RE: Tecx29 Nov 2024 16:23
All explained in the RNS 15/10
In June 2021, the Company granted a one-off legacy conditional performance-related award under the Oxford Nanopore Technologies Limited Long-Term Incentive Plan 2021 approved by shareholders prior to the Company's initial public offering ("Founder LTIP").
As previously disclosed, a proportion of this award vested in October 2022 subject to a post-vesting holding period ending on the second anniversary of the vesting date. On 14 October 2024, 4,231,034 ordinary shares of £0.0001 each ("Ordinary Shares") were released under the Founder LTIP to Gordon Sanghera, a Director and a Person Discharging Managerial Responsibilities.
On 15 October 2024, Gordon Sanghera then sold sufficient Ordinary Shares to meet his tax liabilities in respect of the release of his award, with the balance of Ordinary Shares retained.