Award of Share Options to Executive Director
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Thruvision Group plc (AIM: THRU), ("Thruvision" ) the leading provider of walk-through security technology, announces that on 10 January 2024, Victoria Balchin (Chief Financial Officer) was awarded options under the Company Long Term Incentive Plan ("LTIP").
On 10 January 2024 the following awards over ordinary shares of 1 pence in Thruvision Group plc were granted under the Thruvision Group plc Long Term Incentive Plan to the Executive Director detailed below.
| Name | Type of option award | No of shares awarded | Exercise price on award | Market Value on award | Date of vesting |
|---|---|---|---|---|---|
| Victoria Balchin | EMI - Tax approved/ UK unapproved | 1,000,000 | £0.01 | £187,500 | 10 January 2027 |
The award was granted pursuant to a separate Award Agreement entered into between Thruvision Group plc and the Executive Director noted in the table above.
The award (regardless of whether it was granted as an EMI award or a non-tax advantaged award) will ordinarily become exercisable on the third anniversary of grant, subject to the grantee's continued service with Thruvision and will remain exercisable at any point up until the tenth anniversary of the date of grant.
In total 2,950,000 awards were made over ordinary shares of 1 pence in Thruvision Group plc to 6 employees on 10 January 2024 to retain and incentivise key members of the senior leadership team, with particular attention on recent hires to the organisation.
The notification in Appendix 1 to this announcement, made in accordance with the requirements of the Market Abuse Regulation, provides further detail:
Appendix 1
| 1. | Details of the person discharging managerial responsibilities/person closely associated | ||
| (a) | Name | Victoria Balchin | |
| 2. | Reason for the notification | ||
| (a) | Position/status | Chief Financial Officer | |
| (b) | Initial notification/ Amendment | Initial notification | |
| 3. | Details of the issuer | ||
| (a) | Name | Thruvision Group plc | |
| (b) | LEI | 213800IZG9GM6G2TZE04 | |
| (a) | Description of the Financial Instrument | Ordinary shares of £0.01 each in Thruvision Group plc | |
| (b) | Identification code of the Financial Instrument | GB00B627R876 | |
| (c) | Nature of the transaction | Entry into an Award Agreement pursuant to which a tax advantaged Enterprise Management Incentive Award was granted over 285,866 Ordinary Shares of 1 pence each in Thruvision Group plc and a non-tax advantaged option award over 714,134 Ordinary Shares of 1 pence each in Thruvision Group plc. The award was granted with an option price of £0.01 per share and will ordinarily become exercisable three years from the date of grant, subject to the grantee's continued service, and once exercisable may be exercised at any point up until the tenth anniversary of the date of grant. | |
| (d) | Price(s) and volume(s) | Price(s) | Volume(s) |
| nil | 1,000,000 | ||
| (e) | Aggregated information - Aggregated volume - Price | N/A | |
| (f) | Date of the transaction | 10 January 2024 | |
| (g) | Place of the transaction | Outside a trading venue |
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