Share Option Awards
Share options granted to directors and senior managers totalling 669,000 shares at 62.5p exercise price.
- Share options granted 669,000
- Exercise price per share 62.5p
- Percentage of issued share capital 8.8%
- Vesting price targets 75p, 90p, 110p
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Sorted (AIM: SORT), a leading provider of delivery experience and post-purchase technology, announces the implementation of new share incentive awards ("New Awards") under the existing Sorted Group Holdings plc Share Option Plan to retain and incentivise key management personnel. The New Awards are being made to one Director of the Company, certain persons discharging managing responsibility ("PDMR"), as detailed below, together with several members of the senior management team.
The New Awards comprise the grant of a total of 669,000 new share options over ordinary shares of 62.5 pence each in the Company ("Ordinary Shares") (together the "Options"). The Options are subject to vest one third each on the first, second and third anniversary of the date of grant, subject to the Company achieving a minimum share price performance target of 75p, 90p and 110p respectively, in each case measured against the average closing mid-market price of an Ordinary Shares over the prior 30 days.
The Options have an exercise price of 62.5p and a ten-year life span from date of grant and can be exercised any time after the vesting conditions, outlined above, have been met. Any Ordinary Shares acquired on exercise of the Options must be held for a minimum of twelve months thereafter.
Following the grant of the Options, the total number of Ordinary Shares under option is 669,000, representing approximately 8.8% of the Company's current issued ordinary share capital.
@SortedOfficial
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | 1. Mahmoud Warriah 2. Paul Hill 3. Victoria Hill 4. Russell Waite 5. Steve Allen |
| 2 | Reason for the notification | |
| a) | Position/status | 1. Chief Financial Officer (Director) 2. Product Director (PDMR) 3. Carrier Director (PDMR) 4. Engineering Director (PDMR) 5. Dealer Principal (PDMR) |
| b) | Initial notification /Amendment | Initial notification |
| a) | Name | Sorted Group Holdings Plc |
| b) | LEI | 213800MKYV25HW2IAX70 |
| a) | Description of the financial instrument, type of instrument Identification code | Ordinary shares of 62.5 pence each in Sorted Group Holdings Plc ("Ordinary Shares") Identification code (ISIN) for Ordinary Shares: GB00BPDX2041 |
| b) | Nature of the transaction | Grant of options over Ordinary Shares |
| c) | Price(s) and volume(s) | Price(s) Volume(s) 1. 62.5p 2. 62.5p 3. 62.5p 4. 62.5p 5. 62.5p 1. 115,000 2. 115,000 3. 115,000 4. 115,000 5. 38,000 |
| d) | Aggregated information: - Aggregated volume - Price | N/A |
| e) | Date of the transaction | 5 December 2024 |
| f) | Place of the transaction | Outside of a trading venue |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.