Business
Issuance of RSUs and Options
Issuance of RSUs and Options.
About this update from Zinnwald Lithium Plc
[{"type":"text","content":"\n \n \n 23 March 2023\n \n \n Zinnwald Lithium plc\n \n \n \n \n \n (\"Zinnwald Lithium\" or the \"Company\")\n \n \n \n \n \n Issuance of RSUs and Options\n \n \n \n \n \n Zinnwald Lithium plc (AIM: ZNWD), the German focussed lithium development company, announces the grant of a total of 3,406,780 Restricted Share Units (\"RSUs\") and 2,450,000 Options under the Company's Long-Term Incentive Plans relating to performance in 2022 as detailed in the 2022 Annual Accounts published on 22 March 2023.\n \n \n \n \n \n The RSUs being granted to Executive Management under the terms of the RSU Scheme, approved by shareholders in October 2020, relate to the second performance period that ran from 1 January 2022 to 31 December 2022. The RSUs will vest two years from the date of grant, being 23 March 2025, and the related shares (or cash alternative at the Company's discretion) will be issued on that date. The RSUs are being granted to Executive Management on the following basis:\n \n \n \n \n \n \n \n \n \n \n Name\n \n \n \n \n \n \n Role\n \n \n \n \n \n \n No of RSUs\n \n \n \n \n \n \n Grant Date\n \n \n \n \n \n \n Vesting Date\n \n \n \n \n \n \n \n Anton du Plessis\n \n \n \n \n CEO\n \n \n \n \n 2,135,593\n \n \n \n \n 23 March 2023\n \n \n \n \n 23 March 2025\n \n \n \n \n \n \n Cherif Rifaat\n \n \n \n \n CFO\n \n \n \n \n 1,271,186\n \n \n \n \n 23 March 2023\n \n \n \n \n 23 March 2025\n \n \n \n \n \n \n \n Total\n \n \n \n \n \n \n \n \n \n \n \n \n \n 3,406,780\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n The 2,450,000 Options have been granted to employees, consultants and Directors under the terms of the Scheme put in place at the time of the Company's original IPO in 2017. These Options to acquire ordinary shares in the capital of the Company have been granted at a price of 10.41p being the price of the Fundraise that was announced on 22 March 2023. Such options vest as to 1/3 on the date of grant and an additional 1/3 on each of the first and second anniversaries of the date of grant and are exercisable for a period of five years. The Options are being granted on the following basis:\n \n \n \n \n \n \n \n \n \n \n Name\n \n \n \n \n \n \n Role\n \n \n \n \n \n \n No of Options\n \n \n \n \n \n \n Issue Price\n \n \n \n \n \n \n Gr...