On the Beach Group PLC has announced that on October 3, 2023, awards over ordinary shares of 1 pence each were made under the company's Long Term Incentive Plan (LTIP). The awards, known as FY24 Awards, were made for nil consideration and are nil-cost options established in accordance with the LTIP rules. There are no performance targets applicable to the awards, but vesting is subject to continued employment. The Remuneration Committee has the discretion to adjust the vesting level of awards based on factors such as shareholder experience and windfall gains.
The awards were made to several Persons Discharging Managerial Responsibilities (PDMRs) and persons closely associated with them. The PDMRs and their respective positions and the number of shares over which awards were made are as follows:
- Shaun Morton, Chief Executive Officer: 409,441 shares
- Jon Wormald, Chief Financial Officer: 255,298 shares
- Zoe Harris, Chief Marketing Officer: 317,919 shares
- Adam Hansen, Chief Strategy Officer: 222,543 shares
- Bill Allen, Chief Supply Officer: 215,110 shares
- Kasia Michalska, Chief Technology & Product Officer: 260,115 shares
- Andy Freeth, CEO, Classic Collection & Classic Package Holidays: 240,847 shares
- Jennie Cronin, Director of People: 161,849 shares
- Kirsteen Vickerstaff, General Counsel and Company Secretary: 172,473 shares
The transactions were made under the On the Beach Group plc LTIP and the price for each transaction was nil. The date of the transaction was October 3, 2023.