Business
Transaction in Own Shares & Restricted Stock Units
Transaction in Own Shares & Restricted Stock Units.
About this update from Somero Enterprises, Inc.
[{"type":"text","content":"\n \nRNS Number : 0956T Somero Enterprises Inc. 18 March 2019 \n\n18 March 2019\nSomero Enterprises Inc.\n \n(\"Somero\" or the \"Company\")\n \nTransactions in Own Shares and Restricted Stock Units\n \nSenior Management Equity Bonus Program\n \nOn 15 March 2019, the Board of the Company approved the issuance of 39,373 new shares of common stock to senior managers, including certain executive Directors, under Somero's 2018 Equity Bonus Plan (the \"Plan\"). Under the Plan, eligible senior managers were able to choose to receive up to 50% of their 2018 annual performance bonus in shares of common stock in the Company. The shares issued to participating senior managers are fully-vested with no performance conditions. The number of shares issued under this award was based on the closing price on 15 March 2019 of 385 pence. The following executive Directors received shares under this award:\n\n\n\n\nName\n\n\nExisting holding of \nCommon Stock\n\n\nAwarded under \nthe Plan\n\n\nResulting Shareholding\n\n\n\n\nHoward Hohmann\n\n\n54,067\n\n\n19,595\n\n\n73,662\n\n\n\n\nJohn Yuncza\n\n\n84,169\n\n\n8,142\n\n\n92,311\n\n\n\n\n \nApplication will be made to the London Stock Exchange for admission to trading on AIM of the shares of common stock in the Company to satisfy this common stock award (\"Admission\"). Admission is expected to occur on or about 22 March 2019. The new shares of common stock will rank pari passu with the existing common stock in the Company.\n \nIn conjunction with this common stock award, the Board of the Company has approved the cancellation of shares held in Treasury.\n \nRestricted Stock Unit Awards\n \nAlso on 15 March 2019, the Board of the Company approved issuance of Restricted Stock Units (RSUs) to the following executive and non-executive Directors under the terms of Somero's 2010 Equity Incentive Plan at a price of 385 pence per RSU based on the closing price on 15 March 2019. \nName Number of RSUs awarded\nLawrence Horsch &nbs...