Information  X 
Enter a valid email address

PureTech Health PLC (PRTC)

  Print      Mail a friend

Tuesday 19 June, 2018

PureTech Health PLC

Director/PDMR Shareholding

RNS Number : 7846R
PureTech Health PLC
19 June 2018
 

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 15 June 2018. 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 2021. 

The RSUs have been awarded to the directors and PDMRs in respect of a total of 3,207,421 Ordinary Shares (representing approximately 1.14 per cent. of the issued ordinary share capital of PureTech) as follows:

Director/PDMR

Number of Ordinary Shares in respect of RSUs granted on 15 June 2018

Percentage of issued ordinary share capital

Daphne Zohar

1,035,628

0.37%

Bharatt Chowrira

192,033

0.07%

Joesph Bolen

346,644

0.12%

Eric Elenko

346,644

0.12%

Joep Muijrers

593,185

0.21%

Stephen Muniz

346,644

0.12%

David Steinberg

346,644

0.12%

 

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), Relative Shareholder Return 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 2020 ("Performance Period"), as further described in the Directors' Remuneration Report of PureTech's 2017 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 2021. 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 (PRTC.L) is an advanced, clinical-stage biopharmaceutical company developing novel medicines targeting serious diseases that result from dysfunctions in the nervous, immune, and gastrointestinal systems (brain-immune-gut or the "BIG" axis), which together represent the adaptive human systems. PureTech Health is at the forefront of understanding and addressing the biological processes and crosstalk associated with the BIG axis. By harnessing this emerging field of human biology, PureTech Health is pioneering new categories of medicine with the potential to have great impact on people with serious diseases. PureTech Health is advancing a rich pipeline of innovative therapies that includes two pivotal stage programmes, multiple human proof-of-concept studies and a number of early clinical and pre-clinical programmes. PureTech's research and development pipeline has been advanced in collaboration with some of the world's leading scientific experts, who along with PureTech's team of biopharma pioneers, entrepreneurs and seasoned Board, identify, invent, and clinically de-risk new medicines. With this experienced team pursuing cutting edge science, PureTech Health is building the biopharma company of the future focused on improving and extending the lives of people with serious disease. For more information, visit www.puretechhealth.com or connect with us on Twitter @puretechh.

 

Contact:

Investors

 EU media

Allison Mead Talbot

+1 617 651 3156

[email protected]

Ben Atwell, Rob Winder

+44 (0) 20 3727 1000

[email protected]

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
END
 
 
DSHLVLLFVQFLBBX

a d v e r t i s e m e n t