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29 Apr 2014 09:41
TCLARKE PLC
EQUITY INCENTIVE PLAN - CONDITIONAL GRANT OF SHARES
On 29th April 2014, directors of the Company were granted conditional share awards over ordinary shares of 10p each in the capital of the Company ('shares') under the TClarke plc Equity Incentive Plan ('the Plan').
Details of the directors and the number of conditional share awards granted to them under the Plan are as follows:
Director | Number of conditional shares awarded |
Mark Lawrence | 85,000 |
Mike Crowder | 85,000 |
Martin Walton | 85,000 |
No consideration was paid for the grant of the conditional share awards. The conditional share awards will normally vest on 29th April 2017, being the third anniversary of the date of grant, subject to continued employment with the Company and satisfaction of the earnings per share performance condition as set out below.
Annual growth in EPS above RPI | Proportion of award vesting |
Less than 3% | Nil |
3% | 25% |
Between 3% and 10% | Between 25% and 100% on a straight line basis |
Above 10% | 100% |
The following conditional share awards granted on 16 June 2011 ('the 2011 awards') have lapsed as the minimum performance conditions were not met:
Director | Number of conditional shares lapsed |
Mark Lawrence | 85,000 |
Mike Crowder | 85,000 |
Martin Walton | 85,000 |
Following the grant of the conditional share awards and the lapse of the 2011 awards these directors hold the following interests in the issued share capital of the Company.
Director | Beneficial interest in the shares of the Company | % of the issued share capital of the Company | Total number of conditional share awards held | Total number of options |
Mark Lawrence | 20,000 | 0.05% | 315,000 | 139,273 |
Mike Crowder | 12,000 | 0.03% | 315,000 | 139,273 |
Martin Walton | 10,000 | 0.02% | 315,000 | 139,273 |
For further information contact:
TClarke plc Mark Lawrence, Chief Executive Martin Walton, Finance Director Tel: 020 7997 7400 www.tclarke.co.uk | N + 1 Singer Sandy Fraser Tel: 020 7496 3000 www.nplus1singer.com |
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