Business
Grant and Vesting of Awards
Grant and Vesting of Awards.
About this update from Allergy Therapeutics Plc
[{"type":"text","content":"\n \n \n RNS Number : 4370I\n Allergy Therapeutics PLC\n 01 April 2020\n \n \n \n \n \n \n \n \n \n \n Allergy Therapeutics plc\n \n \n (\"Allergy Therapeutics\" or the \"Group\")\n \n \n \n \n \n Grant and Vesting of Awards under Long Term Incentive Plan \n \n \n \n \n \n Allergy Therapeutics (AIM:AGY), the fully integrated pharmaceutical company specialising in allergy vaccines, announces that, \n \n \n \n \n \n 1. Grant of Award\n \n \n \n \n \n Pursuant to the Company's Long Term Incentive Plan (\"LTIP\") t\n he following conditional awards of shares of 0.1 pence each were made to Executive Directors at a nominal cost of 0.1 pence each on 27 March 2020 (the \"Awards\").\n \n \n \n \n \n \n \n \n Executive Director\n \n \n \n \n Number of Conditional shares awarded\n \n \n \n \n \n \n Manuel Llobet\n \n \n \n \n 900,000\n \n \n \n \n \n \n Nick Wykeman\n \n \n \n \n 450,000\n \n \n \n \n \n \n \n \n \n \n \n The Awards have been granted in accordance with the LTIP rules and vesting is conditional on the satisfaction of performance conditions in respect of earnings growth and share price growth over three years. \n \n \n \n \n \n 2. Vesting of Award\n \n \n \n \n \n Performance conditions attaching to provisional awards (\"Awards\") made pursuant to the Company's Long Term Incentive Plan (\"LTIP\") for the three years ended 30 June 2019, details of which were announced on 30 December 2016, have been met in part. \n \n \n Consequently, on 27 March 2020, Allergy Therapeutics granted certain of its directors low cost options (\"Options\") over the Company's ordinary shares of 0.1 pence each (\"Ordinary Shares\") in replacement for the Awards made under the LTIP as follows:\n \n \n \n \n \n Director\n \n \n \n \n Percentage of Award Vested \n \n \n \n \n Total number of Ordinary Shares over which Options granted\n \n \n \n \n Exercise Price \n \n \n \n \n \n \n M\n anuel Llobet,\n \n \n \n \n 50%\n \n \n \n \n 845,000\n \n \n \n \n 0.1 pence\n \n \n \n \n \n \n Nicolas Wykeman\n \n \n \n \n 50%\n \n \n \n \n 211,250\n \n \n \n \n 0.1 pence \n \n \n \n \n \n \n \n \n In accordance with the rules of the LTIP, 50% of these Options are exercisable immediately and the remaining 50% are subject to a holding period of three years. The ex...