Moonpig Group Plc recently announced the conditional awards of nil-cost options under the Moonpig Long Term Incentive Plan (LTIP) and the Moonpig Deferred Share Bonus Plan (DSBP) to two of its directors, Nickyl Raithatha and Andy MacKinnon. Raithatha was awarded 967,268 shares under LTIP and 99,942 shares under DSBP, while MacKinnon received 625,389 shares under LTIP and 64,618 shares under DSBP. The LTIP awards were calculated using a price of 1.6058 per share, and the DSBP awards were calculated using a price of 1.8667 per share.
The LTIP awards are subject to Total Shareholder Return and Adjusted EPS performance conditions, with a policy limit of 250% of salary. The DSBP awards relate to the deferral of 33% of the FY24 bonus into options over shares, with a future vesting date conditional upon continued employment. Both awards will vest three years after grant and are subject to continued employment. Vested shares from the LTIP awards not sold to pay income tax and national insurance liabilities will be subject to a two-year post-vesting holding period.
The awards were made in accordance with the company's remuneration policy. The transactions were notified in accordance with the requirements of Article 19 of the EU Market Abuse Regulation. The details of the transactions, including the names of the directors, the type of instruments, the nature of the transactions, and the date and place of the transactions, were provided in the notification.
In summary, Moonpig Group Plc's recent announcement outlines the conditional awards of nil-cost options under the LTIP and DSBP to two of its directors, in accordance with the company's remuneration policy and regulatory requirements.