STV Group PLC Grant of LTIP (3818T)
March 24 2021 - 11:30AM
UK Regulatory
TIDMSTVG
RNS Number : 3818T
STV Group PLC
24 March 2021
STV Group plc
Director shareholding
24 March 2021
LEI: 21380075GOOTTBDNDJ58
The following share awards were granted today, 24 March 2021:
* 468,448 conditional nil cost share awards of 50p each
to a total of nine employees under the STV Group plc
Long-Term Incentive Plan ("LTIP") which was approved
by shareholders on 26 April 2018.
The awards were granted at a price of 330 pence per ordinary
share (the closing share price on Tuesday 23 March 2021) and
these nine employees included two executive directors as follows:-
Director Shares awarded
Simon Pitts, Chief Executive
Officer 127,036
Lindsay Dixon, Chief Financial
Officer 71,323
This award will vest in three years subject to the continued
employment of the participants and the satisfaction of the undernoted
performance conditions and will be released following a further
holding period of two years from the vesting date:
Performance Calibration of targets Weighting Threshold Maximum vesting
measure vesting
(25% of max)
Annualised growth in
adjusted EPS from FY20
EPS to FY23 50% 4% 13%
-------------------------- --------- ------------- ---------------
Non-broadcast Operating profit for 30% GBP9.5m GBP16.5m
operating non-broadcast in FY23
profit
-------------------------- --------- ------------- ---------------
TSR Ranked position of the 20% Median Upper quartile
Company's shareholder
return (TSR) against
the FTSE Small Cap Index
(3 month average)
-------------------------- --------- ------------- ---------------
Additionally, as previously disclosed, the final element of
the buy-out of remuneration forfeited at his previous employer
has been awarded to Simon Pitts. Mr Pitts was awarded 30,372
shares and has sold 14,608 shares to cover the tax and NIC liability
arising on this award.
Further enquiries:
Jane E A Tames, Company Secretary, STV Group plc jane.tames@stv.tv
Kirstin Stevenson, Head of Communications, STV Group plc kirstin.stevenson@stv.tv
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END
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