2014 LTIP award - vesting outcome

Released : 20.03.2017

RNS Number : 9936Z
The Vitec Group PLC
20 March 2017
 

 

20 March 2017

 

 

THE VITEC GROUP PLC

 

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

 

Long Term Incentive Plan (LTIP) - Lapse of 2014 Awards

 

The Company confirms that neither of the performance conditions associated with awards made under the LTIP on 2 April 2014 reached threshold performance conditions for vesting and hence all awards under the 2014 LTIP will lapse on their third anniversary on 2 April 2017. The performance conditions were based 50% on earnings per share growth and 50% on Total Shareholder Return performance compared to a comparator group.

 

Details of the number of awards that have lapsed along with each Executive Director and PDMR's current holdings in the Company's shares following this lapse are set out below.

 

Name

Position

Number of 2014 LTIP awards lapsed

Current shareholding as at date of announcement*

Stephen Bird

Group Chief Executive

65,958

275,551 (42,269)

Paul Hayes

Group Finance Director

45,343

82,706 (29,920)

Martin Green

Group Business Development Director

33,037

34,821 (12,851)

Marco Pezzana

PDMR

38,013

33,545 (10,378)

Jon Bolton

PDMR

25,487

28,181 (5,066)

Halid Hatic

PDMR

10,000

Nil (Nil)

 

* The number in brackets refers to the number of ordinary shares purchased in the market with funds provided by the Executive Director or PDMR and which are held by Capita Trustees Limited, the Trustee used to hold shares in respect of awards made under The Vitec Group 2005 Deferred Bonus Plan and 2014 Deferred Bonus Plan. Stephen Bird's holding includes 2,000 shares held by a connected person.

 

 

Enquiries:

Jon Bolton

Group Company Secretary

 

020 8332 4600

 

 

A Snapshot of The Vitec Group

 

Vitec is a leading global provider of premium branded products and services to the fast changing and growing "image capture and sharing" 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 software including camera supports, wireless systems, robotic camera systems, prompters, LED lights, mobile power, monitors and bags; and premium services including technical solutions, systems integration and equipment rental for TV production teams, film crews and enterprises.

 

We employ around 1,700 people across the world in ten different countries and are organised in two Divisions: Broadcast and Photographic.

 

The Vitec Group plc is listed on the London Stock Exchange with 2016 revenue of £376.2 million.

 

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

 

LEI number: 2138007H5DQ4X8YOCF14


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