Business
Surrender and Granting of Options
Surrender and Granting of Options.
About this update from Quartix Technologies Plc
[{"type":"text","content":"\n \n \n 22 December 2022\n \n \n \n Quartix Technologies plc\n \n \n \n \n (\"Quartix\", \"the Group\" or \"the Company\")\n \n \n \n \n Surrender and Granting of Options\n \n \n \n \n \n \n Quartix Holdings PLC (AIM: QTX), a leading supplier of vehicle tracking systems, announces that on 20 December 2022 Emily Rees, Chief Financial Officer, who is a PDMR, has surrendered for no consideration 51,546 options granted on 24 May 2021 and Richard Lilwall, Chief Executive Officer, who is a PDMR has surrendered for no consideration 58,823 options granted on 18 October-2021. \n \n \n \n \n \n Subsequent to this, Emily Rees and Richard Lilwall have both, in accordance with the Long Term Incentive Plan established by Resolution of the Board of Directors, been granted on 22 December 2022 106,000 options over ordinary shares of 1 pence each exercisable at the nominal share price. These options are granted over a period of three years and vest subject to stretching performance conditions on 3-year compound increase across three measures: Annual Recurring Revenue (ARR), Free Cash Flow (FCF) and Total Shareholder Return (TSR). The overall blend of options is 57% based on ARR, 22%\n FCF and 22% TSR.\n \n \n \n \n \n The performance conditions are based on compound growth from baselines in each measure, within a threshold and maximum envelope of:\n \n \n ·\n ARR - 7.5% to 15% per year\n \n \n ·\n FCF - 7.5% to 15% per year\n \n \n ·\n TSR - 10% to 20% per year\n \n \n \n \n \n Further details on the long-term incentive plan will be detailed in the company's annual report.\n \n \n \n \n \n \n \n \n For further information, please contact:\n \n \n \n \n \n \n \n Quartix\n \n (www.quartix.net)\n \n \n Richard Lilwall, Chief Executive Officer\n \n \n Emily Rees, Chief Financial Officer\n \n \n \n \n 01686 806 663\n \n \n \n \n \n \n \n finnCap (Nominated Adviser and Broker)\n \n \n \n Matt Goode / Seamus Fricker (Corporate Finance)\n \n \n Alice Lane / Sunila de Silva (Corporate Broking)\n \n \n \n \n \n 020 7220 0500\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them\n \n \n \n \n \n \n \...