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PureTech Health PLC (PRTC)

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Tuesday 23 May, 2017

PureTech Health PLC

Director/PDMR Shareholding

RNS Number : 9000F
PureTech Health PLC
23 May 2017
 

PureTech Health plc

Performance Share Plan

PureTech Health plc ("PureTech") announces that awards of restricted share units ("RSUs") were granted by PureTech to certain directors and other persons discharging managerial responsibilities ("PDMRs") pursuant to its Performance Share Plan ("PSP") on 19 May 2017. Each RSU entitles the holder to one ordinary share of par value one pence each in PureTech ("Ordinary Share") upon the satisfaction of performance vesting conditions which shall occur no earlier than 1 January 2020. 

The RSUs have been awarded to the directors and PDMRs in respect of a total of 4,648,082 Ordinary Shares (representing approximately 1.96 per cent. of the issued ordinary share capital of PureTech) as follows:

Director/PDMR

Number of Ordinary Shares in respect of RSUs granted on 17 May 2017

Percentage of issued ordinary share capital

Daphne Zohar

1,362,393

0.57

Bharatt Chowrira

1,010,495

0.43

Joesph Bolen

455,039

0.19

Eric Elenko

455,039

0.19

Michael MacLean

455,039

0.19

Stephen Muniz

455,039

0.19

David Steinberg

455,039

0.19

 

Vesting of the RSUs is subject to the satisfaction of performance conditions based on the achievement of Total Shareholder Return targets (50 per cent. of the awards), Net Asset Value growth targets (25 per cent. of the awards) and targets based on strategic measures (25 per cent. of the awards), measured over the three year period to 31 December 2019 ("Performance Period"), as further described in the Directors' Remuneration Report of PureTech's 2016 Annual Report and Accounts. The awards will generally vest following the end of the Performance Period on determination of the extent to which the performance conditions have been satisfied. No award can vest before 1 January 2020. The number of Ordinary Shares stated in the table above is the maximum number that could be issued to each director or PDMR upon full satisfaction of the performance conditions attaching to the RSUs.  The RSUs were granted for nil consideration.  Following vesting, each recipient will be required to make a payment of one pence per Ordinary Share on settlement of the RSUs.  All awards are subject to recovery and withholding provisions.

 

 

About PureTech Health

PureTech Health (PureTech Health plc, PRTC.L) is an advanced, clinical-stage biopharmaceutical company developing novel medicines that modulate the adaptive human systems. PureTech's therapies target the dysfunctions in the immune, nervous, and gastro-intestinal systems by addressing the underlying pathophysiology of disease from a systems perspective rather than through a single receptor or pathway. The Company is advancing a rich pipeline that includes multiple human proof-of-concept studies and pivotal or registration studies expected to read out over the next 12-18 months. PureTech Health's growing research and development pipeline has been developed in collaboration with some of the world's leading scientific experts, who along with PureTech's experienced team and a stellar Board identify, analyse and advance very selectively the opportunities the Company believes hold the most promise for patients. This experienced and engaged team places PureTech Health at the forefront of ground-breaking science and technological innovation and leads the Company between and beyond existing disciplines. For more information, visit www.puretechhealth.com or connect with us on Twitter @puretechh.

 

For further information:


PureTech Health

FTI Consulting


Allison Mead

+1 617 651 3156

[email protected]

Ben Atwell, Matthew Cole, Rob Winder

+44 (0) 20 3727 1000

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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