Director Shareholding

RNS Number : 7147N

Somero Enterprises Inc.

20 May 2015

 

Somero Enterprises, Inc ® (the "Company")

20 May 2015

Director Shareholding

On 19 May 2015, the Board of the Company approved awards to the following executive Director under the terms of Somero's 2010 Equity Incentive Plan at a price of 137.5 pence per restricted share unit (RSU) being the closing price on 18 May 2015.

Name                                    Existing Shareholding                                    Number of RSU awarded

John Yuncza                       0 shares                                                               32,639

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 Director will, following the end of the performance period, be notified as to the extent to which the performance conditions have been met and their award has vested.

Unless determined otherwise by the administrator of the scheme, each Restricted Stock Unit will be equal to one ordinary share in the Company and will entitle the Director to either ordinary shares or an amount of cash determined with reference to the value of ordinary shares at the discretion of the Company.

Enquiries:

Somero Enterprises, Inc.                                                                              Tel: [phone]

Jack Cooney, CEO

John Yuncza, CFO

Howard Hohmann, Executive Vice President of Sales

Canaccord Genuity Limited                                                                         Tel: [phone]

Piers Coombs

Peter Stewart

Mark Whitmore

 

END

 

 

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