TUI AG: Allocation of phantom shares under TUI AG's Long Term Incentive Plans (1238621)
October 06 2021 - 11:25AM
UK Regulatory
TUI AG (TUI) TUI AG: Allocation of phantom shares under TUI AG's
Long Term Incentive Plans 06-Oct-2021 / 17:24 CET/CEST
Dissemination of a Regulatory Announcement, transmitted by EQS
Group. The issuer is solely responsible for the content of this
announcement.
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TUI AG
Regulatory Announcements
Allocation of phantom shares under TUI AG's Long Term Incentive
Plans
TUI AG (the "Company") announces that phantom shares ("Phantom
Shares") were allocated to the members of the Executive Board set
out in the table below under TUI AG's Long Term Incentive Plan.
The Phantom Shares were automatically allocated in accordance
with the terms of the individual's respective service agreements
and the vesting and payment of the Phantom Shares is conditional on
(i) an EPS performance target, determined over a 4-year performance
period; (ii) the share price at the date of vesting; and (iii) the
remuneration restrictions resulting from the second framework
agreement on the granting of stabilization measures ("Framework
Agreement II") concluded by TUI AG with the Economic Stabilization
Fund ("Fund") on 4 January 2021. Upon expiry of the 4-year
performance period, the Supervisory Board will determine whether
the conditions have been satisfied and a possible claim to a
payment in respect of the Phantom Shares arises.
The Framework Agreement II stipulates that the Executive Board
members (including any Group remuneration in the event of dual
employment, including at a Group company that is not a material
Group company) may not be granted (and thus may not be constituted)
bonuses, other variable or comparable remuneration components as
long as the Company makes use of the overall stabilization measures
of the Fund.
The Phantom Shares were allocated on 1 October 2021 at a base
price of EUR 3.62 per share. This share price equals the average
XETRA price of TUI AG shares over a period of 20 trading days
before the date of allocation.
Name of the PDMR Corporate Body Number of allocated Phantom Shares
Friedrich Joussen Executive Board 505,525
David Burling Executive Board 254,144
Sebastian Ebel Executive Board 254,144
Peter Krueger Executive Board 211,326
Sybille Reiß Executive Board 211,326
Frank Rosenberger Executive Board 211,326
Dr Elke Eller1) Executive Board 9,346 1. Dr Elke Eller's appointment as a member of the Executive Board and as director representing the employeesof TUI AG ended with effect as of midnight on 30 June 2021, while her service agreement continued until its regulartermination date, which is 14 October 2021.
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ISIN: DE000TUAG000
Category Code: DSH
TIDM: TUI
LEI Code: 529900SL2WSPV293B552
OAM Categories: 3.1. Additional regulated information required to be disclosed under the laws of a Member State
Sequence No.: 123754
EQS News ID: 1238621
End of Announcement EQS News Service
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October 06, 2021 11:25 ET (15:25 GMT)
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