Business
Grants under Deferred Annual Bonus Plan
Grants under Deferred Annual Bonus Plan.
About this update from Itm Power Plc
[{"type":"text","content":"\n\n28 August 2024\n \nITM Power PLC\n \nGrants under Deferred Annual Bonus Plan\n \nITM Power PLC (the \"Company\") announces that on 27 August 2024 awards over ordinary shares of £0.05 each in the capital of the Company were granted to certain employees under the ITM Power PLC Deferred Annual Bonus Plan (\"DBP\").\nNo consideration is payable for the grant of the awards which are structured as nominal cost options at an option exercise price of £0.05 per ordinary share. The number of ordinary shares granted under the award has been calculated using a share price of 50.55 pence, being the closing middle market quotation as derived from the daily official list on 27 August 2024. \n \nThe awards are subject to a two-year vesting period. As this award was derived from a portion of the participants' 2024 annual bonus entitlement, which was subject to the achievement of certain performance conditions, these awards are not conditional on the achievement of further performance conditions, other than the participant being a director or employee within the Company's group at the time of vesting.\n \nThe DBP awards granted to Executive Directors (who are Persons Discharging Managerial Responsibilities) are as follows:\n \n\n\n\n\nName of Director/PDMR\n\n\nNumber of Shares over which the DBP Award is granted\n\n\n \n\n\n\n\nDennis Schulz, CEO\n\n\n 239,183\n\n\n\n\n\n\n\n\n\n\nAndrew Allen, CFO\n\n\n100,360\n\n\n\n\n\n\n\n\n\n\nSimon Bourne, CTO\n\n\n151,013\n\n\n\n\n\n\n\n\n\n\n \n \nThe notification is intended to satisfy the Company's obligations under Article 19 of the Market Abuse Regulations.\n \nEnquiries:\n\n\n\n\nITM Power PLC\n\n\n+44 (0)114 263 7646\n\n\n \n\n\n\n\nHuan Quayle (Company Secretary)\nJustin Scarborough (Investor Relations)\n\n\n \n\n\n \n\n\n\n\n\n\n\n\n\n\n \n\n\n\n\nInvestec Bank plc (Nominated Adviser and Broker)\n\n\n+44 (0)20 7597 5970\n\n\n\n\nJames Rudd / Ben Griffiths\n\n\n\n\n\n \n\n\n\n\n\n\n\n\n\n\n \n\n\n\n\n1\n \n\n\nDetails of the person discharging managerial responsibilities / person closely associated\n\n\n \n\n\n\n\na)\n\n\nName\n\n\nDennis Schulz\n\n\n \n\n\n\n\n2\n\n\nReason for the notification\n\n\n \n\n\n\n\na)\n\n\nPosition/status\n\n\nChief Executive Officer\n\n\n \n\n\n\n\n...