Last checked at 31 Aug 2023 16:14
Hikma Pharmaceuticals PLC - LTIP Award
LONDON, 31 August 2023: Hikma Pharmaceuticals PLC (LSE: HIK) (NasdaqDubai: HIK) (LEI: 549300BNS685UXH4JI75) announces that the Remuneration Committee made the following conditional award under the Hikma Pharmaceuticals PLC 2023 Long Term Incentive Plan (the "LTIP") to Riad Mishlawi, a Person Discharging Managerial Responsibility ("PDMR") of the Company. No consideration was paid for the grant of the award.
The award under the LTIP was made on 31 August 2023 based on a price of £21 per Ordinary Share (being the average mid-market Ordinary Share price for the for the 5-working day period prior to 31 August 2023, in accordance with the LTIP rules) (the "LTIP Award"). This LTIP Award reflects Riad Mishlawi's promotion to Chief Executive Officer of Hikma Pharmaceuticals PLC, effective 1 September 2023 and has been made on a pro-rata basis, taking account of his LTIP Award granted on 30 May 2023. The vesting of the LTIP Award is subject to the continued employment of the PDMR, malus and clawback provisions and the satisfaction of performance conditions set by the Remuneration Committee of the Company. The LTIP Award will normally vest on the later of the third anniversary of the date of grant and the determination of the performance conditions. The LTIP Award is then subject to an additional two-year holding period.
This notification is made under Article 19(1) of the EU Market Abuse Regulation 596/2014 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"). The information set out below is provided in accordance with the requirements of Article 19(3) of MAR.
Notification and public disclosure of transactions by persons discharging managerial responsibilities
1 | Details of the person discharging managerial responsibilities / person closely associated | ||
a) | Name | Riad Mishlawi | |
2 | Reason for the notification | ||
a) | Position/status | PDMR | |
b) | Initial notification /Amendment | Initial notification | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a) | Name | Hikma Pharmaceuticals PLC | |
b) | LEI | 549300BNS685UXH4JI75 | |
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 and identification code | Description: Ordinary shares of 10 pence each (Shares) ID Code: GB00B0LCW083 | |
b) | Nature of the transaction
| Grant of award under the LTIP. | |
c) | Price(s) and volume(s) | Price(s) | Volume(s) |
Nil | LTIP Award: 12,623 Shares | ||
d) | Aggregated information | Price(s): nil Volume(s): 12,263 | |
e) | Date of the transaction | 31 August 2023 | |
f) | Place of the transaction | Outside a trading venue | |
Helen Middlemist
Deputy Company Secretary+44 (0) 20 7399 2760