Chemring Group PLC has announced that two awards of 79,665 ordinary 1p shares each have been granted to James Mortensen, a director of the company and the new Chief Financial Officer, as part of the buy-out arrangements agreed with Mr. Mortensen in relation to incentives with his previous employer that he forfeited upon joining Chemring. The first award will vest based on the performance conditions associated with the December 2021 awards made under the Chemring Group Performance Share Plan, subject to the company's performance until October 31, 2024. The second award will vest based on the performance conditions associated with the December 2022 awards made under the same plan, subject to the company's performance until October 31, 2025. The shares will be subject to a two-year holding period post-vesting. The details of the transaction have been disclosed in accordance with the regulatory requirements.