Business
New Share Option Scheme and Award of Options
Solid State plc has announced the approval of a new share option scheme, the 2026 Scheme, which updates its existing Long Term Incentives Plan to align with EMI rules and incentivize senior management. Options have been granted to Executive Directors and PDMRs, with vesting contingent on achieving earnings per share of at least 11.5 pence by March 2028, scaling up to a maximum at 16.0 pence. John Macmichael and Peter James were granted options for up to 225,000 shares each, in addition to other holdings, while four other PDMRs received options for up to an aggregate of 280,000 shares. Previously awarded options totaling 600,375 to Directors and PDMRs have lapsed due to unmet performance conditions. Disclaimer*
About this update from Solid State Plc
[{"type":"text","content":"\n\n \nSolid State plc\n(\"Solid State\", the \"Group\" or the \"Company\")\nNew Share Option Scheme and Award of Options\n \nSolid State plc (AIM: SOLI), the specialist value added component supplier and design-in manufacturer of computing, power, and communications products, announces that the Board has approved a new share option scheme (the \"2026 Scheme\"), updating the existing Long Term Incentives Plan (\"LTIP\") to include the necessary wording to be eligible with the EMI rules. The LTIP is intended to incentivise senior management and align remuneration with the delivery of long-term shareholder value.\nIn connection with approval of the 2026 Scheme, options over ordinary shares in the Company (\"Options\") have been granted to certain Executive Directors and PDMRs of the Company.\nThe Options are subject to a performance condition based on earnings per share (\"EPS\") for the financial year-ended 31 March 2028, such that no Options will vest unless EPS reaches at least 11.5 pence per share. Where this threshold is met, the number of Options that vest will increase on a straight-line basis up to a maximum level at EPS of 16.0 pence per share (the \"Vesting Ceiling\"). Any EPS in excess of the Vesting Ceiling will not result in any further Options vesting above this level.\nIn respect of the Executive Directors, the relevant thresholds are set out below:\n\n\n\n\nExecutive Director\n\n\nMinimum number of Options (EPS of 11.5 p)\n\n\nMaximum number of Options (EPS 16.0 p)\n\n\nOther Options held\n\n\nTotal Options held (at maximum threshold)\n\n\n\n\nJohn Macmichael\n\n\n71,000\n\n\n225,000\n\n\n106,000\n\n\n331,000\n\n\n\n\nPeter James\n\n\n71,000\n\n\n225,000\n\n\n187,000\n\n\n412,000\n\n\n\n\n \nIn addition to the executive directors listed above, four other PDMRs have been granted Options over a maximum aggregate total of 280,000 ordinary shares, with a corresponding minimum aggregate potential vesting of 140,000 ordinary shares. On an individual basis, the Options range from a maximum of 70,000 ordinary shares per PDMR, to a minimum of 35,000 ordinary shares per PDMR. Vesting of these awards is subject to the same EPS performance condition, straight-line vesting mechanism and Vesting Ceiling as for the executive Directors.\nVesting of all Options is also subject to continued employment and ...