REDDE NORTHGATE PLC recently announced the exercise and sale of options over ordinary shares by its executive directors. The options, which were awarded under the 2019 Executive Performance Share Plan, vested on August 9, 2024. On August 14, 2024, the executive directors exercised and sold a portion of the shares to cover personal taxation obligations arising from the exercise. The remaining shares were retained, subject to a two-year holding period.
The ordinary shares required to satisfy the exercise of the Awards were transferred from the Company's Employee Benefit Trust. Martin Ward, the Chief Executive Officer, exercised 206,853 shares and sold 97,563, retaining 109,290 shares. Philip Vincent, another executive director, exercised 133,601 shares, sold 63,014, and retained 70,587 shares.
The transactions were made under the ZIGUP plc 2019 Executive Performance Share Plan. The shares were acquired at nil cost, and the sale price was £4.00 per share. The transactions took place outside of a Trading Venue, with the balance of shares being transferred to nominee accounts with no change in beneficial ownership.
The notification of these transactions was made in accordance with Article 19 of the Market Abuse Regulation. The full details of the transactions and the individuals involved were provided in the Company's notification.
This announcement provides insight into the exercise and sale of options over ordinary shares by REDDE NORTHGATE PLC's executive directors, shedding light on the specific details of the transactions and the individuals involved.