Grant of LTIP and RSP awards
XP Power Limited announced on April 30, 2026, that Executive Directors Gavin Griggs and Matt Webb received nominal priced options under the Restricted Share Plan and Long Term Incentive Plan. The five-day average closing price used for calculation was £15.66. Gavin Griggs was awarded 937 RSP options and 7,498 LTIP options, while Matt Webb received 723 RSP options and 5,787 LTIP options. These awards bring the total FY26 LTIP grants to permitted levels, with RSP awards vesting after five years without performance conditions and LTIP awards vesting after five years contingent on three-year performance metrics.
Select text to share a quote on X · sign in to keep highlights & notes in your XPP notes
The Company announces that on 30 April 2026, Executive Directors of the Company, Gavin Griggs and Matt Webb, 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.
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 and RSP, was £15.66.
These grants represent the additional awards to bring the overall LTIP awards granted in FY26 up to the levels permitted within the Directors’ Remuneration Policy approved at the 2026 AGM, as disclosed in the Directors Remuneration Report, with the same vesting conditions as per the awards granted on 10 March 2026.
| 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. | ||
| c) | Price(s) and volume(s) | Price(s) Volume(s) 1) Nil 937 2) Nil 7,498 | |
| d) | Aggregated information - Aggregated volume - Price | 8,435 Nil | |
| e) | Date of the transaction | 30 April 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. | ||
| c) | Price(s) and volume(s) | Price(s) Volume(s) 1) Nil 723 2) Nil 5,787 | |
| d) | Aggregated information - Aggregated volume - Price | 6,510 Nil | |
| e) | Date of the transaction | 30 April 2026 | |
| f) | Place of the transaction | Outside a trading venue |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.