Business
Director/PDMR Shareholding
Director/PDMR Shareholding.
About this update from Arecor Therapeutics Plc
[{"type":"text","content":"\n\nArecor Therapeutics plc\n(\"Arecor\", the \"Company\" or the \"Group\")\n \nGrant of Options and PDMR Dealing\n \nCambridge, UK, 24 May 2023: Arecor Therapeutics plc (AIM: AREC), the biopharmaceutical group advancing today's therapies to enable healthier lives, announces that on 23 May 2023, it granted a total of 190,000 options under the Company's Long Term Incentive Plan (\"LTIP Options\") and a further 86,250 options under the Company's All Employee Share Ownership Plan (\"AESOP Options\") over new ordinary shares of 1 pence each in the Company (\"Ordinary Shares\").\nThe LTIP Options have an exercise price of 1p and are granted to persons discharging managerial responsibilities (\"PDMRs\") of the Company. Performance conditions include commercial objectives and Total Shareholder Return during the three-year performance period. The LTIP Options are subject to continued service and the extent to which the performance conditions are satisfied. Vested LTIP Options will normally be exercisable until the tenth anniversary of the grant date, after which time they will lapse. They are subject to a condition that the LTIP Options or the Ordinary Shares acquired on exercise of the LTIP Options (other than those sold to cover tax and National Insurance) are held for a minimum one-year period from vesting.\nThe AESOP Options vest after 36 months and are exercisable at £2.55 per share, being the closing market price of an Ordinary Share on the day preceding the date of grant. The AESOP Options are subject to continuous employment and are exercisable until the tenth anniversary of the date of grant, after which date the option will lapse. The grant of options included 40,000 AESOP Options granted to a person discharging managerial responsibilities (\"PDMR\"), Manjit Rahelu, Chief Business Officer of the Company.\nThe notifications below, made in accordance with the requirements of the Market Abuse Regulation, provide further detail. \nFor further information, please contact:\n \n\n\n\nArecor Therapeutics plc\n \n\n\nwww.arecor.com\n\n\n\n\nDr Sarah Howell, Chief Executive Officer\n\n\nTel: +44 (0) 1223 426060\nEmail: [email protected]\n \n\n\n\n\n\n\n\n\n\n\n\n\nSusan Lowther, Chief Financial Officer\n\n\nTel: +44 (0) 1223 426060\nEmail: [email protected]\n \n\n\n\n\n \n\n\...