Business
Grant of LTIP Awards and Directors' Dealings
Grant of LTIP Awards and Directors' Dealings.
About this update from Helios Underwriting Plc
[{"type":"text","content":"\n \n \n \n 19 December 2022\n \n \n \n \n \n \n \n \n Helios Underwriting plc\n \n \n (\"Helios\", the \"Company\" or the \"Group\")\n \n \n \n \n \n \n Grant of LTIP Awards\n \n \n \n \n and\n \n \n \n \n Directors' Dealings\n \n \n \n \n \n \n \n \n Helios, the unique investment vehicle which acquires and consolidates underwriting capacity at Lloyd's, announces that on 16 December 2022 the following awards over ordinary shares of 10 pence each in the Company were granted under the Helios Underwriting plc Long Term Incentive Plan to the following person(s) discharging managerial responsibilities:\n \n \n \n \n \n \n \n \n \n \n Participant\n \n \n \n \n \n \n Position\n \n \n \n \n \n \n No. of Shares under Award\n \n \n \n \n \n \n \n Nigel Hanbury\n \n \n \n \n Chief Executive\n \n \n \n \n 304,761\n \n \n \n \n \n \n Arthur Manners\n \n \n \n \n Finance Director\n \n \n \n \n 266,666\n \n \n \n \n \n \n \n \n \n The awards were granted as nil cost options and will ordinarily vest on the third anniversary of their grant, subject to the grantee's continued service and the extent to which the award's performance conditions are satisfied.\n \n \n \n \n \n \n \n \n \n \n The Company's TSR over the 3 year performance period\n \n \n \n \n \n \n % of award that vests\n \n \n \n \n \n \n \n Less than 30%\n \n \n \n \n 0%\n \n \n \n \n \n \n 30%\n \n \n \n \n 25%\n \n \n \n \n \n \n 60%\n \n \n \n \n 100%\n \n \n \n \n \n \n Between 30% and 60%\n \n \n \n \n Between 25% and 100% on a straight-line basis\n \n \n \n \n \n \n \n \n \n The awards' performance conditions set threshold (30%) to stretch (60%) targets in respect of the Company's total shareholder return (\"TSR\") over the three year period following the grant of the awards. No portion of the awards shall vest unless the Company's TSR at the end of the performance period reaches the threshold target, for which one quarter of the awards would vest, rising on a straight line basis to full vesting of the awards for the Company's TSR over the performance period being equal to the stretch target or better.\n \n \n \n \n \n The information set out below is provided in accordance with the requirements of Article 19(3) of the Market Abuse Regulation (EU) No 596/2014.\n \n \n \n \n \n \n \n \n \n...