Business
Grant of Awards under the Safestore 2020 LTIP
Grant of Awards under the Safestore 2020 LTIP.
About this update from Safestore Holdings Plc
[{"type":"text","content":"\n \n \n RNS Number : 0234H\n Safestore Holdings plc\n 20 March 2020\n \n \n \n \n 20 March 2020\n \n \n \n \n \n Safestore Holding plc (the \"Company\")\n \n \n \n \n \n Grant of Awards under the Safestore 2020 Long Term Incentive Plan \n \n \n \n \n \n Notification of Transactions by Persons Discharging Managerial Responsibility (\"PDMRs\")\n \n \n \n \n \n The Company announces that awards have been granted under the Company's 2020 Long Term Incentive Plan (\"2020 LTIP\") approved by shareholders at its annual general meeting held on 18 March 2020.\n \n \n \n \n \n The Company has been notified of the following transactions in the Company's Ordinary shares of 1p each undertaken by directors / persons discharging managerial responsibility ('PDMRs') \n on 18 March 2020 in accordance with the rules of the Safestore 2020 Long Term Incentive Plan.\n \n \n \n \n \n \n \n \n Name\n \n \n \n \n Status\n \n \n \n \n Number of Ordinary Shares under LTIP Award\n \n \n \n \n Option Price\n \n \n \n \n \n \n Frederic Vecchioli\n \n \n \n \n Chief Executive Officer \n \n \n \n \n 123,489\n \n \n \n \n \n \n \n \n \n \n £Nil\n \n \n \n \n \n \n Andy Jones\n \n \n \n \n Chief Financial Officer \n \n \n \n \n 87,986\n \n \n \n \n £Nil\n \n \n \n \n \n \n \n \n No consideration was paid for the grant of the LTIP Awards which are structured as nil cost options. The number of Ordinary Shares granted under each LTIP Award has been calculated using an Ordinary Share price of 674pence per share, being the closing share price on the dealing day immediately before the date of grant.\n \n \n \n \n \n The normal vesting date of the LTIP Awards will be \n 18 March\n 2023, being the third anniversary of the award date. Once vested, the LTIP Award will normally be exercisable until the day before the tenth anniversary of the award date. The LTIP Awards are subject to a two-year holding period commencing on vesting. \n \n \n \n \n \n The LTIP Awards will normally vest after 3 years based on the satisfaction of the following performance conditions which are each measured over a 3 year period:\n \n \n \n \n \n i. Two-thirds based on adjusted diluted EPRA EPS growth: 5% p.a. growth (threshold); 8% p.a. growth (maximum).\n \n \n ii. One-sixth based on relative TSR a...