Business
Grant of Options
Grant of Options.
About this update from Pci-pal Plc
[{"type":"text","content":"\n \nRNS Number : 9752G PCI-PAL PLC 12 November 2018 \n\n \nPCI-PAL PLC\n(\"PCI Pal\", the \"Group\" or the \"Company\")\nGrant of Options\n \nPCI-PAL PLC (AIM: PCIP), the customer engagement specialist that secures and protects payment card data for companies handling payments by phone, today announces the grant (\"Grant\") of share options to a director of the Company and to other employees of the Group exercisable over a total of 435,000 ordinary shares of 1 pence each (\"Ordinary Shares\").\n \nPersons discharging managerial responsibility (PDMRs) participating in the Grant are tabled below:\n\n\n\n\nName\n\n\nTitle\n\n\nNo Share Options granted\n\n\nDate of Grant\n\n\nEarliest Vesting date\n\n\n\n\nWilliam Good\n\n\nCFO & Main Board Director\n\n\n100,000\n\n\n08/11/2018\n\n\n08/11/2021\n\n\n\n\n \nThe PDMR option will vest after a three-year period subject to the recipient having remained in continuous employment. In addition, certain performance conditions apply to the vesting of different tranches of each award as set out below. In each case the vesting is further conditional upon the Company's share price* being greater than or equal to a benchmark price for a continuous period of 30 trading days following the date of grant (the \"Benchmark Price\"):\n\n\n\n\nTranche\nof award \n\n\n\nBenchmark Price\n\n\n\n\nInitial 50% \n\n\n26.5 pence (being the share price at the date of grant) \n\n\n\n\nFurther 25% \n\n\n40 pence (being 50% above the share price at the date of grant)\n\n\n\n\nFurther 25% \n\n\n53 pence (being 100% above the share price at the date of grant) \n\n\n\n\n \n* being the closing mid-market price published by the London Stock Exchange or as listed in the Financial Times\"\nFollowing this grant, William Good holds options over 400,000 shares and holds 140,000 Ordinary Shares. The shareholding represents approximately 0.3% the current issued share capital of the Company.\n \nIn addition to the above grant, a further 335,000 share options have been issued to employees of the Group at an exercise price of 26.5 pence per share. These options vest over a 36-month period and are subject to set performance criteria and continuous employment requirements. \n \nThe Company considers it important to attract, retain, and incentivise our employees thr...