Grant of LTIP, RSP and DBP awards
XP Power Limited announced on March 10, 2026, that Executive Directors Gavin Griggs, Matt Webb, and Andy Sng received awards under the Restricted Share Plan, Long Term Incentive Plan, and Deferred Bonus Plan. These awards, based on a five-day average share price of £13.492, include nominal priced options and nil cost share options, with vesting periods ranging from two to five years and some subject to performance conditions. Specifically, Gavin Griggs received a total of 5,439 shares under the RSP, 43,514 under the LTIP, and 12,836 under the DBP, for an aggregate of 61,789 shares. Matt Webb was awarded 4,198 shares under the RSP, 33,590 under the LTIP, and 7,927 under the DBP, totaling 45,715 shares. Andy Sng received 2,143 shares under the RSP, 10,715 under the LTIP, and 3,000 under the DBP, amounting to 15,858 shares. These grants were made in accordance with the approved Directors' Remuneration Policy.
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The Company announces that on 10 March 2026, Executive Directors of the Company, Gavin Griggs, Matt Webb and Andy Sng, were awarded nominal priced options over ordinary shares of 1
pence each in the Company (“Ordinary Shares”), under the XP Power Limited Restricted Share Plan 2020 (the “RSPs”) and the XP Power Limited Long Term Incentive Plan 2017 (the “LTIPs”). The RSPs are subject to a five
-
year vesting period, with no performance conditions attached. The vesting of the LTIPs, after five years, is conditional on meeting performance conditions measured at the end of a three-year period.
Awards were further granted on 10 March 2026 to the Executive Directors of the Company under the XP Power Limited Deferred Bonus Plan 2017 (the “DBP”). These awards relate to the compulsory deferral into share awards of 50% of their earned FY25 bonus, which vest after two years. Full details of the FY25 bonus outcome will be set out in the FY25 Annual Report.
The five-day average of the closing mid-market quotation prior to the date of grant used to calculate the number of options granted under the LTIP, RSP and DBP, was £13.492.
All awards were made in accordance with the approved Directors’ Remuneration Policy.
| 1 | Details of the person discharging managerial responsibilities | ||
| a) | Name | Gavin Griggs | |
| 2 | Reason for the notification | ||
| a) | Position/status | Chief Executive Officer (PDMR) | |
| b) | Initial notification /Amendment | Initial Notification | |
| a) | Name | XP POWER LIMITED | |
| b) | LEI | 213800I7RWQ3FV72EZ26 | |
| a) | Description of the financial instrument, type of instrument Identification code | Ordinary shares of £0.01 each (“Ordinary Shares”) SG9999003735 | |
| b) | Nature of the transaction | 1) | Award of nominal value options over Ordinary Shares as part of the XP Power Limited Restricted Share Plan 2020. The vesting of the award after five years is not subject to performance conditions. There is no price payable on the grant or vesting of the option. On exercise, the option price of £0.01 per share is payable. |
| 2) | Award of nominal value options over Ordinary Shares as part of the XP Power Limited Long Term Incentive Plan 2017. The potential vesting of the award after five years is subject to the achievement of performance conditions assessed at the end of a three - year period. There is no price payable on the grant or vesting of the option. On exercise, the option price of £0.01 per share is payable. | ||
| 3) | Grant of nil cost share option award over Ordinary Shares under the XP Power Limited Deferred Bonus Plan 2017. The vesting of the award after two years is not subject to performance conditions. There is no price payable on the grant, vesting or exercise of the option. | ||
| c) | Price(s) and volume(s) | Price(s) Volume(s) 1) Nil 5,439 2) Nil 43,514 3) Nil 12,836 | |
| d) | Aggregated information - Aggregated volume - Price | 61,789 Nil | |
| e) | Date of the transaction | 10 March 2026 | |
| f) | Place of the transaction | Outside a trading venue | |
| 1 | Details of the person discharging managerial responsibilities | ||
| a) | Name | Matthew Webb | |
| 2 | Reason for the notification | ||
| a) | Position/status | Chief Financial Officer (PDMR) | |
| b) | Initial notification /Amendment | Initial Notification | |
| a) | Name | XP POWER LIMITED | |
| b) | LEI | 213800I7RWQ3FV72EZ26 | |
| a) | Description of the financial instrument, type of instrument Identification code | Ordinary shares of £0.01 each (“Ordinary Shares”) SG9999003735 | |
| b) | Nature of the transaction | 1) | Award of nominal value options over Ordinary Shares as part of the XP Power Limited Restricted Share Plan 2020. The vesting of the award after five years is not subject to performance conditions. There is no price payable on the grant or vesting of the option. On exercise, the option price of £0.01 per share is payable. |
| 2) | Award of nominal value options over Ordinary Shares as part of the XP Power Limited Long Term Incentive Plan 2017. The potential vesting of the award after five years, is subject to the achievement of performance conditions assessed at the end of a three - year period. There is no price payable on the grant or vesting of the option. On exercise, the option price of £0.01 per share is payable. | ||
| 3) | Grant of nil cost share option award over Ordinary Shares under the XP Power Limited Deferred Bonus Plan 2017. The vesting of the award after two years is not subject to performance conditions. There is no price payable on the grant, vesting or exercise of the option. | ||
| c) | Price(s) and volume(s) | Price(s) Volume(s) 1) Nil 4,198 2) Nil 33,590 3) Nil 7,927 | |
| d) | Aggregated information - Aggregated volume - Price | 45,715 Nil | |
| e) | Date of the transaction | 10 March 2026 | |
| f) | Place of the transaction | Outside a trading venue | |
| 1 | Details of the person discharging managerial responsibilities | ||
| a) | Name | Andy Sng | |
| 2 | Reason for the notification | ||
| a) | Position/status | Executive Vice President, Asia (PDMR) | |
| b) | Initial notification /Amendment | Initial Notification | |
| a) | Name | XP POWER LIMITED | |
| b) | LEI | 213800I7RWQ3FV72EZ26 | |
| a) | Description of the financial instrument, type of instrument Identification code | Ordinary shares of £0.01 each (“Ordinary Shares”) SG9999003735 | |
| b) | Nature of the transaction | 1) | Award of nominal value options over Ordinary Shares as part of the XP Power Limited Restricted Share Plan 2020. The vesting of the award after five years is not subject to performance conditions. There is no price payable on the grant or vesting of the option. On exercise, the option price of £0.01 per share is payable. |
| 2) | Award of nominal value options over Ordinary Shares as part of the XP Power Limited Long Term Incentive Plan 2017. The potential vesting of the award after five years, is subject to the achievement of performance conditions assessed at the end of a three - year period. There is no price payable on the grant or vesting of the option. On exercise, the option price of £0.01 per share is payable. | ||
| 3) | Grant of nil cost share option award over Ordinary Shares under the XP Power Limited Deferred Bonus Plan 2017. The vesting of the award after two years is not subject to performance conditions. There is no price payable on the grant, vesting or exercise of the option. | ||
| c) | Price(s) and volume(s) | Price(s) Volume(s) 1) Nil 2,143 2) Nil 10,715 3) Nil 3,000 | |
| d) | Aggregated information - Aggregated volume - Price | 15,858 Nil | |
| e) | Date of the transaction | 10 March 2026 | |
| f) | Place of the transaction | Outside a trading venue |
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