Conditional awards over ordinary shares of £0.02 pence in HastingsGroup Holdingsplc (the "Company") were granted to the following PDMR under the Hastings 2015 Long-Term Incentive Plan (the "Award(s)") as follows:
Position/Date of Grant
Number of shares subject to Award
16 September 2019
18 September 2019
No consideration was paid for the grant of the Awards.
The number of shares subject to the Awards was determined by using the average mid-market closing price of the Company's ordinary shares over the five consecutive dealing days beginning with the dealing day on which the Company made a preliminary announcement of its half year results for the period ended 30 June 2019, which was £1.8614 pence per share.
The vesting of the Award is subject to the PDMR's continued employment with the Company and performance conditions measuring the Company's EPS and TSR over a performance period of three financial years, commencing 1 January 2019. The Award is subject to a holding period of two years upon vesting.
The Award will vest, subject to the PDMR's continued employment with the Company, in four tranches as follows: 100,943 Shares on 30 March 2020; 100,943 Shares on 30 March 2021; 100,943 Shares on 30 March 2022; and 100,943 Shares on 30 March 2023.
There are no performance conditions attaching to the Award and no holding period applies upon vesting.
The Award was approved by the Company's Remuneration Committee, in accordance with the requirements ofLR 9.4.2R(2) of the FCA's Listing Rules, in order to facilitate the PDMR's recruitment as Chief Financial Officer of the Company to reflect the value of awards forfeited by him as a result of his resignation from his former employer.
Theaboveinformationisdisclosedpursuanttoarticle 19 of the Market Abuse Regulation.
Instinctif Partners Tim Linacre / Lewis Hill T: +44 (0) 207 457 2020 [email protected]
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