Business
Grant of awards under the Company's 2017 LTIP
Grant of awards under the Company's 2017 LTIP.
About this update from Secure Trust Bank Plc
[{"type":"text","content":"\n \nRNS Number : 2526H Secure Trust Bank PLC 06 June 2017 \n\n \nSecure Trust Bank PLC (the \"Company\")\nGrant of awards under the Company's 2017 Long Term Incentive Plan (\"LTIP\") \n \nOn 01 June 2017 Secure Trust Bank PLC granted awards over ordinary shares (\"Ordinary Shares\") under the LTIP to the following PDMRs:\n\n\n\n\nPDMR\n\n\nNumber of Ordinary Shares over which award granted\n\n\nExercise price*\n\n\n\n\nPaul Lynam\n\n\n26,335 \n\n\n£0.40 per Ordinary Share\n\n\n\n\nNeeraj Kapur\n\n\n 7,132 \n\n\n£0.40 per Ordinary Share\n\n\n\n\nKevin Hayes\n\n\n 4,389 \n\n\n£0.40 per Ordinary Share\n\n\n\n\nDavid Nield\n\n\n 4,389 \n\n\n£0.40 per Ordinary Share\n\n\n\n\nJon Bowers\n\n\n 3,292 \n\n\n£0.40 per Ordinary Share\n\n\n\n\nAnne McKenning\n\n\n 3,292 \n\n\n£0.40 per Ordinary Share\n\n\n\n\nRoy Aston\n\n\n 1,811 \n\n\n£0.40 per Ordinary Share\n\n\n\n\nAdrian Walters\n\n\n 1,920 \n\n\n£0.40 per Ordinary Share\n\n\n\n\nAlan Karter\n\n\n 841 \n\n\n£0.40 per Ordinary Share\n\n\n\n\nNick Davies\n\n\n 3,292 \n\n\n£0.40 per Ordinary Share\n\n\n\n\nNick Shepherd\n\n\n 878 \n\n\n£0.40 per Ordinary Share\n\n\n\n\nEsther Morley\n\n\n 3,292 \n\n\n£0.40 per Ordinary Share\n\n\n\n\nPaul Kilbride\n\n\n 658\n\n\n£0.40 per Ordinary Share\n\n\n\n\n*In accordance with the terms of the awards, the exercise price payable may be waived before exercise.\nEach award has been granted subject to performance conditions based on: (1) compound annual growth in Earnings Per Share over a three year performance period starting with 2017 (as regards 40% of the Ordinary Shares subject to the award); (2) the Company's total shareholder return over that performance period relative to the TSRs of a group of comparator companies (as regards 40% of the Ordinary Shares subject to the award); and (3) an assessment of the Company's approach to risk management over the performance period (as regards 20% of the Ordinary Shares subject to the award). \nEach award will, ordinarily, vest on the date on which the Company's board of directors determines the extent to which the performance conditions have been satisfied. Each award will be released so that the participant is entitled to acquire the vested Ordinary Shares on the vesting date except in the case of Paul Lynam and Neeraj...