PDMR LTIP Awards
LTIP awards of nil-cost options made to nine PDMRs on 3 October 2023, vesting subject to continued employment.
- CEO LTIP Award (Shaun Morton) 409,441 shares
- CFO LTIP Award (Jon Wormald) 255,298 shares
- CMO LTIP Award (Zoe Harris) 317,919 shares
- Total PDMR awards 2,455,595 shares
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The notifications below are all in accordance with the requirements of Article 19 (3) of the EU Market Abuse Regulation 596/2014 and the dealings were in respect of ordinary shares of 1 pence each ("Shares") in the share capital of On the Beach Group plc.
On 3 October 2023, awards over Shares ("FY24 Awards") were made under the On the Beach Group plc Long Term Incentive Plan ("LTIP"). The Awards, made for nil consideration, are nil-cost options established in accordance with the LTIP rules. There are no performance targets applicable to the Awards but vesting is subject to continued employment.
Under the Directors' Remuneration Policy and LTIP rules, the Remuneration Committee has discretion to adjust the vesting level of awards. In making its assessment at the end of the vesting period, the Remuneration Committee will take into account factors including (but not limited to) the shareholder experience and to what extent the outcome incorporates any windfall gain which may warrant adjustment.
| PDMR | Role | Number of Shares over which Awards made |
|---|---|---|
| Shaun Morton | Chief Executive Officer | 409,441 |
| Jon Wormald | Chief Financial Officer | 255,298 |
| Zoe Harris | Chief Marketing Officer | 317,919 |
| Adam Hansen | Chief Strategy Officer | 222,543 |
| Bill Allen | Chief Supply Officer | 215,110 |
| Kasia Michalska | Chief Technology & Product Officer | 260,115 |
| Andy Freeth | CEO, Classic Collection & Classic Package Holidays | 240,847 |
| Jennie Cronin | Director of People | 161,849 |
| Kirsteen Vickerstaff | General Counsel and Company Secretary | 172,473 |
| 1. | Details of PDMR / person closely associated with them ("PCA") | |
| a) | Name | SHAUN MORTON JON WORMALD ZOE HARRIS ADAM HANSEN BILL ALLEN KASIA MICHALSKA ANDY FREETH JENNIE CRONIN KIRSTEEN VICKERSTAFF |
| 2. | Reason for the notification | |
| a) | Position / status | SHAUN MORTON- CHIEF EXECUTIVE OFFICER JON WORMALD - CHIEF FINANCIAL OFFICER ZOE HARRIS- CHIEF MARKETING OFFICER ADAM HANSEN - CHIEF STRATEGY OFFICER BILL ALLEN- CHIEF SUPPLY OFFICER KASIA MICHAELSKA - CHIEF TECHNOLOGY & PRODUCT OFFICER ANDY FREETH - CEO, CLASSIC COLLECTION & CLASSIC PACKAGE HOLIDAYS JENNIE CRONIN- DIRECTOR OF PEOPLE KIRSTEEN VICKERSTAFF - GENERAL COUNSEL AND COMPANY SECRETARY |
| b) | Initial notification / amendment | Initial Notification |
| a) | Name | On the Beach Group plc |
| b) | LEI | 213800K51Y9BZY7F9R69 |
| a) | Description of the financial instrument Identification code | Ordinary shares of 1 pence GB00BYM1K758 |
| b) | Nature of the transaction | Awards made pursuant to the On the Beach Group plc Long Term Incentive Plan ("LTIP") |
| c) | Price(s) and volume(s) | Price(s) Volume(s) Nil SHAUN MORTON - 409,441 Nil JOHN WORMALD - 255,298 Nil ZOE HARRIS - 317,919 Nil ADAM HANSEN - 222,543 Nil BILL ALLEN - 215,110 Nil KASIA MICHAELSKA - 260,115 Nil ANDY FREETH - 240,847 Nil JENNIE CRONIN - 161,849 Nil KIRSTEEN VICKERSTAFF - 172,473 |
| d) | Aggregated information - Aggregated volume - Price | N/A |
| e) | Date of the transaction | 3 October 2023 |
| 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.