Silence Therapeutics PLC Grant of share options and restricted stock units (7816D)
February 02 2018 - 6:38AM
UK Regulatory
TIDMSLN
RNS Number : 7816D
Silence Therapeutics PLC
02 February 2018
Grant of share options and restricted stock units
2(nd) February 2018
Silence Therapeutics plc, AIM:SLN ("Silence" or "the Company") a
leader in the discovery, delivery, and development of novel RNA
therapeutics for the treatment of serious diseases with unmet
medical need, announces that it has granted nominal cost share
options ("Options") to certain of its executive directors to
acquire a total of 169,921 ordinary shares of 5.0p each in the
capital of the Company ("Ordinary Shares") under the Silence
Therapeutics plc 2018 Long Term Incentive Plan. The Company has
also made a grant of nominal cost restricted stock units ('RSUs')
to the Non-Executive Directors under the Silence Therapeutics plc
2018 Non-Employee Long Term Incentive Plan. These two new plans
were approved by the Board of Directors on 2(nd) February 2018.
Details of both grants are summarised below
Grant of Share Options:
Director Position Options Awarded Total Options
Held
Ali Mortazavi CEO 88,620 4,058,920
---------- ---------------- --------------
David Ellam CFO 81,301 593,676
---------- ---------------- --------------
These nominal cost options will vest in full on 1(st) February
2021. The Options are subject to achievement of certain performance
conditions within the three years from grant, based on 34% vesting
for a share price of GBP2.70, a further 33% vesting for a share
price of GBP3.00, and the final 33% for a share price of GBP3.40.
The share price must be maintained for a period of 30 continuous
days. The Options are exercisable over the period of 7 years from
the date of vesting. Claw-back and malus provisions apply. There is
a one-year holding period.
Nominal cost options over 458,766 Ordinary Shares were granted
to other employees of the Company. These options have a hurdle
price of 198.0 pence per share. They will vest in full on 1(st)
February 2021 subject to the average closing price of the prior 30
continuous days being above 198.0 pence per share.
Award of Restricted Stock Units
Director Position Options Awarded Total Options
Held
Non-Executive
Annalisa Jenkins Chair 1,626 1,626
--------------- ---------------- --------------
Non-Executive
Alistair Gray Director 1,626 1,626
--------------- ---------------- --------------
Non-Executive
Stephen Parker Director 1,626 1,626
--------------- ---------------- --------------
Non-Executive
Andy Richards Director 1,626 1,626
--------------- ---------------- --------------
Each RSU entitles the holder to subscribe for an Ordinary Share
at a subscription price of 5 pence per Ordinary Share. The RSUs
have a vesting period of one year and no performance conditions.
The RSUs granted will vest on 1(st) February 2019.
The notifications set out below are provided in accordance with
the requirements of the EU Market Abuse Regulation.
1 Details of the person discharging managerial responsibilities/person
closely associated
a) Name Ali Mortazavi
------------------------------- -----------------------------------------------
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) Name Silence Therapeutics Plc
------------------------------- -----------------------------------------------
b) LEI 213800SSURRJBX85SQ91
------------------------------- -----------------------------------------------
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 Options over Ordinary Shares
instrument, type of instrument
ISIN for Silence Therapeutics plc Ordinary
Identification code Shares GB00B9GTXM62
------------------------------- -----------------------------------------------
b) Nature of the transaction Grant of Options under the Silence Therapeutics
Plc 2018 Long Term Incentive Plan
------------------------------- -----------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
5 pence 88,620
------------------------------- -----------------------------------------------
d) Aggregated information
- Aggregated volume 88,620 Options
- Price 5 pence
------------------------------- -----------------------------------------------
e) Date of the transaction 2 February, 2018
------------------------------- -----------------------------------------------
f) Place of the transaction Outside a trading venue
------------------------------- -----------------------------------------------
1 Details of the person discharging managerial responsibilities/person
closely associated
a) Name David Ellam
------------------------------- -----------------------------------------------
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) Name Silence Therapeutics plc
------------------------------- -----------------------------------------------
b) LEI 213800SSURRJBX85SQ91
------------------------------- -----------------------------------------------
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 Options over Ordinary Shares
instrument, type of instrument
Identification code ISIN for Silence Therapeutics plc Ordinary
Shares GB00B9GTXM62
------------------------------- -----------------------------------------------
b) Nature of the transaction Grant of Options under the Silence Therapeutics
Plc 2018 Long Term Incentive Plan
------------------------------- -----------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
5 pence 81,301
------------------------------- -----------------------------------------------
d) Aggregated information
- Aggregated volume 81,301 Options
- Price 5 pence
------------------------------- -----------------------------------------------
e) Date of the transaction 2 February 2018
------------------------------- -----------------------------------------------
f) Place of the transaction Outside a trading venue
------------------------------- -----------------------------------------------
1 Details of the person discharging managerial responsibilities/person
closely associated
a) Name Annalisa Jenkins
------------------------------- -------------------------------------------
2 Reason for the notification
----------------------------------------------------------------------------
a) Position/status Non-Executive Chair
------------------------------- -------------------------------------------
b) Initial notification/Amendment Initial notification
------------------------------- -------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
----------------------------------------------------------------------------
a) Name Silence Therapeutics Plc
------------------------------- -------------------------------------------
b) LEI 213800SSURRJBX85SQ91
--------------------------------- -------------------------------------------
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 Ordinary shares of 5 pence each
instrument, type of instrument
Identification code ISIN for Silence Therapeutics plc Ordinary
Shares GB00B9GTXM62
--------------------------------- -------------------------------------------
b) Nature of the transaction Grant of restricted stock units under the
Silence Therapeutics plc 2018 Non-employee
Long Term Incentive Plan
--------------------------------- -------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
5 pence 1,626
--------------------------------- -------------------------------------------
d) Aggregated information
- Aggregated volume 1,626 restricted stock units
- Price 5 pence
--------------------------------- -------------------------------------------
e) Date of the transaction 2 February, 2018
--------------------------------- -------------------------------------------
f) Place of the transaction Outside a trading venue
--------------------------------- -------------------------------------------
1 Details of the person discharging managerial responsibilities/person
closely associated
a) Name Alistair Gray
------------------------------- -------------------------------------------
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) Name Silence Therapeutics Plc
------------------------------- -------------------------------------------
b) LEI 213800SSURRJBX85SQ91
--------------------------------- -------------------------------------------
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 Ordinary shares of 5 pence each
instrument, type of instrument
ISIN for Silence Therapeutics plc Ordinary
Identification code Shares GB00B9GTXM62
--------------------------------- -------------------------------------------
b) Nature of the transaction Grant of restricted stock units under the
Silence Therapeutics plc 2018 Non-employee
Long Term Incentive Plan
--------------------------------- -------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
5 pence 1,626
--------------------------------- -------------------------------------------
d) Aggregated information
- Aggregated volume 1,626 restricted stock units
- Price 5 pence
--------------------------------- -------------------------------------------
e) Date of the transaction 2 February, 2018
--------------------------------- -------------------------------------------
f) Place of the transaction Outside a trading venue
--------------------------------- -------------------------------------------
1 Details of the person discharging managerial responsibilities/person
closely associated
a) Name Stephen Parker
------------------------------- -------------------------------------
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) Name Silence Therapeutics Plc
------------------------------- -------------------------------------
b) LEI 213800SSURRJBX85SQ91
--------------------------------- -------------------------------------
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 Ordinary shares of 5 pence each
instrument, type of instrument
ISIN for Silence Therapeutics plc
Identification code Ordinary Shares GB00B9GTXM62
--------------------------------- -------------------------------------
b) Nature of the transaction Grant of restricted stock units under
the Silence Therapeutics plc 2018
Non-employee Long Term Incentive
Plan
--------------------------------- -------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
5 pence 1,626
--------------------------------- -------------------------------------
d) Aggregated information
- Aggregated volume 1,626 restricted stock units
- Price 5 pence
--------------------------------- -------------------------------------
e) Date of the transaction 2 February, 2018
--------------------------------- -------------------------------------
f) Place of the transaction Outside a trading venue
--------------------------------- -------------------------------------
1 Details of the person discharging managerial responsibilities/person
closely associated
a) Name Andy Richards
------------------------------- -------------------------------------
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) Name Silence Therapeutics Plc
------------------------------- -------------------------------------
b) LEI 213800SSURRJBX85SQ91
--------------------------------- -------------------------------------
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 Ordinary shares of 5 pence each
instrument, type of instrument
ISIN for Silence Therapeutics plc
Identification code Ordinary Shares GB00B9GTXM62
--------------------------------- -------------------------------------
b) Nature of the transaction Grant of restricted stock units under
the Silence Therapeutics plc 2018
Non-employee Long Term Incentive
Plan
--------------------------------- -------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
5 pence 1,626
--------------------------------- -------------------------------------
d) Aggregated information
- Aggregated volume 1,626 restricted stock units
- Price 5 pence
--------------------------------- -------------------------------------
e) Date of the transaction 2 February, 2018
--------------------------------- -------------------------------------
f) Place of the transaction Outside a trading venue
--------------------------------- -------------------------------------
Enquiries:
Silence Therapeutics plc Tel: +44 (0)20 3457 6900
Ali Mortazavi, Chief Executive Officer
David Ellam, Chief Financial Officer
Peel Hunt LLP (Nominated Adviser and Tel: +44 (0)20 7418 8900
Broker)
James Steel/Oliver Jackson
Media Enquiries: Tel: +44 (0) 20 3714 1788
Optimum Strategic Communications
Mary Clark/ Eva Haas/Hollie Vile
silence@optimumcomms.com
Notes to Editors
About Silence Therapeutics plc
Silence Therapeutics develops a new generation of medicines by
harnessing the body's natural mechanism of RNA interference, or
RNAi, within its cells. Our proprietary technology can selectively
inhibit any gene in the genome, specifically silencing the
production of disease-causing proteins. Using our enabling delivery
systems, we have achieved an additional level of specificity by
delivering our therapeutic RNA molecules exclusively to target
cells. Silence's proprietary RNA chemistries and delivery systems
are designed to improve the stability of our molecules and enhance
effective delivery to target cells, providing a powerful modular
technology well suited to tackle life-threatening diseases.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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