Business
Grant of Options and Vesting of Deferred Awards
Grant of Options and Vesting of Deferred Awards.
About this update from Jet2 Plc
[{"type":"text","content":"\n \n \n 20 July 2022\n \n \n Jet2 plc\n \n (\"Jet2\", the \"Group\" or the \"Company\")\n \n \n \n \n Grant of Options under Share Reward Plan\n \n \n and Vesting of Deferred Awards under Senior Executive Incentive Plan\n \n \n \n \n \n \n Jet2 plc\n \n , the Leisure Travel group, announces that 2,114,466 options have today been granted under the Jet2 plc Share Reward Plan (the \"Plan\").\n \n \n As previously announced, awards under the Plan take the form of options to acquire the Company's ordinary shares of 1.25p each (\"Ordinary Shares\") at the shares' nominal value and which will vest three years following the date of grant and will lapse ten years from the anniversary of the date of grant. R\n ecipients must be employed and not be under notice given or received at vesting and must have worked and contributed throughout the vesting period. \n \n \n The total number of shares awarded under the Plan in 2022 represents 0.98%; the Company continues to operate all of its share plans within the 10% in 10 years share plans dilution limit.\n \n \n Details of the awards to PDMRs under the Plan are as follows:\n \n \n \n \n \n \n \n Director\n \n \n \n \n \n \n Number of Options issued under the Plan\n \n \n \n \n \n \n \n Stephen Heapy, Chief Executive Officer\n \n \n \n \n 87,591\n \n \n \n \n \n \n Gary Brown, Group Chief Financial Officer\n \n \n \n \n 66,875\n \n \n \n \n \n \n \n \n \n In addition, on 18 July 2022, Stephen Heapy and Gary Brown subscribed for 18,262 and 17,216 Ordinary Shares at 1.25p per Ordinary Share, respectively, pursuant to the vesting of a deferred award granted under the Senior Executive Incentive (Deferred Award) Plan representing the deferred element of the bonus earned for the financial year ended 31 March 2019.\n \n \n In order to fund only the income tax, National Insurance liabilities and administrative fees arising on vesting, Stephen Heapy and Gary Brown subsequently sold 8,796 and 8,303 Ordinary Shares and retained the balance of 9,466 and 8,913 Ordinary Shares, respectively.\n \n \n Following these transactions, Mr Heapy beneficially holds a total of 283,096 Ordinary Shares, representing approximately 0.13% of the Company's issued share capital, and Mr Brown beneficially holds a total of 102,599 Ordinary Shares, representing approximately 0.05% of the Compan...