Wizz Air Omnibus Plan award grants

RNS Number : 5241J

Wizz Air Holdings PLC

13 December 2022

 

Wizz Air Holdings Plc

Wizz Air Omnibus Plan award grants

Geneva, 13 December 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"), including a Long-Term Incentive Plan ("LTIP") and a senior leadership growth plan (" SLGP"), to a person discharging management responsibilities ("PDMR") as set out below and based on the approval of the Remuneration Committee, as at 25 July 2022.

LTIP Awards of Performance Options:

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Ian Ogden Malin
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	20,360
e)	Aggregated information · Aggregated volume · Price	20,360 NIL
f)	Date of the transaction	14 November 2022
g)	Place of the transaction	Budapest, Hungary

For the LTIP 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.

SLGP Awards of Performance Options:

5.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Ian Ogden Malin
6.	Reason for the notification
a)	Position / status	Executive Vice President & Group Chief Financial Officer
b)	Initial notification / amendment	Initial notification
7.	Details of the issuer
a)	Name	Wizz Air Holdings Plc
b)	Legal entity identifier	213800COXGZCORLJZA85
8.	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	28,510
e)	Aggregated information · Aggregated volume · Price	28,510
f)	Date of the transaction	14 November 2022
g)	Place of the transaction	Budapest, Hungary

T he SLGP Awards, which are one-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.

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ABOUT WIZZ AIR

Wizz Air, the fastest growing European ultra-low-cost airline and one of the most sustainable, operates a fleet of 17 5  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 40.0 million passengers in the financial year F20 ending 31 March, 2020 and 27.1 million passengers in the financial year F22 ending 31 March 2022. 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. Wizz Air is a recipient of CAPA's prestigious Global Environmental Sustainability Airline Group of the year award, 2022 .

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

 

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