Allergy Therapeutics PLC has recently introduced a new long-term incentive plan (LTIP) aimed at providing share option awards to key members of its management team, including certain persons discharging managerial responsibilities (PDMRs). The plan is designed to encourage long-term value creation for the company's shareholders and to align the interests of the stakeholders with the management team. The vesting of share options is conditional on the satisfaction of performance criteria over a three-year period, with 70% of the award subject to EBITDA performance and 30% subject to regulatory performance targets.

The LTIP includes share option grants to Manuel Llobet, Chief Executive Officer, and Shaun Furlong, Chief Financial Officer, with the maximum number of ordinary shares that could be issued to each PDMR upon full satisfaction of the performance conditions specified. The Remuneration Committee will periodically review the performance conditions to ensure their appropriateness and retain discretion to amend the conditions where necessary, considering the overall company performance and stakeholder experience.

In addition to the LTIP announcement, Allergy Therapeutics PLC also disclosed a change in the name of its Nominated Adviser and Broker to Panmure Liberum Limited, following the completion of a corporate merger. The company provided contact information for further inquiries related to these developments.

Allergy Therapeutics PLC is an international commercial biotechnology company specializing in the treatment and diagnosis of allergic disorders, including aluminium-free immunotherapy vaccines. The group sells proprietary and third-party products in major European countries and through distribution agreements in additional countries. For more information, interested parties can visit the company's website.