Grant of Options and Vesting of Deferred Awards

RNS Number : 1909T

Jet2 PLC

20 July 2022

 

20 July 2022

Jet2 plc

("Jet2", the "Group" or the "Company")

Grant of Options under Share Reward Plan

and Vesting of Deferred Awards under Senior Executive Incentive Plan

Jet2 plc , the Leisure Travel group, announces that 2,114,466 options have today been granted under the Jet2 plc Share Reward Plan (the "Plan").

As previously announced, awards under the Plan take the form of options to acquire the Company's ordinary shares of 1.25p each ("Ordinary Shares") at the shares' nominal value and which will vest three years following the date of grant and will lapse ten years from the anniversary of the date of grant.  R ecipients must be employed and not be under notice given or received at vesting and must have worked and contributed throughout the vesting period. 

The total number of shares awarded under the Plan in 2022 represents 0.98%; the Company continues to operate all of its share plans within the 10% in 10 years share plans dilution limit.

Details of the awards to PDMRs under the Plan are as follows:

Director	Number of Options issued under the Plan
Stephen Heapy, Chief Executive Officer	87,591
Gary Brown, Group Chief Financial Officer	66,875

In addition, on 18 July 2022, Stephen Heapy and Gary Brown subscribed for 18,262 and 17,216 Ordinary Shares at 1.25p per Ordinary Share, respectively, pursuant to the vesting of a deferred award granted under the Senior Executive Incentive (Deferred Award) Plan representing the deferred element of the bonus earned for the financial year ended 31 March 2019.

In order to fund only the income tax, National Insurance liabilities and administrative fees arising on vesting, Stephen Heapy and Gary Brown subsequently sold 8,796 and 8,303 Ordinary Shares and retained the balance of 9,466 and 8,913 Ordinary Shares, respectively.

Following these transactions, Mr Heapy beneficially holds a total of 283,096 Ordinary Shares, representing approximately 0.13% of the Company's issued share capital, and Mr Brown beneficially holds a total of 102,599 Ordinary Shares, representing approximately 0.05% of the Company's issued share capital.

The notifications below, made in accordance with the requirements of the UK version of Regulation (EU) No 596/2014, provide further details.

For further information, please contact: Jet2 plc Philip Meeson, Executive Chairman Ian Day, Company Secretary Tel:  [phone] Cenkos Securities plc - Nominated Adviser Katy Birkin/Camilla Hume Tel:    [phone] Canaccord Genuity - Joint Broker Adam James Tel:  [phone] Jefferies International Limited - Joint Broker Ed Matthews Tel:  [phone] Buchanan - Financial PR Richard Oldworth Tel:  [phone]

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Stephen Heapy
2	Reason for the notification
a)	Position/status	Chief Executive Officer
b)	Initial notification/Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Jet2 plc
b)	LEI	I72RQ3PNLDPW8R7JIJ56
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	Ordinary shares of 1.25p each
	Identification code	GB00B1722W11
b)	Nature of the transaction	Grant of options under the Company's Share Reward Plan
c)	Price(s) and volumes(s)	Price(s)	Volume(s)
		£Nil	87,591
d)	Aggregated information	N/A single transaction
	Aggregated volume	N/A single transaction
	Price	N/A single transaction
e)	Date of the transaction	20 July 2022
f)	Place of the transaction	Outside of a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Gary Brown
2	Reason for the notification
a)	Position/status	Group Chief Financial Officer
b)	Initial notification/Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Jet2 plc
b)	LEI	I72RQ3PNLDPW8R7JIJ56
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	Ordinary shares of 1.25p each
	Identification code	GB00B1722W11
b)	Nature of the transaction	Grant of options under the Company's Share Reward Plan
c)	Price(s) and volumes(s)	Price(s)	Volume(s)
		£Nil	66,875
d)	Aggregated information	N/A single transaction
	Aggregated volume	N/A single transaction
	Price	N/A single transaction
e)	Date of the transaction	20 July 2022
f)	Place of the transaction	Outside of a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Stephen Heapy
2	Reason for the notification
a)	Position/status	Chief Executive Officer
b)	Initial notification/Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Jet2 PLC
b)	LEI	I72RQ3PNLDPW8R7JIJ56
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	Ordinary shares of 1.25p each
	Identification code	GB00B1722W11
b)	Nature of the transaction	Subscription for shares pursuant to the vesting of a deferred award granted under the Senior Executive Incentive (Deferred Award) Plan representing the deferred element of the bonus earned for the financial year ended 31 March 2019
c)	Price(s) and volumes(s)	Price(s)	Volume(s)
		£0.0125	18,262
d)	Aggregated information	N/A single transaction
	Aggregated volume	N/A single transaction
	Price	N/A single transaction
e)	Date of the transaction	18 July 2022
f)	Place of the transaction	XOFF

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Stephen Heapy
2	Reason for the notification
a)	Position/status	Chief Executive Officer
b)	Initial notification/Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Jet2 plc
b)	LEI	I72RQ3PNLDPW8R7JIJ56
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	Ordinary shares of 1.25p each
	Identification code	GB00B1722W11
b)	Nature of the transaction	Sale of Ordinary Shares received pursuant to the vesting of a deferred award under the Senior Executive Incentive (Deferred Award) Plan to fund only the income tax and National Insurance liabilities and administrative fees arising on vesting. The balance of 9,466 Ordinary Shares has been retained.
c)	Price(s) and volumes(s)	Price(s)	Volume(s)
		£9.048	8,796
d)	Aggregated information	N/A single transaction
	Aggregated volume	N/A single transaction
	Price	N/A single transaction
e)	Date of the transaction	20 July 2022
f)	Place of the transaction	XOFF

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Gary Brown
2	Reason for the notification
a)	Position/status	Group Chief Financial Officer
b)	Initial notification/Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Jet2 plc
b)	LEI	I72RQ3PNLDPW8R7JIJ56
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	Ordinary shares of 1.25p each
	Identification code	GB00B1722W11
b)	Nature of the transaction	Subscription for shares pursuant to the vesting of a deferred award granted under the Senior Executive Incentive (Deferred Award) Plan representing the deferred element of the bonus earned for the financial year ended 31 March 2019
c)	Price(s) and volumes(s)	Price(s)	Volume(s)
		£0.0125	17,216
d)	Aggregated information	N/A single transaction
	Aggregated volume	N/A single transaction
	Price	N/A single transaction
e)	Date of the transaction	18 July 2022
f)	Place of the transaction	XOFF

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Gary Brown
2	Reason for the notification
a)	Position/status	Group Chief Financial Officer
b)	Initial notification/Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Jet2 plc
b)	LEI	I72RQ3PNLDPW8R7JIJ56
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	Ordinary shares of 1.25p each
	Identification code	GB00B1722W11
b)	Nature of the transaction	Sale of Ordinary Shares received pursuant to the vesting of a deferred award under the Senior Executive Incentive (Deferred Award) Plan to fund only the income tax and National Insurance liabilities and administrative fees arising on vesting. The balance of 8,913 Ordinary Shares has been retained.
c)	Price(s) and volumes(s)	Price(s)	Volume(s)
		£9.037	8,303
d)	Aggregated information	N/A single transaction
	Aggregated volume	N/A single transaction
	Price	N/A single transaction
e)	Date of the transaction	19 July 2022
f)	Place of the transaction	XOFF

 

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