Award of Options
CEO and CFO awarded LTIP share options vesting in December 2027 subject to EPS and TSR targets.
- Options awarded to Chris Barnes 82,774
- Options awarded to Andy Kelly 57,046
- Total options authority 319,000
- Exercise price 0.4p
- Total outstanding options 841,715
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Tracsis, a leading transport technology provider, announces that following a meeting of the Group's Remuneration Committee, on 22 January 2025 it awarded 82,774 share options to Chris Barnes, Chief Executive Officer and PDMR of the Company and 57,046 share options to Andy Kelly, Chief Financial Officer and PDMR of the Company.
In addition to the above, authority was provided to the Executive Directors to award share options to other senior managers who are not PDMRs of the Company, resulting in a total award not exceeding 319,000 shares (including those awarded to the Executive Directors).
Subject to performance conditions and vesting, these options will become exercisable on 1 December 2027.
This award is part of Tracsis' Long Term Incentive Plan (LTIP) and is designed to retain and motivate the senior leadership team whilst at the same time setting challenging performance targets that are specifically aligned with the Group's strategic goals and shareholder interests.
The options awarded have an exercise price of 0.4p and are directly linked to performance targets based on Group profitability and Total Shareholder Return relative to an AIM peer group determined by Tracsis' Remuneration Committee.
The full award is only exercisable should the compound annual growth rate for adjusted diluted Earnings Per Share (EPS) for the year ending 31 July 2027 compared with the same measure for the year ending 31 July 2024 be at least 27%, and Total Shareholder Return (TSR) versus AIM peer group is in the top quartile. Where the compound annual growth rate for adjusted diluted EPS for the year ending 31 July 2027 compared with the same measure for the year ending 31 July 2024 is less than 17%, and TSR versus the peer group is less than the median, no options will be exercisable. For scenarios between the above range, the options will be exercisable on a straight line sliding scale basis.
The resulting interests of Chris Barnes and Andy Kelly in Tracsis can be summarised as follows:
| Director | Ordinary shares of 0.4p held | % of issued share capital | LTIP Options held prior to this award | LTIP Options awarded | LTIP Options after this award |
|---|---|---|---|---|---|
| Chris Barnes | 44,305 | 0.15% | 70,371 | 82,774 | 153,145 |
| Andy Kelly | 12,996 | 0.04% | 48,058 | 57,046 | 105,104 |
Following the award, there are a total of 841,715 options outstanding, representing approximately 2.8% of the current issued share capital of the Company
| Tracsis plc Jan Mitson Group Company Secretary | +44 (0)845 125 9162 | |||||
| Berenberg (Nominated Adviser, Corporate Broker & Financial Adviser) Mark Whitmore / Richard Andrews / Mollie D'Arcy Rice James Thompson (QE) | +44 (0)20 3207 7800 | |||||
| Transaction Details - Chris Barnes | ||||||
| 1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name: | Chris Barnes | ||||
| 1. | Reason for the notification | |||||
| a) | Position/status: | Chief Executive Officer | ||||
| b) | Initial notification/Amendment: | Initial notification | ||||
| a) | Name: | Tracsis plc | ||||
| b) | LEI: | 2138005I15G3HBN2WD92 | ||||
| a) | Description of the financial instrument, type of instrument: Identification code: | Ordinary Shares of 0.4 pence each GB00B28HSF71 | ||||
| b) | Nature of the transaction: | Award of LTIP options | ||||
| c) | Price(s) and volume(s): |
| ||||
| d) | Aggregated information: · Aggregated volume: · Price: | As above | ||||
| e) | Date of the transaction: | 22 January 2025 | ||||
| f) | Place of the transaction: | Away from a trading venue | ||||
| Transaction Details - Andy Kelly | ||||||
| 1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name: | And y Kelly | ||||
| 1. | Reason for the notification | |||||
| a) | Position/status: | Chief Financial Officer | ||||
| b) | Initial notification/Amendment: | Initial notification | ||||
| a) | Name: | Tracsis plc | ||||
| b) | LEI: | 2138005I15G3HBN2WD92 | ||||
| a) | Description of the financial instrument, type of instrument: Identification code: | Ordinary Shares of 0.4 pence each GB00B28HSF71 | ||||
| b) | Nature of the transaction: | Award of LTIP options | ||||
| c) | Price(s) and volume(s): |
| ||||
| d) | Aggregated information: · Aggregated volume: · Price: | As above | ||||
| e) | Date of the transaction: | 22 January 2025 | ||||
| f) | Place of the transaction: | Away from a trading venue | ||||
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