11 January 2016
IQE plc announces that on 7 January 2016 a grant of 17,625,562 deferred ordinary shares of 1 pence each ("Deferred Shares") was awarded under the Company's Long Term Incentive Plan (LTIP) to certain directors of the Group as detailed in the following table:
Name | Role | No. of Ordinary shares subject to award under the LTIP : | ||
2014 | 2015 | 2016 | ||
Dr A W Nelson | CEO | 1,879,701 | 2,806,628 | 2,846,633 |
Mr P J Rasmussen | CFO | 1,258,728 | 1,880,385 | 1,907,187 |
Dr H R Williams | COO | 1,258,728 | 1,880,385 | 1,907,187 |
These awards relate to the LTIP years 2014, 2015 and 2016. All of these Deferred Sharesare subject to the achievement of performance criteria over the three year vesting period ending on 1 January 2019. The performance criteria, which were determined using independent benchmarking studies, include the attainment of EPS growth rate targets with lower and upper measurement thresholds of RPI+4% to RPI+10%. These Deferred Shares may be reduced or lapsed in the event of misconduct, known as 'malus' provisions.
Contacts:
IQE plc +44 (0) 29 2083 9400
Drew Nelson
Simon Gibson
Canaccord Genuity (Nomad and Joint Broker) + 44 (0) 20 7523 8000
Simon Bridges
Cameron Duncan
Peel Hunt (Joint Broker) +44 (0) 20 7418 8900
Richard Kauffer
Euan Brown
Capital Access Group +44 (0) 20 3763 3400
Simon Courtenay
Harry Rippon