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19 Jun 2014 07:00
NOTIFICATION OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES
Oxford BioMedica plc
19 June 2014
Deferred Bonus Plan awards
Oxford BioMedica plc ("Oxford BioMedica" or the "Company") announces the grant of awards to its executive directors under the Oxford BioMedica 2013 Deferred Bonus Plan (the "DBP") on 18 June 2014.
As referred to in the Company's Directors' Remuneration Report for the year ended 31 December 2013, approved by shareholders at the Company's AGM on 3 June 2014, the Remuneration Committee changed the structure of the executive directors' annual bonus arrangements to provide that one half of any bonus payment would be delivered via deferred shares under the DBP in order to align the executive directors incentive packages with shareholders' interests. The awards granted are the deferred share elements of the executive directors' bonuses for the year ended 31 December 2013. In accordance with the rules of the DBP, the number of shares subject to each award has been determined by reference to the average closing price of a share during December 2013.
Director | Title | Number of shares subject to DBP award |
John Dawson | Chief Executive Officer | 2,186,308 |
Tim Watts | Chief Financial Officer | 1,325,035 |
Peter Nolan | Senior Vice President, Commercial Development | 1,149,910 |
Each award has been granted in the form of a nil-cost option and will become exercisable as to one third of the shares subject to it on each of the first, second and third anniversaries of the grant date.
Shares to satisfy awards will be acquired in the market by the trustee of the Oxford BioMedica Employee Benefit Trust, and the Company will enter into arrangements with the trustee to enable it to acquire the necessary shares to be held until they are required to satisfy the awards.
This notification is made pursuant to Disclosure and Transparency Rule 3.1.4.
Tim WattsCompany SecretaryOxford BioMedica plc
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