Grant of LTIP

RNS Number : 6579A

STV Group PLC

30 May 2019

 

STV Group plc Director shareholding                                                               30 May 2019 LEI: 21380075GOOTTBDNDJ58
The following share awards were granted 29 May 2019:
-   417,461 conditional nil cost share awards of 50p each to a total of ten employees under the STV Group plc Long-Term Incentive Plan ("LTIP") which was approved by shareholders on 26 April 2018.
The awards were granted at a price of £3.63 per ordinary share (the closing share price on Tues 28 May 2019) and these ten employees included two executive directors as follows:-
Director	Shares awarded
Simon Pitts, Chief Executive Officer	113,223
Lindsay Dixon, Chief Financial Officer	63,567

This award will vest in three years time subject to the continued employment of the participants and the satisfaction of the undernoted performance conditions and will be released following a further holding period of two years from the vesting date.

Performance conditions Weighting Threshold vesting (25% of max) Max vesting Annualised growth in adjusted EPS from FY18 to FY21 50% 5% 9% Non-broadcast operating profit in FY21 30% £8.0m £12.0m TSR relative to the FTSE Small Cap Index 20% Median Upper quartile Performance  period for each metric commences on 1/1/19 and ends on 31/12/21

Additionally, as previously announced on 11 December 2018, the final element of the buy-out of remuneration forfeited at his previous employer has been awarded to Simon Pitts.  Mr Pitts was awarded 57,020 shares and has sold 27,425 shares to cover the tax and NIC liability arising on this award.

Further enquiries:

Jane E A Tames

Company Secretary

STV Group plc

Tel: [phone]

 

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