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1 Nov 2021 10:08
Long Term Incentive Plan Option Grant
London, UK - 01 November 2021: Oxford Biomedica plc ("Oxford Biomedica" or the "Company") (LSE:OXB), a leading gene and cell therapy Group announces that on 01 November 2021 nil-cost share options over shares of 50 pence each in the Company were granted to David Backer, who has joined the Senior Executive Team as Chief Commercial Officer, under the Oxford Biomedica 2015 Long Term Incentive Plan ("LTIP").
Name of individual | Title | Number of shares subject LTIP grant | Total shares over which options are held | Percentage of issued share capital under option |
David Backer | Chief Commercial Officer | 16,934 | 16,934 | 0.02% |
The LTIP awards are subject to a three year performance period and become exercisable from the third anniversary of the grant date, subject to the satisfaction of a performance condition.
As set out in the 2020 Directors' Remuneration Report, the performance condition is based on TSR (40% of the award, assessed over the three years from grant); revenue growth (40% of the award, assessed over financial years 2021, 2022 and 2023) and strategic milestones (20% of the award). Details of the measures are included in the 2020 Directors' Remuneration Report, other than as regards the strategic milestones, which are commercially sensitive and will be disclosed in due course.
The Notification of Dealing Forms set out below are provided in accordance with the requirements of the EU Market Abuse Regulation.
Notification of Dealing Form
1. | Details of the Person Discharging Managerial Responsibility ("PDMR")/person closely associated with them ("PCA") | |||||
a) | Name | David Backer | ||||
2. | Reason for the notification | |||||
a) | Position/status | Chief Commercial Officer
| ||||
b) | Initial notification/ amendment | Initial Notification | ||||
3. | Details of the Issuer | |||||
a) | Name | Oxford Biomedica plc | ||||
b) | LEI code | 213800S1GVQNXQ15K851 | ||||
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
Identification code | Ordinary Shares of 50 pence each
ISIN: GB00BDFBVT43 | ||||
b) | Nature of the transaction | Grant of awards over Ordinary Shares under the Company's Long Term Incentive Plan Plan. No consideration was paid for the grant of awards. | ||||
c) | Price(s) and volumes(s) | LTIP Award
| ||||
d) | Aggregated information - Aggregate volume
- Price
|
Awards granted over 16,934 shares in total
N/A
| ||||
e) | Date of the transaction | 11-01-2021 | ||||
f) | Place of the transaction | Outside of trading venue | ||||
-Ends-
For further information, please contact: |
|
Oxford Biomedica plc: Natalie Walter, Company Secretary |
Tel: +44 (0)1865 783 000 |
About Oxford Biomedica
Oxford Biomedica (LSE:OXB) is a leading, fully integrated, gene and cell therapy group focused on developing life changing treatments for serious diseases. Oxford Biomedica and its subsidiaries (the "Group") have built a sector leading lentiviral vector delivery platform (LentiVector®), which the Group leverages to develop in vivo and ex vivo products both in-house and with partners. The Group has created a valuable proprietary portfolio of gene and cell therapy product candidates in the areas of oncology, ophthalmology, CNS disorders, liver diseases and respiratory disease. The Group has also entered into a number of partnerships, including with Novartis, Bristol Myers Squibb, Sio Gene Therapies, Orchard Therapeutics, Santen, Beam Therapeutics and Boehringer Ingelheim, through which it has long-term economic interests in other potential gene and cell therapy products. Additionally, the Group has signed a three-year master supply and development agreement with AstraZeneca for large-scale manufacturing of the adenoviral based COVID-19 vaccine candidate, AZD1222. Oxford Biomedica is based across several locations in Oxfordshire, UK and employs more than 740 people. Further information is available at www.oxb.com
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