Business
Long Term Incentive Plan Awards
Long Term Incentive Plan Awards.
About this update from Ig Design Group Plc
[{"type":"text","content":"\n\n15 August 2024\nIG Design Group Plc\n('Design Group' or the 'Company')\n\nLong Term Incentive Plan Awards\nThe Company announces that on 14 August 2024, it awarded a total of 296,145 and 233,135 nil cost options (\"Options\") over ordinary shares of 5 pence each in the capital of the Company (\"Ordinary Shares\") to Paul Bal, Chief Executive Officer, and Rohan Cummings, Chief Financial Officer, respectively, under the Company's 2022 Long Term Incentive Plan (\"LTIP 2024 - 2027\").\n\nThe awards are consistent with the terms summarised in the Directors' Remuneration Report on page 92 of the FY2024 Annual Report and Accounts and accordingly are subject to certain performance conditions set by the Company's Remuneration Committee being achieved during a three year period (two thirds based on relative TSR vs FTSE SmallCap (ex IT) constituents; one-third based on EPS growth). An 'underpin' condition also applies to the awards that allows the Remuneration Committee to reduce vesting levels if it determines that vesting outcomes reflect unwarranted 'windfall gains' from share price movements. In addition, Mr Bal and Mr Cummings have committed to a two-year holding period. \nDetails of the awards made to each Director and their resulting interests in the Company are detailed in the table below.\n \n\n\n\n\n \n\n\n \n\n\nExisting Option awards\n\n\nExisting Option awards\n\n\nNew Option award\n\n\n\n\n Director\n\n\nOrdinary Shares\n\n\nLTIP 2022-2025 (Not Vested)\n\n\nLTIP 2023-2026 (Not Vested)\n\n\nLTIP 2024-2027(Not Vested)\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nPaul Bal\n\n\n110,000\n\n\n480,536\n\n\n443,342\n\n\n296,145\n\n\n\n\nRohan Cummings\n\n\n43,261\n\n\n-\n\n\n260,330\n\n\n233,135\n\n\n\n\n \nFor further information, please contact:\n \n\n\n\n\nIG Design Group plc\n\n\nTel: +44 (0)1525 887310\n\n\n\n\nPaul Bal, Chief Executive Officer\n\n\n\n\n\n\n\nRohan Cummings, Chief Financial Officer\n \n\n\n\n\n\n\n\n \n\n\n \n\n\n\n\n \n\n\n\n\n\n\n\nCanaccord Genuity Limited\n(Nomad and Broker)\n\n\nTel: +44 (0)20 7523 8000\n\n\n\n\nBobbie Hilliam\nAlex Orr\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n \n\n\n \n\n\n\n\n \n\n\n\n\n\n\n\nAlma Strategic Communications\n\n\nTel: +44 (0)20 3405 0209\n\n\n\n\nRebecca Sanders-Hewett\n\n\ndesigngro...