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: 0141 300 3074

 


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