Performance Share Plan
CEO awarded 197,500 share options under Performance Share Plan 2023 at 50p exercise price.
- Share Options awarded to CEO 197,500
- Exercise Price 50p
- Total director and employee options in place 627,500
- Vesting date 6 March 2028
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LPA Group plc, the innovation-led engineering specialist in electronic and electro-mechanical components and systems, announces the award of share options over ordinary shares in the Company (the "Share Options") under the LPA Group plc Performance Share Plan 2023 ("PSP 2023") to the following director (the "Award Holder"), as follows:
| Director | Position | Number of Options | Exercise Price | Total Number of Options held following this award |
|---|---|---|---|---|
| Philo Daniel-Tran | CEO | 197,500 | 50p | 197,500 |
Under the terms of the PSP 2023, the Share Options are exercisable from 6 March 2028 subject to three increasingly targeted performance hurdles which are related to earnings per share and market capitalization. Following vesting there is a one year holding period (excluding any ordinary shares sold to pay tax due at exercise). The Share Options are subject to clawback and malus provisions.
In addition, the performance hurdles for the 125,000 options issued in July 2023 to the CFO have been adjusted in order for them to remain a long term incentive.
It is the expectation of the Company that the LPA Employee Benefits Trust (the "EBT") will satisfy the awards when exercised. In the event that the EBT does not satisfy the awards when exercised, the Company will do so through an issue of new ordinary shares to the Award Holder.
As a result of the grant of the Share Options, there are now a total of 627,500 options over ordinary shares in place for directors and employees of LPA.
The information below (set out in accordance with the requirements of UK Market Abuse Regulation) provides further detail:
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) | Name | Philo Daniel-Tran | |
| 2 | Reason for the notification | ||
| a) | Position/status | CEO | |
| b) | Initial notification /Amendment | Initial Notification | |
| a) | Name | LPA Group plc | |
| b) | LEI | 2138007S67YLDN6CEF21 | |
| a) | Description of the financial instrument, type of instrument Identification code | Ordinary shares of 10p each GB0007320806 | |
| b) | Nature of the transaction | Issue of Options | |
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| 50p | 197,500 | ||
| d) | Aggregated information - Aggregated volume - Price | N/A | |
| e) | Date of the transaction | 5 March 2025 | |
| f) | Place of the transaction | Outside a trading venue | |
| g) | Additional Information | N/A |
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