Share Option Plan Awards
Updated : 07:06
9 July 2020
First Derivatives plc
("FD" or the "Group")
Share Option Plan awards
FD (AIM: FDP.L, Euronext Growth: FDP.I) announces that on 8 July 2020 Seamus Keating, CEO, was granted options over 250,000 ordinary shares of 0.5p each ("Ordinary shares") and Graham Ferguson, CFO, was granted options over 75,000 Ordinary shares under the Group's Share Option Plan.
In each case, the option exercise price is 2,595p and the options will vest after four years on the achievement of challenging total shareholder return (TSR) and earnings per share (EPS) growth targets. Both TSR and EPS targets are independent of each other and are weighted 50:50 for any award vesting.
For the TSR portion, 50% will vest for threshold performance, which is defined as 50% TSR over the four-year performance period. This translates to a CAGR of nearly 11%. Vesting then increases on a straight-line basis to full vesting for TSR of 100% (i.e., doubling of value over the four-year performance period, or a CAGR of nearly 19%).
For the EPS growth portion, 50% will vest for threshold performance, which is defined as 75% EPS growth over the four-year performance period, or a CAGR of 15%. Vesting will increase on a straight-line basis to full vesting for EPS growth of 100%.
The option grants are in line with the Group's remuneration policy and are subject to typical holding, malus and clawback provisions.
1. | Details of PDMR / person closely associated with them ("PCA") | |||||
a)
| Name
| Seamus Keating | ||||
2. | Reason for the notification | |||||
a) | Position / status | Chief Executive Officer
| ||||
b) | Initial notification / amendment | Initial Notification | ||||
3. | Details of the Issuer | |||||
a) | Name | First Derivatives plc | ||||
b) | LEI | 213800MKQAJ5R7WIU633 | ||||
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 | Ordinary Shares of £0.005 ISIN: GB0031477770 | ||||
b) | Nature of the transaction | Award of share options | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price | N/a - single transaction | ||||
e) | Date of the transaction | 8 July 2020 | ||||
f) | Place of the transaction | Outside a trading venue |
2. | Details of PDMR / person closely associated with them ("PCA") | |||||
a)
| Name
| Graham Ferguson | ||||
2. | Reason for the notification | |||||
a) | Position / status | Chief Financial Officer
| ||||
b) | Initial notification / amendment | Initial Notification | ||||
3. | Details of the Issuer | |||||
a) | Name | First Derivatives plc | ||||
b) | LEI | 213800MKQAJ5R7WIU633 | ||||
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 | Ordinary Shares of £0.005 ISIN: GB0031477770 | ||||
b) | Nature of the transaction | Award of share options | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price | N/a - single transaction | ||||
e) | Date of the transaction | 8 July 2020 | ||||
f) | Place of the transaction | Outside a trading venue |
Enquiries
For further information please contact:
First Derivatives plc Seamus Keating, Chief Executive Officer Graham Ferguson, Chief Financial Officer Ian Mitchell, Head of Investor Relations | +44(0)28 3025 2242 |
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|
Investec Bank plc (Nominated Adviser and Broker) Andrew Pinder Carlton Nelson Sebastian Lawrence | +44 (0) 20 7597 5970 |
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Goodbody (Euronext Growth Adviser and Broker) David Kearney Don Harrington Finbarr Griffin | +353 (0)1 667 0420 |
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FTI Consulting Matt Dixon Dwight Burden Darius Alexander
| +44 (0) 20 3727 1000 |
About FD
FD is a global technology provider with more than 20 years of experience working with some of the world's largest finance, technology, automotive, manufacturing and energy institutions. The Group's Kx technology, incorporating the kdb+ time-series database, is a leader in high-performance, in-memory computing, streaming analytics and operational intelligence. Kx delivers the best possible performance and flexibility for high-volume, data-intensive analytics and applications across multiple industries. FD operates from 15 offices across Europe, North America and Asia Pacific, including its headquarters in Newry, and employs more than 2,400 people worldwide.
For further information, please visit www.firstderivatives.com and www.kx.com
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