Long Term Incentive Plan Awards

RNS Number : 7856V

IG Design Group PLC

12 August 2022

 

12 August 2022

IG Design Group Plc
('Design Group' or the 'Company')

Long Term Incentive Plan Awards

The Company announces that on 11 August 2022, it awarded a total of 410,759 conditional awards and 480,536 nil cost options ("Options") over ordinary shares of 5 pence each in the capital of the Company ("Ordinary Shares") to Lance Burn, Interim COO, and Paul Bal, Chief Financial Officer, respectively, under the Company's 2022 Long Term Incentive Plan ("LTIP 2022 - 2025").

The awards are consistent with the terms summarised in the Directors' Remuneration Report on page 69 of the FY2022 Annual Report and Accounts and accordingly are subject to certain performance conditions set by the Company's Remuneration Committee being achieved during a three year period (two thirds based on relative TSR vs FTSE SmallCap (ex IT) constituents; one-third based on EPS growth). An 'underpin' condition also applies to the awards that allows the Remuneration Committee to reduce vesting levels if it determines that vesting outcomes reflect unwarranted 'windfall gains' from share price movements. In addition, Mr Burn and Mr Bal have committed to a two-year holding period.  Fuller details regarding these awards will be disclosed in the Company's Directors' Remuneration Report for FY2023. 

Details of the awards made to each Director and their resulting interests in the Company are detailed in the table below.

		Existing Option awards				New Option award
Director	Ordinary Shares	LTIP 2015-2018 (Vested)	LTIP 2016-2019 (Vested)	LTIP 2017-2020 (vested)	LTIP 2018-2021 (vested)	LTIP 2022 - 2025 (Not vested)
Lance Burn	25,679	-	-	48,025	55,915	410,759
Paul Bal	110,000	-	-	-	-	480,536

For further information, please contact:

IG Design Group Plc Stewart Gilliland, Interim Executive Chair Paul Bal, CFO	Tel: [phone]
Canaccord Genuity Limited (Nomad and Broker) Bobbie Hilliam Alex Aylen - Sales	Tel:  [phone]
Alma PR Susie Hudson Sam Modlin	Tel:  [phone] [e-mail]

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name:	Lance Burn
2	Reason for the notification
a)	Position/Status:	Interim COO
b)	Initial Notification/Amendment:	Initial Notification
3	Details of the issuer, emission allowance market participation, auction platform, auctioneer or auction monitor
a)	Name:	IG Design Group plc
b)	LEI:	213800J8I5XDZ3JU8496
4.	Details of 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: Identification code:	Options over Ordinary Shares of 5 pence each   ISIN: GB0004526900
b)	Nature of the transaction:	Award of conditional options, conditional on future performance
c)	Price(s) and volume(s):	Price(s)	Volume(s)
		nil	410,759
d)	Aggregated volume: Price:	N/A - Single transaction
e)	Date of the Transaction:	11 August 2022
f)	Place of the Transaction:	Outside trading venue

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name:	Paul Bal
2	Reason for the notification
a)	Position/Status:	Chief Financial Officer
b)	Initial Notification/Amendment:	Initial Notification
3	Details of the issuer, emission allowance market participation, auction platform, auctioneer or auction monitor
a)	Name:	IG Design Group plc
b)	LEI:	213800J8I5XDZ3JU8496
4.	Details of 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: Identification code:	Options over Ordinary Shares of 5 pence each   ISIN: GB0004526900
b)	Nature of the transaction:	Award of nil cost options, conditional on future performance
c)	Price(s) and volume(s):	Price(s)	Volume(s)
		nil	480,536
d)	Aggregated volume: Price:	N/A - Single transaction
e)	Date of the Transaction:	11 August 2022
f)	Place of the Transaction:	Outside trading venue

 

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