Exercise of 2017 LTIP award by Executive Directors

RNS Number : 2388O

Vitec Group PLC (The)

28 May 2020

 

28 May 2020

THE VITEC GROUP PLC

Notification of Transactions of Directors and Persons Discharging Managerial Responsibility (PDMRs)

Exercise of 2017 LTIP awards by Executive Directors

The Vitec Group plc ("the Company") announces that, on 28 May 2020, the following Executive Directors had the following share dealings in the Company. 

Stephen Bird - Group Chief Executive

Exercised an award made on 15 May 2017 under the Long Term Incentive Plan that vested on the basis that 72.06% of the performance conditions tied to the award had been achieved:

Number of Ordinary shares acquired for nil consideration (including associated dividend shares)	Number of Ordinary shares disposed to cover taxes	Price per Ordinary share at which shares sold (closing mid-market price on 27 May 2020)	Number of Ordinary shares retained
64,718	30,418	£6.84	34,300

The retained Ordinary shares will be held for at least a further two-year holding period.

Following the above dealings, Stephen Bird has increased his holding to 307,957 Ordinary shares in the Company (including 30,771 shares held under the Deferred Bonus Plan by the Employee Trustee Apex Fund Services and 2,000 shares held through a connected person).  This holding represents 444% of his 2020 salary based on the closing mid-market price on 27 May 2020.

Martin Green - Group Finance Director

Exercised an award made on 15 May 2017 under the Long Term Incentive Plan that vested on the basis that 72.06% of the performance conditions tied to the award had been achieved:

Number of Ordinary shares acquired for nil consideration (including associated dividend shares)	Number of Ordinary shares disposed principally to cover taxes	Price per Ordinary share at which shares sold (closing mid-market price on 27 May 2020)	Number of Ordinary shares retained
38,177	17,944	£6.84	20,233

Following the above dealings, Martin Green has increased his holding to 112,114 Ordinary shares in the Company (including 18,857 shares held under the DBP by the Employee Trustee Apex Fund Services). This holding represents 216% of his 2020 salary based on the closing mid-market price on 27 May 2020.

Both of the above awards vesting to Stephen Bird and Martin Green were satisfied from existing shares in the Company through the Employee Trustee Apex Fund Services.

Enquiries:

Jon Bolton

Group Company Secretary

Tel: [phone]

A snapshot of The Vitec Group plc

Vitec is a leading global provider of premium branded products and solutions to the fast changing and growing "image capture and content creation" market.

Vitec's customers include broadcasters, independent content creators, photographers and enterprises, and our activities comprise: design, manufacture and distribution of high performance products and solutions including camera supports and accessories, wired and wireless video transmission systems, robotic camera systems, prompters, LED lights, mobile power, monitors, bags, motion control, smartphone accessories, audio capture and noise reduction equipment.

We employ around 1,600 people across the world in 11 different countries and are organised in three Divisions: Imaging Solutions, Production Solutions and Creative Solutions.

The Vitec Group plc is listed on the London Stock Exchange with 2019 revenue of £376.1 million.

More information can be found at: www.vitecgroup.com

LEI number: 2138007H5DQ4X8YOCF14

 

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