Business
Grant of options
Grant of options.
About this update from Newmark Security Plc
[{"type":"text","content":"\n\nNewmark Security plc\n(\"Newmark\", the \"Company\" or the \"Group\")\n \nGrant of options\n \nNewmark Security plc (AIM: NWT), a leading provider of electronic and physical security systems, announces the grant of options over ordinary shares of 5p each (\"Ordinary Shares\") to a Director and certain members of senior management of the Company under the Newmark Security plc 2019 EMI Share Option Plan (the \"Plan\").\n \nGrant of options to Newmark CEO\n \nUnder her service agreement, Marie-Claire Dwek is entitled to receive options over Ordinary Shares representing 20% of her annual salary, subject to the achievement of certain operational performance criteria in each financial period. The Company has granted EMI options to Marie-Claire Dwek over 90,000 new Ordinary Shares (the \"CEO Options\") in respect of the financial year ended 30 April 2023. The CEO Options are exercisable at 53.5p per option and vest as to 1/3 on 26 July 2024, 1/3 on 26 July 2025 and 1/3 on 26 July 2026. The CEO Options lapse on the tenth anniversary of the date of grant.\n \nFollowing the grant of the CEO Options, Marie-Claire Dwek holds options over 499,242 Ordinary Shares, equivalent to 5.33% of the Company's current issued share capital. \n \nGrant of options to Senior Management\n \nThe Company has granted an additional 105,000 options over Ordinary Shares to members of the Group's Senior Management (the \"Management Options\"), including the following grants to persons discharging managerial responsibilities (\"PDMRs\"):\n \n\n\n\nName\n\n\nRole\n\n\nNo. Management Options granted\n\n\nTotal no. of options held post grant\n\n\n% of current issued share capital\n\n\n\n\nColin Leatherbarrow\n\n\nCTO, Grosvenor\n\n\n20,000\n\n\n60,000\n\n\n0.64%\n\n\n\n\nBen Lagden\n\n\nCommercial Director, Grosvenor\n\n\n15,000\n\n\n40,000\n\n\n0.43%\n\n\n\n \nIn order to minimise dilution to shareholders whilst still providing a meaningful incentive to the recipients of the Management Options, the Management Options have an exercise price of 5p per option, being the nominal value of an Ordinary Share. The Management Options all vest on the third anniversary of the date of grant, subject to continued employment, and are exercisable up until the tenth anniversary of the date of grant. The Management Options a...