Business
Grant of Options
Grant of Options.
About this update from Nexteq Plc
[{"type":"text","content":"\n\n7 May 2025\n \nNexteq plc\n \n(\"Nexteq, the \"Company\" or the \"Group\")\n \nGrant of Options\n \nNexteq plc (AIM: NXQ), a leading technology solutions provider to customers in selected industrial markets, announces today that, under the Nexteq plc 2022 Long Term Incentive Plan, the Board has granted options (\"Options\") over ordinary shares of 0.1 pence each in the capital of the Company (\"Ordinary Shares\") consisting of 741,705 Performance Share Awards and 77,519 Restricted Share Awards to persons discharging managerial responsibilities (\"PDMR's\") in the business.\n \nVesting of the Performance Share Awards is subject to performance conditions as follows:\n1. The vesting of 70 per cent. of such awards (the \"EPS Part\") would be dependent on the Company's adjusted earnings per share performance for the financial year ending 31 December 2027.\n \n2. No portion of the EPS Part can performance vest unless the Company's EPS performance equated to a compound annual growth rate (\"CAGR\") of 10% for which one quarter of the EPS Part would performance vest, rising on a straight line basis to full performance vesting of the EPS Part for the Company's EPS performance equating to a CAGR of 20% or higher.\n \n3. The vesting of 30 per cent. of such awards (the \"TSR Part\") would be dependent on the Company's total shareholder return (\"TSR\") performance over a three-year period commencing on the grant of the awards.\n \n4. No portion of the TSR Part can performance vest unless the Company's TSR performance equated to a CAGR of 10% for which one quarter of the TSR Part would performance vest rising on a straight line basis to full performance vesting of the TSR Part for the Company's TSR performance equating to a CAGR of 20% or higher. Three month averaging periods prior to the start and end of the measurement period would be used in relation to the TSR calculations.\nThe Restricted Share Awards vest over a three-year period and there are no performance conditions attached. All Options are exercisable at the Company's nominal value of 0.1 pence per Ordinary Share.\nDetails of the options granted to PDMRs are as follows:\n\n\n\n\nName\n\n\nTitle\n\n\nNumber of Performance Share Awards...