Business
Grant of Awards under Performance Share Plan
Grant of Awards under Performance Share Plan.
About this update from Aptitude Software Group Plc
[{"type":"text","content":"\n\nAptitude Software Group plc (the \"Company\")\nGrant of awards under the Company's Performance Share Plan 2016 (\"PSP\")\nOn 6 September 2023 Aptitude Software Group plc granted awards in the form of options over ordinary shares in the Company (\"Ordinary Shares\") under the PSP to the following Directors and PDMRs. Each option has an exercise price per Ordinary Share equal to the nominal value of an Ordinary Share.\n\n\n\n\nDirector/ PDMR\n\n\nRole\n\n\nNumber of Ordinary Shares over which award granted\n\n\n\n\nAlex Curran\n\n\nExecutive Director/PDMR (Acting Chief Executive Officer)\n\n\n121,215\n\n\n\n\nMike Johns\n\n\nExecutive Director/PDMR (Chief Financial Officer)\n\n\n74,659\n\n\n\n\nJennifer Mead\n\n\nPDMR (Chief People Officer)\n\n\n50,683\n\n\n\n\nEach award has been granted subject to a performance condition based on the Company's Total Shareholder Return (\"TSR\") over the three year performance period starting on the date of grant relative to the TSRs of the constituents of the FTSE SmallCap Index (excluding investment trusts) and the Company's diluted earnings per share (\"EPS\") at the end of a three year performance period ending with 2025. The TSR performance condition accounts for 75% of each award and the EPS performance condition for 25% of each award. Details of the performance conditions are set out below. \n\n\n\n\nVesting\n\n\nTSR Performance Condition (Rank of the Company's TSR against the Comparator Group)\n\n\nEPS Performance Condition (diluted EPS for the final year of the performance period)\n\n\n\n\n25%\n\n\nMedian\n\n\n15.7 pence\n\n\n\n\nBetween 25% and 100%\n\n\nBetween median and upper quartile\n\n\nBetween 15.7 pence and 18.1 pence\n\n\n\n\n100%\n\n\nUpper quartile or above\n\n\n18.1 pence or more\n\n\n\n\nEach award is subject to a further performance condition that the extent of vesting reflects the overall financial performance of the Company over the performance period.\nThe extent to which the Awards vest will be determined following the end of the TSR performance period. The awards granted to Alex Curran and Mike Johns will be subject to a two year holding period following assessment of performance. No other awards will be subject to a holding period.\nThe 2023 awards to Alex Curran and Mike Johns have been made at 125% of salary, in line with the Remuneration Policy ...