Last checked at 29 Oct 2019 07:00
29 October 2019
Aptitude Software Group plc (the "Company")
Grant of awards under the Company's Performance Share Plan 2016 ("PSP")
On 28 October 2019 Aptitude Software Group plc granted awards in the form of options over ordinary shares in the Company ("Ordinary Shares") under the PSP to the following Directors and PDMRs. Each option has an exercise price per Ordinary Share equal to the nominal value of an Ordinary Share.
Director/ PDMR | Role | Number of Ordinary Shares over which award granted |
JEREMY SUDDARDS | Executive Director/PDMR (Chief Executive Officer Designate) | 85,179 |
PHILIP WOOD | Executive Director/PDMR (Deputy Chief Executive Officer and Chief Financial Officer) | 62,606 |
CHRIS WADE | PDMR (Chief Product Officer) | 23,918 |
CLARE GROOM | PDMR (Chief People Officer) | 14,211 |
ALEX CURRAN | PDMR (Vice President, North America) | 19,909 |
Each award has been granted subject to performance conditions based on targets relating to growth in Earnings Per Share over a performance period of three financial years starting with 2019 (as regards 50% of each award) and the Company's Total Shareholder Return ("TSR") over the same performance period relative to the TSRs of the constituents of the FTSE SmallCap Index (excluding investment trusts) (as regards 50% of each award), as set out below.
EPS element
Annual compound growth in EPS | Percentage of the EPS element that vests |
19% | 25% |
Greater than 19% but less than 23% | Determined on a straight-line basis between 25% and 100% |
23% or greater than 23% | 100% |
TSR element
Rank of the Company's TSR against the Comparator Group | Percentage of the TSR element that vests |
Median | 25% |
Between upper quartile and median | Determined on a straight-line basis between 25% and 100% |
Upper quartile or above | 100% |
Each award is subject to a further performance condition that the extent of vesting reflects the overall financial performance of the Company over the performance period.
The awards granted to Jeremy Suddards and Philip Wood will, ordinarily, vest on the second anniversary of the date on which the Company's Remuneration Committee determines the extent to which the performance conditions have been satisfied. The other awards will, ordinarily, vest on the date on which the Company's Remuneration Committee determines the extent to which the performance conditions have been satisfied.
Notification and public disclosure of transactions by PDMRs and persons closely associated with them
1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name |
1. Jeremy Suddards 2. Philip Wood 3. Chris Wade 4. Clare Groom 5. Alex Curran | ||||
2. | Reason for the notification | |||||
a) | Position/status | 1. Executive Director/PDMR (Chief Executive Officer Designate) 2. Executive Director/PDMR (Deputy Chief Executive Officer and Chief Financial Officer) 3. PDMR (Chief Product Officer) 4. PDMR (Chief People Officer) 5. PDMR (Vice President, North America) | ||||
b) | Initial notification/Amendment | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Aptitude Software Group plc | ||||
b) | LEI | 2138009VHA1WI2VKMA28 | ||||
4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||
a) | Description of the financial instrument, type of instrument | Options over Ordinary Shares of 7 1/3 pence each | ||||
b) | Identification code | ISIN: GB00BJV2F804 | ||||
c) | Nature of the transaction | Grant of options under Performance Share Plan 2016 | ||||
d) | Price(s) and volume(s)
|
| ||||
e) | Aggregated information - Aggregate volume - Price
| n/a | ||||
f) | Date of the transaction | 28 October 2019 | ||||
g) | Place of the transaction | Outside a trading venue | ||||
Name of authorised official of issuer responsible for making notification: | Georgina Sharley, Company Secretary, Aptitude Software Group plc | |||||
Name of contact: GEORGINA SHARLEY, COMPANY SECRETARY
Address of contact: APTITUDE SOFTWARE GROUP PLC, OLD CHANGE HOUSE, 128 QUEEN VICTORIA STREET, LONDON, EC4V 4BJ
Telephone number of contact: 020-3880-7100
www.aptitudesoftware.com