Director/PDMR Shareholding

RNS Number : 9309Y

Somero Enterprises Inc.

30 January 2014

 



Somero Enterprises, Inc ® (the "Company")
30 January 2014
DIRECTOR SHAREHOLDING
On 29 January 2014, the Board of the Company approved awards to the following executive Directors under the terms of Somero's 2010 Equity Incentive Plan at a price of 116p pence per restricted share unit (RSU) being the closing price on 29 January 2014.
Name	Existing shareholding	Number of RSU awarded
Jack Cooney	4,227,102 shares	59,977 shares
Mike Niemela	108,166 shares	30,775 shares
Additionally, 93,294 RSU were granted to 18 other employees below Director level. The total number of RSU granted on 29 January was therefore 184,046 units.  The number of shares referred to is the maximum available under the grant and the awarded shares will vest over a three-year period beginning on the date of the grant and require continued employment for the period. The participating Directors and other employees will, following the end of the performance period, be notified as to the extent to which the performance conditions have been met and their awards have vested.
Should an award vest then each restricted stock unit will be satisfied by the issue to the employee of one ordinary share in the Company.
The Company's total issued share capital is 56,425,598 ordinary shares.

Enquires:

Canaccord Genuity Limited (Nominated Adviser & Broker)             Tel: [phone]

Chris Robinson

Piers Coombs

 

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