | |
| f. | Place of the transaction | Outside a trading venue |
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