Business
Director Dealings
Director Dealings.
About this update from Norcros Plc
[{"type":"text","content":"\n \n \n \n Norcros plc (\"Norcros\" or \"the Company\")\n \n \n \n Director Dealings - APSP Share Option and Deferred Share awards\n \n \n \n \n \n \n Director/PDMR Shareholding\n \n \n \n Norcros announces that the Board, following a recommendation from the Remuneration Committee, has granted new share options to the following Directors under the Company's Approved Performance Share Plan (the \"APSP\") and Deferred Bonus Plan (the \"DBP\") on 19 July 2022.\n \n \n The notifications below, made in accordance with the requirements of the EU Market Abuse Regulation (\"MAR\"), provides further detail.\n \n \n APSP Share Option Awards\n \n \n The Company has today granted the following unapproved nil cost share option awards under the APSP in respect of the current financial year (the \"APSP Awards\") to two Executive Directors of the Company over ordinary shares of ten pence each in the Company (\"Ordinary Shares\"). \n \n \n Under the APSP, awards are made subject to performance targets relating to improvements in the Company's Earnings Per Share (\"EPS\"). Vesting of these Ordinary Shares will be subject to achieving aggregate diluted EPS targets over a three year performance period, starting with the 2023 financial year.\n \n \n The APSP Awards will normally vest on the third anniversary of their grant, subject to satisfactory achievement of the performance targets. No consideration was paid for the APSP Awards.\n \n \n \n \n \n \n \n Name\n \n \n \n \n \n \n Number of Ordinary Shares subject to the APSP Award\n \n \n \n \n \n \n \n Nick Kelsall\n \n \n \n \n 218,348\n \n \n \n \n \n \n James Eyre\n \n \n \n \n 133,027\n \n \n \n \n \n \n \n \n \n Bonus payment - Deferred Share Awards\n \n \n Under the annual bonus scheme, 50 per cent. of an Executive Director's total bonus for the year is satisfied in cash, with the other 50 per cent. in the form of nil cost options under the DBP. These options represent 50 per cent. of the bonuses earned by the Executive Directors for the 2022 financial year. \n \n \n Norcros therefore also announces the grant of the following nil cost share option awards under the DBP in respect of the year ended 31 March 2022 (the \"Deferred Awards\") to the relevant Executive Director of the Company over Ordinary Shares.\n \n \n \n \n \n \n \n Name\n \n \n \n \n \n \...