Growth Long Term Incentive Plan
Xeros Technology Group plc has announced a new Growth Long Term Incentive Plan (LTIP) involving the grant of share options to senior executives and directors, with a three-year performance period and vesting contingent on achieving specific share price targets: 50% vesting at 3.5p, 25% at 10p, and 25% at 17.5p, all exercisable at 1.75p. Key individuals receiving awards include CEO Neil Austin with 26,170,731 options, Finance Director Alex Tristram with 3,938,759 options, Non-Executive Chairman Klaas de Boer with 8,618,608 options, and Non-Executive Director David Armfield with 4,309,304 options, all granted on August 12, 2026.
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Xeros Technology Group plc (AIM: XSG), the creator of technologies that reduce the impact of clothing on the planet, announces a grant of options under the Group’s existing discretionary employee share option plan (the 2020 Share Option Plan)(the “Awards”).
These Awards will come under the umbrella term “Growth LTIP” and are subject to Performance Hurdles. The new Awards have a three-year performance period from the date of grant, during which the vesting of these Awards is subject to new targets also detailed below. The Group has reviewed its existing share option arrangements following feedback from key investors.
The Growth LTIP aims to ensure that selected senior executives and the Directors of the Company who are key for the long-term success of the business are retained and incentivised. The Board/Remuneration Committee believe that the new Awards better reflect the growth potential and ambitions of the Group, and more closely align the interests of the Board and management team with shareholders.
The Awards vest subject to the meeting of share price targets as set out below during the initial three-year performance period. The Awards will be considered vested if the Company’s share price reaches the target for any 10 consecutive trading dates. Should the share price criteria be met, the Awards then become exercisable in three equal tranches. The first tranche can be exercised at the end of the performance period, and the following two tranches can be exercised on the first and second anniversary of the end of the performance period, respectively.
The Awards are exercisable at a price of 1.75p.
New awards
| Share Price Target | Percentage of the award that may vest | ||||||
| 3.5p | 50% | ||||||
| 10p | 25% | ||||||
| 17.5p | 25% | ||||||
| Proposed Share Awards to PDMRs | |||||||
| Name | Role | Current Options | Options to be awarded | ||||
| Neil Austin | CEO | 16,922,308 | 26,170,731 | ||||
| Alex Tristram | Finance Director | 4,686,178 | 3,938,759 | ||||
| Klaas de Boer | Non-Executive Chairman | - | 8,618,608 | ||||
| David Armfield | Non-Executive Director | - | 4,309,304 | ||||
| a) | Name | Mr Klaas de Boer | |||||
| 2 | Reason for the notification | ||||||
| a) | Position/status | Chairman | |||||
| b) | Initial notification /Amendment | Initial Notification | |||||
| a) | Name | Xeros Technology Group Plc | |||||
| b) | LEI | 2138009F3U39GVY7DG06 | |||||
| a) | Description of the financial instrument, type of instrument Identification code | Ordinary shares of £0.001 each GB00BMGYBJ57 | |||||
| b) | Nature of the transaction | Grant of Options | |||||
| c) | Price(s) and volume(s) |
| |||||
| d) | Aggregated information - Aggregated volume - Price | n/a | |||||
| e) | Date of the transaction | 12 August 2026 | |||||
| f) | Place of the transaction | Outside a trading venue | |||||
| 1 | Details of the person discharging managerial responsibilities / person closely associated | ||||||
| a) | Name | Mr Neil Austin | |||||
| 2 | Reason for the notification | ||||||
| a) | Position/status | Chief Executive Officer | |||||
| b) | Initial notification /Amendment | Initial Notification | |||||
| a) | Name | Xeros Technology Group Plc | |||||
| b) | LEI | 2138009F3U39GVY7DG06 | |||||
| a) | Description of the financial instrument, type of instrument Identification code | Ordinary shares of £0.001 each GB00BMGYBJ57 | |||||
| b) | Nature of the transaction | Grant of Options | |||||
| c) | Price(s) and volume(s) |
| |||||
| d) | Aggregated information - Aggregated volume - Price | n/a | |||||
| e) | Date of the transaction | 12 August 2026 | |||||
| f) | Place of the transaction | Outside a trading venue | |||||
| 1 | Details of the person discharging managerial responsibilities / person closely associated | ||||||
| a) | Name | Mr Alexander Tristram | |||||
| 2 | Reason for the notification | ||||||
| a) | Position/status | Finance Director | |||||
| b) | Initial notification /Amendment | Initial Notification | |||||
| a) | Name | Xeros Technology Group Plc | |||||
| b) | LEI | 2138009F3U39GVY7DG06 | |||||
| a) | Description of the financial instrument, type of instrument Identification code | Ordinary shares of £0.001 each GB00BMGYBJ57 | |||||
| b) | Nature of the transaction | Grant of Options | |||||
| c) | Price(s) and volume(s) |
| |||||
| d) | Aggregated information - Aggregated volume - Price | n/a | |||||
| e) | Date of the transaction | 12 August 2026 | |||||
| f) | Place of the transaction | Outside a trading venue | |||||
| 1 | Details of the person discharging managerial responsibilities / person closely associated | ||||||
| a) | Name | Mr David Armfield | |||||
| 2 | Reason for the notification | ||||||
| a) | Position/status | Non-Executive Director | |||||
| b) | Initial notification /Amendment | Initial Notification | |||||
| a) | Name | Xeros Technology Group Plc | |||||
| b) | LEI | 2138009F3U39GVY7DG06 | |||||
| a) | Description of the financial instrument, type of instrument Identification code | Ordinary shares of £0.001 each GB00BMGYBJ57 | |||||
| b) | Nature of the transaction | Grant of Options | |||||
| c) | Price(s) and volume(s) |
| |||||
| d) | Aggregated information - Aggregated volume - Price | n/a | |||||
| e) | Date of the transaction | 12 August 2026 | |||||
| f) | Place of the transaction | Outside a trading venue | |||||
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