PureTech Health PLC PDMR Notification RSU Vesting (5016A)
June 02 2021 - 2:00AM
UK Regulatory
TIDMPRTC
RNS Number : 5016A
PureTech Health PLC
02 June 2021
2 June 2021
PureTech Health plc
PDMR Notifications
PureTech Health plc (Nasdaq: PRTC, LSE: PRTC) ("PureTech" or the
"Company"), a clinical-stage biotherapeutics company dedicated to
discovering, developing and commercializing highly differentiated
medicines for devastating diseases, announces that awards of
restricted share units ("RSUs") granted by PureTech on 15 June 2018
to certain directors and other persons discharging managerial
responsibilities ("PDMRs") pursuant to its Performance Share Plan
("PSP") vested in full on 15 February 2021 following satisfaction
of all of the performance conditions measured over the three year
period to 31 December 2020.
Bharatt Chowrira received vested ordinary shares (after
deduction of shares for payroll taxes). The Company's Remuneration
Committee exercised its discretion in accordance with the Company's
remuneration policy and the rules of the PSP and cash settled the
vested ordinary shares of Daphne Zohar, Joseph Bolen, and Eric
Elenko in full, resulting in those PDMRs receiving cash (after
deduction of payroll taxes) instead of ordinary shares in the
Company.
The market price per ordinary share in the Company used to
calculate the amount payable to the PDMRs and the amount of shares
to be issued to PDMRs was 387 pence, being the average closing
price of the Company's shares over the three trading day period
immediately preceding the settlement, and the exchange rate used to
calculate the cash payment and amount of share settlement was
GBP1:$1.417133.
The Company's total issued ordinary share capital is 286,431,217
shares after the share issuance to Bharatt Chowrira and other share
issuances to non PDMR employees.
PDMR Notification
The information contained in the below notification is disclosed
in accordance with Article 19 of the EU Market Abuse
Regulation.
1 Details of the person discharging managerial responsibilities/person
closely associated
a) Name Bharatt Chowrira
------------------------------------------- --------------------------------------------------------------------
2 Reason for the notification
-----------------------------------------------------------------------------------------------------------------
a) Position/status Bharatt Chowrira - President and Chief of Business and Strategy
------------------------------------------- --------------------------------------------------------------------
b) Initial notification/Amendment Initial Notification
------------------------------------------- --------------------------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------------------------------------------------
a) Name PureTech Health plc
------------------------------------------- --------------------------------------------------------------------
b) LEI 213800LVPDNO2Z9T9I39
------------------------------------------- --------------------------------------------------------------------
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 Ordinary Shares of PureTech Health
the financial plc
instrument, type ISIN GB00BY2Z0H74
of instrument
------------------------------------------- --------------------------------------------------------------------
b) Nature of the Issuance of ordinary shares in net settlement of certain vested
transaction RSUs under the PureTech Health
Performance Share Plan, after retentions in respect of payroll
taxes.
------------------------------------------- --------------------------------------------------------------------
c) Price(s) and Recipient Price Amount
volume(s) Bharatt Chowrira 0.01 GBP 114,724
--------- --------
------------------------------------------- --------------------------------------------------------------------
d) Aggregated information- Aggregated volume Price Aggregate Volume
n/a n/a
- Price -----------------
------------------------------------------- --------------------------------------------------------------------
e) Date of the transaction 1 June 2021
------------------------------------------- --------------------------------------------------------------------
f) Place of the London Stock Exchange (XLON)
transaction
------------------------------------------- --------------------------------------------------------------------
1 Details of the person discharging managerial responsibilities/person
closely associated
a) Name Daphne Zohar
Joseph Bolen
Eric Elenko
------------------------------------------- --------------------------------------------------------------------
2 Reason for the notification
-----------------------------------------------------------------------------------------------------------------
a) Position/status Daphne Zohar - Chief Executive Officer
Joseph Bolen - Chief Scientific Officer
Eric Elenko - Chief Innovation Officer
------------------------------------------- --------------------------------------------------------------------
b) Initial notification/Amendment Initial Notification
------------------------------------------- --------------------------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------------------------------------------------
a) Name PureTech Health plc
------------------------------------------- --------------------------------------------------------------------
b) LEI 213800LVPDNO2Z9T9I39
------------------------------------------- --------------------------------------------------------------------
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 Ordinary Shares of PureTech Health
the financial plc
instrument, type ISIN GB00BY2Z0H74
of instrument
------------------------------------------- --------------------------------------------------------------------
b) Nature of the Payment by PureTech Health plc in net settlement of a cash amount
transaction equivalent to the value
of Ordinary Shares on the vesting of certain RSUs under the
PureTech Health Performance Share
Plan, in each case after retentions in respect of payroll taxes
------------------------------------------- --------------------------------------------------------------------
c) Price(s) and Recipient Amount
volume(s) Daphne Zohar $3,393,143
-----------
Joseph Bolen $1,135,748
-----------
Eric Elenko $1,135,748
-----------
------------------------------------------- --------------------------------------------------------------------
d) Aggregated information- Aggregated volume Price Aggregate Volume
n/a n/a
- Price -----------------
------------------------------------------- --------------------------------------------------------------------
e) Date of the transaction 1 June 2021
------------------------------------------- --------------------------------------------------------------------
f) Place of the Outside a trading venue
transaction
------------------------------------------- --------------------------------------------------------------------
About PureTech Health
PureTech is a clinical-stage biotherapeutics company dedicated
to discovering, developing and commercializing highly
differentiated medicines for devastating diseases, including
inflammatory, fibrotic and immunological conditions, intractable
cancers, lymphatic and gastrointestinal diseases and neurological
and neuropsychological disorders, among others. The Company has
created a broad and deep pipeline through the expertise of its
experienced research and development team and its extensive network
of scientists, clinicians and industry leaders. This pipeline,
which is being advanced both internally and through PureTech's
Founded Entities, is comprised of 26 therapeutics and therapeutic
candidates, including two that have received FDA clearance and
European marketing authorization, as of the date of PureTech's most
recently filed Annual Report on Form 20-F. All of the underlying
programs and platforms that resulted in this pipeline of
therapeutic candidates were initially identified or discovered and
then advanced by the PureTech team through key validation points
based on the Company's unique insights into the biology of the
brain, immune and gut, or BIG, systems and the interface between
those systems, referred to as the BIG Axis.
For more information, visit www.puretechhealth.com or connect
with us on Twitter @puretechh.
Contact:
Investors
Allison Mead Talbot
+1 617 651 3156
amt@puretechhealth.com
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