Grant of awards under Long Term Incentive Plan

CT Automotive Group PLC
02 February 2024
 

 

CT Automotive Group plc (the "Company")

Grant of awards under Long Term Incentive Plan

 

CT Automotive Group plc announces that on 1 February 2024, the Company awarded 374,999 nominal cost options under the CT Automotive Long Term Incentive Plan 2022 to certain senior executives, including its Chief Executive Officer (as set out in the table below). The award is over ordinary shares of £0.005 ("Ordinary Shares") in the form of options to acquire Ordinary Shares at nominal value ("LTIP Awards").

  

Executive

Role

Number of LTIP Awards

Simon Phillips

Chief Executive Officer and Director

134,146

 

The LTIP Awards to senior executives will vest on the third anniversary of grant subject to meeting earnings per share performance criteria for the three year period ending FY2025. 25% of the LTIP Awards will vest on meeting minimum performance criteria, with vesting thereafter on a straight-line basis.

In addition, the Company awarded 97,560 nominal cost options under the same plan to certain senior managers. These awards vest on the third anniversary of grant subject to continued employment and no further performance conditions.

For further information, please contact:

CT Automotive    

Simon Phillips, Chief Executive Officer

via MHP



MHP (Financial PR)

Tim Rowntree

Charlie Barker

Tel: +44 (0)20 3100 8540

CTAutomotive@mhpgroup.com

 



Liberum (Nominated Adviser and Broker)

Richard Lindley

Benjamin Cryer

Tel: +44 (0)20 3100 2000

 

                                             

The information set out below is provided in accordance with the requirements of Regulation 19(3) of the EU Market Abuse Regulation No 596/2014: 

1

Details of the person discharging managerial responsibilities/person closely associated

(a)

Name

Simon Phillips

2

Reason for the notification

(a)

Position/status

Chief Executive Officer

 

(b)

Initial notification/Amendment

Initial notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

(a)

Name

CT Automotive Group plc

(b)

LEI

213800RP7B4UJ1DDKY67

4

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

(a)

Description of the financial instrument, type of instrument

Identification code

Options over Ordinary shares of £0.005 pence each

ISIN GB00BMHYGR77

 

(b)

Nature of the transaction

Award of options pursuant to CT Automotive Group plc 2022 Long Term Incentive Plan

(c)

Price(s) and volume(s)


Price(s)

Volume(s)

 

 

NIL

134,146

(d)

Aggregated information

-         Aggregated volume

-         Price

N/A

(e)

Date of the transaction

1 February 2024

(f)

Place of the transaction

Outside a trading venue

 

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END
 
 
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