19:19 Wed 26 Aug 2020
Verona Pharma plc: Grant of RADSUs and PDMR Dealings
Each RADSU represents an unfunded, unsecured right to receive, on the applicable settlement date, one American Depositary Share (“ADS”), or an amount in cash or other consideration.
Grants to PDMRs
Of the RADSUs granted, the following grants were made to persons discharging managerial responsibilities (“PDMRs”):
- 14,500 RADSUs, representing 116,000 Ordinary Shares or 0.03% of the TVR, were granted to each non-executive director of the Company. The RADSUs granted to the non-executive directors will vest 50% at
November 1, 2020 , 25% atFebruary 1, 2021 and the remaining 25% atMay 1, 2021 . - 1,785,203 RADSUs, representing 14,281,624 Ordinary Shares, were granted to Dr
David Zaccardelli , CEO, and 1,916,861 RADSUs, representing 15,334,888 Ordinary Shares, were granted to MrMark Hahn , CFO, pursuant to their employment agreements, as detailed in the Company’s 2019 20-F SEC filing. Following the grants,Dr Zaccardelli will hold 2,356,386 RADSUs, representing 18,851,088 Ordinary Shares or 4.55% of the TVR, andMr Hahn will hold 2,334,111 RADSUs, representing 18,672,888 Ordinary Shares, or 4.50% of the TVR. The newly granted RADSUs will vest as to 25% onFebruary 1, 2021 , being the first anniversary of commencement of Dr Zaccardelli’s and Mr Hahn’s employment, and the balance over the remaining three years in twelve equal instalments upon completion of each successive three-month period of continued employment by the relevant executive. - 383,395 RADSUs, representing 3,067,160 Ordinary Shares or 0.74% of the TVR, were granted to Dr
Kathleen Rickard , CMO, and 340,000 RADSUs, representing 2,720,000 Ordinary Shares or 0.66% of the TVR, were granted toClaire Poll , General Counsel. These RADSUs will vest as to 25% onAugust 1, 2021 , and the balance over the remaining three years in twelve equal instalments upon completion of each successive three-month period of continued employment by the relevant executive.
The notification of dealing form in respect of RADSU awards for each PDMR can be found below.
Grants to employees
Additional RADSU grants were made to certain employees over a total of 2,253,062 ADSs, representing 18,024,496 Ordinary Shares, or 4.35% of the TVR. The vesting of these RADSUs is on the same basis as for the RADSUs granted to
For further information, please contact:
Tel: +44 (0)20 3283 4200 | |
info@veronapharma.com | |
N+1 Singer (Nominated Adviser and | Tel: +44 (0)20 7496 3000 |
1 | Details of the person discharging managerial responsibilities / person closely associated | ||
a) | Dr | ||
2 | Reason for the notification | ||
a) | Position/status | Non-Executive Chairman | |
b) | Initial notification /Amendment | Initial Notification | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a) | |||
b) | Legal Entity Identifier | 213800EVI6O6J3TIAL06 | |
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
a) | Description of the financial instrument, type of instrument | Restricted American Depositary Share Units (RADSUs) over American Depositary Shares (“ADSs”), each ADS representing 8 Ordinary Shares. | |
Identification code | ADS ISIN Code: US9250501064 | ||
b) | Nature of the transaction | Grant of RADSUs | |
c) | Price(s) and volume(s) | Price(s) | Volume(s) |
No consideration paid | 14,500 RADSUs (representing 116,000 Ordinary Shares) | ||
d) | Aggregated information - Aggregated volume - Price | N/A (single transaction) | |
e) | Date of the transaction | ||
f) | Place of the transaction | Outside a trading venue |
1 | Details of the person discharging managerial responsibilities / person closely associated | ||
a) | Dr | ||
2 | Reason for the notification | ||
a) | Position/status | Chief Executive Officer | |
b) | Initial notification /Amendment | Initial Notification | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a) | |||
b) | Legal Entity Identifier | 213800EVI6O6J3TIAL06 | |
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
a) | Description of the financial instrument, type of instrument | Restricted American Depositary Share Units (RADSUs) over American Depositary Shares (“ADSs”), each ADS representing 8 Ordinary Shares. | |
Identification code | ADS ISIN Code: US9250501064 | ||
b) | Nature of the transaction | Grant of RADSUs | |
c) | Price(s) and volume(s) | Price(s) | Volume(s) |
No consideration paid | 1,785,203 RADSUs (representing 14,281,624 Ordinary Shares) | ||
d) | Aggregated information - Aggregated volume - Price | N/A (single transaction) | |
e) | Date of the transaction | ||
f) | Place of the transaction | Outside a trading venue |
1 | Details of the person discharging managerial responsibilities / person closely associated | ||
a) | Dr | ||
2 | Reason for the notification | ||
a) | Position/status | Non-Executive Director | |
b) | Initial notification /Amendment | Initial Notification | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a) | |||
b) | Legal Entity Identifier | 213800EVI6O6J3TIAL06 | |
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
a) | Description of the financial instrument, type of instrument | Restricted American Depositary Share Units (RADSUs) over American Depositary Shares (“ADSs”), each ADS representing 8 Ordinary Shares. | |
Identification code | ADS ISIN Code: US9250501064 | ||
b) | Nature of the transaction | Grant of RADSUs | |
c) | Price(s) and volume(s) | Price(s) | Volume(s) |
No consideration paid | 14,500 RADSUs (representing 116,000 Ordinary Shares) | ||
d) | Aggregated information - Aggregated volume - Price | N/A (single transaction) | |
e) | Date of the transaction | ||
f) | Place of the transaction | Outside a trading venue |
1 | Details of the person discharging managerial responsibilities / person closely associated | ||
a) | Dr | ||
2 | Reason for the notification | ||
a) | Position/status | Non-Executive Director | |
b) | Initial notification /Amendment | Initial Notification | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a) | |||
b) | Legal Entity Identifier | 213800EVI6O6J3TIAL06 | |
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
a) | Description of the financial instrument, type of instrument | Restricted American Depositary Share Units (RADSUs) over American Depositary Shares (“ADSs”), each ADS representing 8 Ordinary Shares. | |
Identification code | ADS ISIN Code: US9250501064 | ||
b) | Nature of the transaction | Grant of RADSUs | |
c) | Price(s) and volume(s) | Price(s) | Volume(s) |
No consideration paid | 14,500 RADSUs (representing 116,000 Ordinary Shares) | ||
d) | Aggregated information - Aggregated volume - Price | N/A (single transaction) | |
e) | Date of the transaction | ||
f) | Place of the transaction | Outside a trading venue |
1 | Details of the person discharging managerial responsibilities / person closely associated | ||
a) | Mr | ||
2 | Reason for the notification | ||
a) | Position/status | Non-Executive Director | |
b) | Initial notification /Amendment | Initial Notification | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a) | |||
b) | Legal Entity Identifier | 213800EVI6O6J3TIAL06 | |
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
a) | Description of the financial instrument, type of instrument | Restricted American Depositary Share Units (RADSUs) over American Depositary Shares (“ADSs”), each ADS representing 8 Ordinary Shares. | |
Identification code | ADS ISIN Code: US9250501064 | ||
b) | Nature of the transaction | Grant of RADSUs | |
c) | Price(s) and volume(s) | Price(s) | Volume(s) |
No consideration paid | 14,500 RADSUs (representing 116,000 Ordinary Shares) | ||
d) | Aggregated information - Aggregated volume - Price | N/A (single transaction) | |
e) | Date of the transaction | ||
f) | Place of the transaction | Outside a trading venue |
1 | Details of the person discharging managerial responsibilities / person closely associated | ||
a) | Dr | ||
2 | Reason for the notification | ||
a) | Position/status | Non-Executive Director | |
b) | Initial notification /Amendment | Initial Notification | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a) | |||
b) | Legal Entity Identifier | 213800EVI6O6J3TIAL06 | |
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
a) | Description of the financial instrument, type of instrument | Restricted American Depositary Share Units (RADSUs) over American Depositary Shares (“ADSs”), each ADS representing 8 Ordinary Shares. | |
Identification code | ADS ISIN Code: US9250501064 | ||
b) | Nature of the transaction | Grant of RADSUs | |
c) | Price(s) and volume(s) | Price(s) | Volume(s) |
No consideration paid | 14,500 RADSUs (representing 116,000 Ordinary Shares) | ||
d) | Aggregated information - Aggregated volume - Price | N/A (single transaction) | |
e) | Date of the transaction | ||
f) | Place of the transaction | Outside a trading venue |
1 | Details of the person discharging managerial responsibilities / person closely associated | ||
a) | Dr | ||
2 | Reason for the notification | ||
a) | Position/status | Non-Executive Director | |
b) | Initial notification /Amendment | Initial Notification | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a) | |||
b) | Legal Entity Identifier | 213800EVI6O6J3TIAL06 | |
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
a) | Description of the financial instrument, type of instrument | Restricted American Depositary Share Units (RADSUs) over American Depositary Shares (“ADSs”), each ADS representing 8 Ordinary Shares. | |
Identification code | ADS ISIN Code: US9250501064 | ||
b) | Nature of the transaction | Grant of RADSUs | |
c) | Price(s) and volume(s) | Price(s) | Volume(s) |
No consideration paid | 14,500 RADSUs (representing 116,000 Ordinary Shares) | ||
d) | Aggregated information - Aggregated volume - Price | N/A (single transaction) | |
e) | Date of the transaction | ||
f) | Place of the transaction | Outside a trading venue |
1 | Details of the person discharging managerial responsibilities / person closely associated | ||
a) | Mr | ||
2 | Reason for the notification | ||
a) | Position/status | Non-Executive Director | |
b) | Initial notification /Amendment | Initial Notification | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a) | |||
b) | Legal Entity Identifier | 213800EVI6O6J3TIAL06 | |
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
a) | Description of the financial instrument, type of instrument | Restricted American Depositary Share Units (RADSUs) over American Depositary Shares (“ADSs”), each ADS representing 8 Ordinary Shares. | |
Identification code | ADS ISIN Code: US9250501064 | ||
b) | Nature of the transaction | Grant of RADSUs | |
c) | Price(s) and volume(s) | Price(s) | Volume(s) |
No consideration paid | 14,500 RADSUs (representing 116,000 Ordinary Shares) | ||
d) | Aggregated information - Aggregated volume - Price | N/A (single transaction) | |
e) | Date of the transaction | ||
f) | Place of the transaction | Outside a trading venue |
1 | Details of the person discharging managerial responsibilities / person closely associated | ||
a) | Dr | ||
2 | Reason for the notification | ||
a) | Position/status | Non-Executive Director | |
b) | Initial notification /Amendment | Initial Notification | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a) | |||
b) | Legal Entity Identifier | 213800EVI6O6J3TIAL06 | |
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
a) | Description of the financial instrument, type of instrument | Restricted American Depositary Share Units (RADSUs) over American Depositary Shares (“ADSs”), each ADS representing 8 Ordinary Shares. | |
Identification code | ADS ISIN Code: US9250501064 | ||
b) | Nature of the transaction | Grant of RADSUs | |
c) | Price(s) and volume(s) | Price(s) | Volume(s) |
No consideration paid | 14,500 RADSUs (representing 116,000 Ordinary Shares) | ||
d) | Aggregated information - Aggregated volume - Price | N/A (single transaction) | |
e) | Date of the transaction | ||
f) | Place of the transaction | Outside a trading venue |
1 | Details of the person discharging managerial responsibilities / person closely associated | ||
a) | |||
2 | Reason for the notification | ||
a) | Position/status | Chief Financial Officer | |
b) | Initial notification /Amendment | Initial Notification | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a) | |||
b) | Legal Entity Identifier | 213800EVI6O6J3TIAL06 | |
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
a) | Description of the financial instrument, type of instrument | Restricted American Depositary Share Units (RADSUs) over American Depositary Shares (“ADSs”), each ADS representing 8 Ordinary Shares. | |
Identification code | ADS ISIN Code: US9250501064 | ||
b) | Nature of the transaction | Grant of RADSUs, each of which represents an unfunded, unsecured right to receive, on the applicable settlement date, one ADS or an amount in cash or other consideration. | |
c) | Price(s) and volume(s) | Price(s) | Volume(s) |
No consideration paid | 1,916,861 RADSUs (representing 15,334,888 Ordinary Shares) | ||
d) | Aggregated information - Aggregated volume - Price | N/A (single transaction) | |
e) | Date of the transaction | ||
f) | Place of the transaction | Outside a trading venue |
1 | Details of the person discharging managerial responsibilities / person closely associated | ||
a) | |||
2 | Reason for the notification | ||
a) | Position/status | General Counsel | |
b) | Initial notification /Amendment | Initial Notification | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a) | |||
b) | Legal Entity Identifier | 213800EVI6O6J3TIAL06 | |
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
a) | Description of the financial instrument, type of instrument | Restricted American Depositary Share Units (RADSUs) over American Depositary Shares (“ADSs”), each ADS representing 8 Ordinary Shares. | |
Identification code | ADS ISIN Code: US9250501064 | ||
b) | Nature of the transaction | Grant of RADSUs, each of which represents an unfunded, unsecured right to receive, on the applicable settlement date, one ADS or an amount in cash or other consideration. | |
c) | Price(s) and volume(s) | Price(s) | Volume(s) |
No consideration paid | 340,000 RADSUs (representing 2,720,000 Ordinary Shares) | ||
d) | Aggregated information - Aggregated volume - Price | N/A (single transaction) | |
e) | Date of the transaction | ||
f) | Place of the transaction | Outside a trading venue |
1 | Details of the person discharging managerial responsibilities / person closely associated | ||
a) | |||
2 | Reason for the notification | ||
a) | Position/status | Chief Medical Officer | |
b) | Initial notification /Amendment | Initial Notification | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a) | |||
b) | Legal Entity Identifier | 213800EVI6O6J3TIAL06 | |
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
a) | Description of the financial instrument, type of instrument | Restricted American Depositary Share Units (RADSUs) over American Depositary Shares (“ADSs”), each ADS representing 8 Ordinary Shares. | |
Identification code | ADS ISIN Code: US9250501064 | ||
b) | Nature of the transaction | Grant of RADSUs, each of which represents an unfunded, unsecured right to receive, on the applicable settlement date, one ADS or an amount in cash or other consideration. | |
c) | Price(s) and volume(s) | Price(s) | Volume(s) |
No consideration paid | 383,395 RADSUs (representing 3,067,160 Ordinary Shares) | ||
d) | Aggregated information - Aggregated volume - Price | N/A (single transaction) | |
e) | Date of the transaction | ||
f) | Place of the transaction | Outside a trading venue |
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