Business
LTIP and Deferred Bonus Awards
LTIP and Deferred Bonus Awards.
About this update from Aston Martin Lagonda Global Holdings Plc
[{"type":"text","content":"\n\n26 May 2023\nAston Martin Lagonda Global Holdings plc\nNotification of transactions by Directors, Persons Discharging Managerial Responsibilities (\"PDMRs\") and persons closely associated with them\nAston Martin Lagonda Global Holdings plc (the \"Company\") announces the following changes in the interests of Directors in the Ordinary Shares in the Company (\"Shares\"), which took place on 24 May 2023.\nLong-term Incentive Plan awards\nIn accordance with the rules of the Aston Martin Lagonda Long-Term Incentive Plan 2018 (\"LTIP\"), the Director named below was granted nil-cost options over Shares as follows:\n· Doug Lafferty (CFO) - 352,852 shares (200% of salary)\nThe LTIP award is the 2023 grant and is subject to the performance conditions, performance periods, vesting periods and malus and clawback provisions set out below, in-line with the Remuneration Policy approved in 2022, and as disclosed in the 2022 Directors' Remuneration Report.\n2023 LTIP performance measures and targets\n\n\n\n\n\n\n \n\n\n2023 LTIP targets\n\n\nVesting* (as a % of maximum)\n\n\n\n\n\n\n\n \n\n\n\n\nAdjusted EBITDA (£m in FY25)\n(80% of award)\n\n\nThreshold\n\n\n400\n\n\n20%\n\n\n\n\nStretch\n\n\n475\n\n\n80%\n\n\n\n\nMaximum\n\n\n550\n\n\n100%\n\n\n\n\nRelative TSR**\n(vs. luxury peers)\n(20% of award)\n\n\nThreshold\n\n\nRank 6th (median)\n\n\n20%\n\n\n\n\nMaximum\n\n\nRank 3rd or above\n(80th percentile)\n\n\n100%\n\n\n\n* Vesting will be on a straight-line basis between each of threshold and stretch, and stretch and maximum for the EBITDA\n element and threshold and maximum for the TSR element.\n**TSR performance will be measured on a ranked basis against the following luxury companies: Burberry, Capri Holdings, Compagnie Financiere Richemont, Ferrari, Hermes International, Kering, LVMH, Moncler, Prada and Ralph Lauren.\n· The Remuneration Committee retains discretion to adjust the vesting levels to ensure they reflect underlying business performance and any other relevant factors to ensure that the value at vesting is fully reflective of the performance delivered and executives do not receive unjustified windfall gains.\nPerformance period\nPerformance for both measures will be measured over three financial years to 31 December 2025. Subject to performance,...