Business
Exercise of Nil Cost Options
Exercise of Nil Cost Options.
About this update from Costain Group Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 7354U\n Costain Group PLC\n 08 April 2021\n \n \n \n \n \n \n \n Costain Group PLC\n \n \n (the \"Company\")\n \n \n \n \n \n EXERCISE OF NIL COST OPTIONS \n \n \n \n \n \n (a) Total Beneficial Holding of Shares\n \n \n \n \n \n Costain announces that, following the exercise of share awards granted under the Company's 2014 Share Deferral Plan (SDP) as detailed in section (b) below, Alex Vaughan, Chief Executive Officer, held the number of ordinary shares of 50 pence each in the share capital of the Company (the \"Shares\") as set out in the table below: \n \n \n \n \n \n \n \n Name of Director\n \n \n \n \n Total beneficial holding of Shares held prior to the transactions detailed in section (b) below\n \n \n \n \n Total beneficial holding of Shares held following the transactions detailed in section (b) below\n \n \n \n \n \n \n \n \n \n Alex Vaughan\n \n \n \n \n \n \n \n \n \n \n 228,461\n \n \n \n \n \n \n \n 239,612\n \n \n \n \n \n \n \n \n \n (b) Vesting of Share Deferral Plan (SDP)\n \n \n \n \n \n On 3 April 2019, awards were granted under the Costain Group PLC 2014 Share Deferral Plan to certain Directors and employees of the Company. The awards were granted in the form of options with a nil exercise price over a fixed number of Shares (the \"Awards\"). No consideration was paid for the grant of the Awards. The Awards vested on 3 April 2021 and became exercisable for a period of ten years from the date of grant. \n \n \n \n \n \n On 7 April 2021, the Company was advised that Buck Trustees (Guernsey) Limited, as Trustee of the Costain Group Employee Trust, had undertaken the following transaction:\n \n \n \n \n \n On 6 April 2021, Alex Vaughan exercised his Award to acquire the number of Shares as set out in the table below. Also as detailed below, the Director sold a number of Shares sufficient to satisfy his income tax and national insurance liability arising on exercise and retained the remaining Shares.\n \n \n \n \n \n \n \n \n \n \n \n \n Name of\n \n \n Director\n \n \n \n \n \n \n \n Total number of Shares acquired on exercise of Awards (including Dividend Shares accrued at vesting)\n \n \n \n \n \n \n \n Exercise Price\n \n \n \n \n Number of Shares sold to satisf...