Business
Adoption of New LTIP and Grant of Options
Adoption of New LTIP and Grant of Options.
About this update from Gear4music (holdings) Plc
[{"type":"text","content":"\n\n4 July 2025\n \nGear4music (Holdings) plc\nAdoption of New LTIP and Grant of Options\n \nGear4music (Holdings) plc (\"Gear4music\", \"the Company\" or \"the Group\"), the largest UK based online retailer of musical instruments and music equipment, announces that on 3 July 2025 it adopted a new long term incentive plan (\"LTIP\") with share awards to be made to the three executive directors of the Company, being key members of Gear4Music's management team and persons discharging managerial responsibilities (\"PDMRs\").\nThe Group's Remuneration Committee has made these awards so that the key people to lead the business into the future are appropriately incentivised in a manner that aligns with the interests of the Group's shareholders.\nUnder the new LTIP, Gear4music Limited, (\"G4M Ltd\"), a wholly owned subsidiary of the Company, will issue 200,000 'F' ordinary shares of one pence each (\"F Shares\"), which are non-voting, non-dividend, restricted shares to the relevant individuals. The initial subscription cost is paid by way of a cash bonus.\nThese F Shares will vest subject to achieving a £5 share price target in July 2028, at which point the F Shares can be exchanged on a one-for-one basis for new ordinary shares in the Company (\"Ordinary Shares\"). The vesting period of the new LTIP is over three years from the date of grant.\nFurther details of the new LTIP are as follows:\n\n\n\n\nFinancial year ending 31 March\n\n\nVesting date\n\n\nShare price target\n\n\nNo. F Shares vesting\n\n\n\n\n2028\n\n\n24 July 2028\n\n\n£5\n\n\n200,000\n\n\n\n\n \nThe Group's executive directors (each of whom is also a PDMR) are participating in the new LTIP with details below:\n \n\n\n\n\nIndividual\n\n\nTitle / role\n\n\nNo. E Shares awarded\n\n\n\n\nGareth Bevan\n\n\nChief Executive Officer\n\n\n100,000\n\n\n\n\nAndrew Wass\n\n\nExecutive Chair\n\n\n50,000\n\n\n\n\nChris Scott\n\n\nChief Financial Officer\n\n\n50,000\n\n\n\n\nThe share awards made under the new LTIP would represent a maximum dilution of 1.0% of the Group's existing issued share capital, taking total dilution under existing schemes to 5.6% of the Group's fully diluted issued share capital.\n \nENDS\nEnquiries:\n\n\n\n\nGear4music\nAndrew Wass, Executive Chair\nGareth Bevan, Chief Executive Officer\nChris Scott, Chief Financial Officer\n\n\n+44 (...