Long Term Incentive Plan
LTIP awards granted in 2021 vested for CFO Mark Hoad; 115,147 shares acquired, 54,120 sold for tax.
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TT Electronics Long Term Incentive Plan ("LTIP"): vesting of 2021 Awards and related sales.
On 18 March 2024, certain conditional share awards granted over the ordinary shares of 25 pence each ("Shares") in the capital of the Company on 16 March 2021 were settled to the extent they vested.
The table below shows the number of related Shares acquired by the remaining Executive Director entitled to receive Shares under the award, the number of Shares sold to satisfy the tax and national insurance liabilities, and the number of Shares retained following the sales.
| Executive Director | Shares Vested | Shares sold to satisfy tax and NI liabilities | Shares retained | Resultant beneficial interest in the Company's shares |
|---|---|---|---|---|
| Mark Hoad | 115,147 | 54,120 | 61,027 | 873,226 1 |
1 M Hoad's beneficial interest includes shares held by a PCA, Tracy Hoad.
The Company makes this announcement, including the notifications below, in accordance with the requirements of the EU Market Abuse Regulation.
| 1. | Details of PDMR / person closely associated with them ('PCA') | |
| a) | Name | 1) Mark Hoad |
| 2. | Reason for the notification | |
| a) | Position / status | 1) CFO |
| b) | Initial notification / Amendment | Initial notification |
| a) | Name | TT Electronics plc |
| b) | LEI | 213800TJGBW5VFHQEV54 |
| 4. | Details of the transaction(s) | |
| a) | Description of the financial instrument, type of instrument Identification Code | Ordinary shares of 25p each GB0008711763 |
| b) | Nature of the transaction | Acquisition of ordinary shares arising in connection with the settlement of Long Term Incentive Plan award granted on 16 March 2021 |
| c) | Price(s) and volume(s) | Price(s) Volume(s) 1) £0.00 1) 115,147 |
| d) | Aggregated information Aggregated volume Price | 115,147 £0.00 |
| e) | Date of the transaction | 2024-03-19 |
| f) | Place of the transaction | Outside a trading venue |
| 1. | Details of PDMR / person closely associated with them ('PCA') | |
| a) | Name | 1) Mark Hoad |
| 2. | Reason for the notification | |
| a) | Position / status | 1) CFO |
| b) | Initial notification / amendment | Initial notification |
| a) | Name | TT Electronics plc |
| b) | LEI | 213800TJGBW5VFHQEV54 |
| 4. | Details of the transaction(s) | |
| a) | Description of the financial instrument, type of instrument Identification Code | Ordinary shares of 25p each GB0008711763 |
| b) | Nature of the transaction | Disposal of shares to satisfy tax and NI liabilities in respect of the settlement of Long Term Incentive Plan award granted on 16 March 2021 |
| c) | Price(s) and volume(s) | Price(s) Volume(s) 1) £1.563 1) 54,120 |
| d) | Aggregated information Aggregated volume Price | 54,120 £1.563 |
| e) | Date of the transaction | 2024-03-19 |
| f) | Place of the transaction | London Stock Exchange |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.