Business
Exercise of LTIP Options by PDMRs
Exercise of LTIP Options by PDMRs.
About this update from Rhi Magnesita Nv
[{"type":"text","content":"\n\n31 May 2023\nRHI Magnesita N.V.\n(\"RHI Magnesita\" or the \"Company\")\n \nExercise of LTIP Options by PDMRs\n \n \nRHI Magnesita N.V. announces that on 30 May 2023, certain persons discharging managerial responsibilities (\"PDMRs\") have exercised share options over 71,989 ordinary shares, represented by depositary interests, of €1 each (the \"Awards\") in the capital of the Company (\"Ordinary Shares\" or \"Shares\"). The Awards, made under the terms of the Company's Long Term Incentive Plan (\"LTIP\"), were granted on 8 April 2020.\n \nThe Awards vested on 5 May 2023, following the assessment of the performance conditions as disclosed in the 2022 Remuneration Report on page 132 of the 2022 Annual Report, which can be found on the Company's website at www.rhimagnesita.com.\n \nShares acquired on exercise must be retained until the fifth anniversary of the date of grant, being 8 April 2025, other than to pay related taxes. No shares are being sold to cover taxes. The Awards are subject to clawback provisions as outlined in the LTIP rules, available on the Company's website.\n \nTo satisfy the exercise of these Awards, Shares are being transferred from the Company's treasury account. No consideration is payable for the vesting of Awards.\n \nPDMRs exercised their Awards as follows:\n \n\n\n\n\nDirector/PDMR\n\n\nPosition\n\n\nOptions exercised\n\n\nShares sold to cover personal tax liabilities\n\n\n\n\nStefan Borgas \n\n\nChief Executive Officer\n\n\n50,042\n\n\n0\n\n\n\n\nIan Botha\n\n\nChief Financial Officer\n\n\n21,497\n\n\n0\n\n\n\n\n \nThe notification below is made in accordance with the requirements of the EU Market Abuse Regulation as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018.\n \n \n \n\n\n \n \n\n\n\n\n1\n\n\nDetails of the person discharging managerial responsibilities/person closely associated\n\n\n\n\n \n\n\n \n\n\n\n\na)\n\n\nName\n\n\nStefan Borgas\n\n\n\n\n2\n\n\nReason for the notification\n\n\n\n\na)\n\n\nPosition/status\n\n\nChief Executive Officer\n\n\n\n\nb)\n\n\nInitial notification/Amendment\n\n\nInitial notification\n\n\n\n\n3\n\n\nDetails of the issuer, emission allowance market par...