RE: David Smith5 May 2023 15:21
Hi Tyke68,
The vesting date is the earliest date an option can be exercised.
DS was granted an option to 6,017,500 shares on 1/11/18, with 1/3 (2,005,823) vesting on 1/8/19.
He then exercised 1m @ 2.6p on 13/1/20 which cost him £26k. These can be sold whenever he wants.
The remaining 2/3 vest over the next 36 months, pro rata at the end of EACH month (ending 1/8/22).
He still has not exercised 5,017,500 of those options.
23p relates to the intra day high. I am sure a lot of people regretted not selling and buying back. All depends on your timeframe I guess. In relatoin to DS, these options lapse (expire) on 1/8/28.
I hope that helps.
Regards
Phil
On the 1st November 2018, David Smith was granted options over 6,017,500 shares at 2.6p. 1/3 of those shares vested on 1st November 2019, with the remainder at 1/36 on the last day of each month thereafter.
David exercised 1m shares at 2.6p on 13th January 2020 when the share price was circa 4p. Since then, the share price rose to circa 23p in November 2020. However, David does not seem to have exercise any further options.
So with over 5m shares still to be exercised, David is clearly very confident that the share price is going to rise above 23p in the remaining years, before they lapse on 1st August 2028.