Wizz Air Omnibus Plan award grants

RNS Number : 1516S

Wizz Air Holdings PLC

12 July 2022

 

Wizz Air Holdings Plc

Wizz Air Omnibus Plan award grants

Geneva, 12 July 2022 - Wizz Air Holdings Plc ("Wizz Air" or the "Company"), the fastest-growing European airline, announces the granting of awards under omnibus share plan ("Omnibus Plan"), to a number of persons discharging management responsibilities ("PDMRs").

On 8 July 2022, following approval by the Company's Remuneration Committee, Wizz Air made a grant of options under the Omnibus Plan, in relation to senior leadership growth plan ("SLGP"), over 65,052 ordinary shares in the capital of Wizz Air of £0.0001 par value (identification code JE00BN574F90) ("SLGP Awards") to PDMRs as set out below.

The following PDMRs were granted SLGP Awards of Performance Options

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Roland Tischner
2.	Reason for the notification
a)	Position / status	Officer Wizz Air Hungary Operations
b)	Initial notification / amendment	Initial notification
3.	Details of the issuer
a)	Name	Wizz Air Holdings Plc
b)	Legal entity identifier	213800COXGZCORLJZA85
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 £0.0001 each
	Identification code	JE00BN574F90
b)	Nature of the transaction	Grant of Performance Options
c)	Currency	British Pounds
d)	Price(s) and volume(s)		Price(s)	Volume(s)
			NIL	21,684
e)	Aggregated information · Aggregated volume · Price	21,684 NIL
f)	Date of the transaction	8 July 2022
g)	Place of the transaction	N/A

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Yvonne Moynihan
2.	Reason for the notification
a)	Position / status	Corporate Officer
b)	Initial notification / amendment	Initial notification
3.	Details of the issuer
a)	Name	Wizz Air Holdings Plc
b)	Legal entity identifier	213800COXGZCORLJZA85
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 £0.0001 each
	Identification code	JE00BN574F90
b)	Nature of the transaction	Grant of Performance Options
c)	Currency	British Pounds
d)	Price(s) and volume(s)		Price(s)	Volume(s)
			NIL	21,684
e)	Aggregated information · Aggregated volume · Price	21,684 NIL
f)	Date of the transaction	8 July 2022
g)	Place of the transaction	N/A

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Alexandra Avadanei
2.	Reason for the notification
a)	Position / status	Revenue Officer
b)	Initial notification / amendment	Initial notification
3.	Details of the issuer
a)	Name	Wizz Air Holdings Plc
b)	Legal entity identifier	213800COXGZCORLJZA85
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 £0.0001 each
	Identification code	JE00BN574F90
b)	Nature of the transaction	Grant of Performance Options
c)	Currency	British Pounds
d)	Price(s) and volume(s)		Price(s)	Volume(s)
			NIL	21,684
e)	Aggregated information · Aggregated volume · Price	21,684 NIL
f)	Date of the transaction	8 July 2022
g)	Place of the transaction	N/A

T he SLGP Awards, which are on-off awards, will be subject to the following performance conditions:

(a)  100% of an award will vest subject to 20% CAGR in the Company's share price over a five-year period. The threshold growth level is 15% CAGR for which 0% of the award vests with straight line vesting in between these two points. Base period for calculation is VWAP over 1H CY 2021 - tested against share price at end of period VWAP 1H CY 2026; and

All vested options must be exercised within ten years of the date of grant. If exercised, then the underlying shares of the vested options will be issued at nil cost to the option holders. No amounts have been paid by the relevant PDMRs for the grant of these options.

On 8 July 2022, following approval by the Company's Remuneration Committee, Wizz Air made a grant of options under the Omnibus Plan, in relation to long-term incentive plan ("LTIP"), over 231,558 ordinary shares in the capital of Wizz Air of £0.0001 par value (identification code JE00BN574F90) ("LTIP Awards") to PDMRs as set out below.

The following PDMRs were granted LTIP Awards of Performance Options:

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Robert Carey
2.	Reason for the notification
a)	Position / status	President
b)	Initial notification / amendment	Initial notification
3.	Details of the issuer
a)	Name	Wizz Air Holdings Plc
b)	Legal entity identifier	213800COXGZCORLJZA85
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 £0.0001 each
	Identification code	JE00BN574F90
b)	Nature of the transaction	Grant of Performance Options
c)	Currency	British Pounds
d)	Price(s) and volume(s)		Price(s)	Volume(s)
			NIL	26, 165
e)	Aggregated information · Aggregated volume · Price	26, 165 NIL
f)	Date of the transaction	8 July 2022
g)	Place of the transaction	N/A

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Jourik Hooghe
2.	Reason for the notification
a)	Position / status	Executive Vice President & Group Chief Financial Officer
b)	Initial notification / amendment	Initial notification
3.	Details of the issuer
a)	Name	Wizz Air Holdings Plc
b)	Legal entity identifier	213800COXGZCORLJZA85
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 £0.0001 each
	Identification code	JE00BN574F90
b)	Nature of the transaction	Grant of Performance Options
c)	Currency	British Pounds
d)	Price(s) and volume(s)		Price(s)	Volume(s)
			NIL	26,165
e)	Aggregated information · Aggregated volume · Price	26,165 NIL
f)	Date of the transaction	8 July 2022
g)	Place of the transaction	N/A

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Michael Delehant
2.	Reason for the notification
a)	Position / status	Executive Vice President & Group Chief Operations Officer
b)	Initial notification / amendment	Initial notification
3.	Details of the issuer
a)	Name	Wizz Air Holdings Plc
b)	Legal entity identifier	213800COXGZCORLJZA85
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 £0.0001 each
	Identification code	JE00BN574F90
b)	Nature of the transaction	Grant of Performance Options
c)	Currency	British Pounds
d)	Price(s) and volume(s)		Price(s)	Volume(s)
			NIL	26, 165
e)	Aggregated information · Aggregated volume · Price	26, 165 NIL
f)	Date of the transaction	8 July 2022
g)	Place of the transaction	N/A

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Roland Tibor Tischner
2.	Reason for the notification
a)	Position / status	Officer Wizz Air Hungary Operations
b)	Initial notification / amendment	Initial notification
3.	Details of the issuer
a)	Name	Wizz Air Holdings Plc
b)	Legal entity identifier	213800COXGZCORLJZA85
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 £0.0001 each
	Identification code	JE00BN574F90
b)	Nature of the transaction	Grant of Performance Options
c)	Currency	British Pounds
d)	Price(s) and volume(s)		Price(s)	Volume(s)
			NIL	17,007
e)	Aggregated information · Aggregated volume · Price	17,007 NIL
f)	Date of the transaction	8 July 2022
g)	Place of the transaction	N/A

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Marion Geoffroy
2.	Reason for the notification
a)	Position / status	Managing Director Wizz Air UK
b)	Initial notification / amendment	Initial notification
3.	Details of the issuer
a)	Name	Wizz Air Holdings Plc
b)	Legal entity identifier	213800COXGZCORLJZA85
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 £0.0001 each
	Identification code	JE00BN574F90
b)	Nature of the transaction	Grant of Performance Options
c)	Currency	British Pounds
d)	Price(s) and volume(s)		Price(s)	Volume(s)
			NIL	17, 007
e)	Aggregated information · Aggregated volume · Price	17, 007 NIL
f)	Date of the transaction	8 July 2022
g)	Place of the transaction	N/A

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Heiko Holm
2.	Reason for the notification
a)	Position / status	Officer Wizz Air Central Operations
b)	Initial notification / amendment	Initial notification
3.	Details of the issuer
a)	Name	Wizz Air Holdings Plc
b)	Legal entity identifier	213800COXGZCORLJZA85
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 £0.0001 each
	Identification code	JE00BN574F90
b)	Nature of the transaction	Grant of Performance Options
c)	Currency	British Pounds
d)	Price(s) and volume(s)		Price(s)	Volume(s)
			NIL	17,007
e)	Aggregated information · Aggregated volume · Price	17,007 NIL
f)	Date of the transaction	8 July 2022
g)	Place of the transaction	N/A

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Johan Eidhagen
2.	Reason for the notification
a)	Position / status	People and ESG Officer
b)	Initial notification / amendment	Initial notification
3.	Details of the issuer
a)	Name	Wizz Air Holdings Plc
b)	Legal entity identifier	213800COXGZCORLJZA85
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 £0.0001 each
	Identification code	JE00BN574F90
b)	Nature of the transaction	Grant of Performance Options
c)	Currency	British Pounds
d)	Price(s) and volume(s)		Price(s)	Volume(s)
			NIL	17,007
e)	Aggregated information · Aggregated volume · Price	17,007 NIL
f)	Date of the transaction	8 July 2022
g)	Place of the transaction	N/A

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Joel Goldberg
2.	Reason for the notification
a)	Position / status	Digital Officer
b)	Initial notification / amendment	Initial notification
3/	Details of the issuer
a)	Name	Wizz Air Holdings Plc
b)	Legal entity identifier	213800COXGZCORLJZA85
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 £0.0001 each
	Identification code	JE00BN574F90
b)	Nature of the transaction	Grant of Performance Options
c)	Currency	British Pounds
d)	Price(s) and volume(s)		Price(s)	Volume(s)
			NIL	17,007
e)	Aggregated information · Aggregated volume · Price	17,007 NIL
f)	Date of the transaction	8 July 2022
g)	Place of the transaction	N/A

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Yvonne Moynihan
2.	Reason for the notification
a)	Position / status	Corporate Officer
b)	Initial notification / amendment	Initial notification
3.	Details of the issuer
a)	Name	Wizz Air Holdings Plc
b)	Legal entity identifier	213800COXGZCORLJZA85
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 £0.0001 each
	Identification code	JE00BN574F90
b)	Nature of the transaction	Grant of Performance Options
c)	Currency	British Pounds
d)	Price(s) and volume(s)		Price(s)	Volume(s)
			NIL	17,007
e)	Aggregated information · Aggregated volume · Price	17,007 NIL
f)	Date of the transaction	8 July 2022
g)	Place of the transaction	N/A

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Owain Jones
2.	Reason for the notification
a)	Position / status	Development Officer
b)	Initial notification / amendment	Initial notification
3.	Details of the issuer
a)	Name	Wizz Air Holdings Plc
b)	Legal entity identifier	213800COXGZCORLJZA85
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 £0.0001 each
	Identification code	JE00BN574F90
b)	Nature of the transaction	Grant of Performance Options
c)	Currency	British Pounds
d)	Price(s) and volume(s)		Price(s)	Volume(s)
			NIL	17,007
e)	Aggregated information · Aggregated volume · Price	17,007 NIL
f)	Date of the transaction	8 July 2022
g)	Place of the transaction	N/A

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Zsuzsa Poós
2.	Reason for the notification
a)	Position / status	Customer and Marketing Officer
b)	Initial notification / amendment	Initial notification
3.	Details of the issuer
a)	Name	Wizz Air Holdings Plc
b)	Legal entity identifier	213800COXGZCORLJZA85
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 £0.0001 each
	Identification code	JE00BN574F90
b)	Nature of the transaction	Grant of Performance Options
c)	Currency	British Pounds
d)	Price(s) and volume(s)		Price(s)	Volume(s)
			NIL	17,007
e)	Aggregated information · Aggregated volume · Price	17,007 NIL
f)	Date of the transaction	8 July 2022
g)	Place of the transaction	N/A

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Alexandra Avadanei
2.	Reason for the notification
a)	Position / status	Revenue Officer
b)	Initial notification / amendment	Initial notification
3.	Details of the issuer
a)	Name	Wizz Air Holdings Plc
b)	Legal entity identifier	213800COXGZCORLJZA85
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 £0.0001 each
	Identification code	JE00BN574F90
b)	Nature of the transaction	Grant of Performance Options
c)	Currency	British Pounds
d)	Price(s) and volume(s)		Price(s)	Volume(s)
			NIL	17,007
e)	Aggregated information · Aggregated volume · Price	17,007 NIL
f)	Date of the transaction	8 July 2022
g)	Place of the transaction	N/A

For the LTIP Awards, other than SLGP Awards, the performance share awards will be subject to conditions set out below:

(i)  90% of an award will vest subject to 15% CAGR in the Company's share price over the next three-year period. The threshold growth level is 7.5% CAGR for which 25% of the award vests with straight line vesting in between these two points. Base period for calculation is VWAP over 1H CY 2022 - tested against share price at end of period VWAP 1H CY 2025; and

(ii)  10% of an award will vest based on the achievement of ESG targets, the criteria for which will be people and environment both weighted at 5%. If the minimum threshold CAGR of 7.5% is not achieved no ESG portion will vest.

All vested options must be exercised within ten years of the date of grant. If exercised, then the underlying shares of the vested options will be issued at nil cost to the option holders. No amounts have been paid by the relevant PDMRs for the grant of these options.

-End-

ABOUT WIZZ AIR

Wizz Air, the fastest growing European low-cost airline, operates a fleet of 142 Airbus A320 and A321 aircraft. A team of dedicated aviation professionals delivers superior service and very low fares, making Wizz Air the preferred choice of 10.2 million passengers in the financial year F21 ending 31 March 2021. Wizz Air is listed on the London Stock Exchange under the ticker WIZZ. The company was recently named one of the world's top ten safest airlines by  airlineratings.com , the world's only safety and product rating agency, and 2020 Airline of the Year by ATW, the most coveted honour an airline or individual can receive, recognizing individuals and organizations that have distinguished themselves through outstanding performance, innovation, and superior service.

For more information:
Investors:	Zlatko Custovic, Wizz Air	[phone]
Media:	Natasha Seager Smith, Wizz Air:	[phone]
	Edward Bridges / Jonathan Neilan, FTI Consulting LLP:	[phone]

 

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