Last checked at 30 Jan 2014 16:50
Somero Enterprises, Inc ® (the "Company") | ||
30 January 2014 | ||
DIRECTOR SHAREHOLDING | ||
On 29 January 2014, the Board of the Company approved awards to the following executive Directors under the terms of Somero's 2010 Equity Incentive Plan at a price of 116p pence per restricted share unit (RSU) being the closing price on 29 January 2014.
| ||
Name | Existing shareholding | Number of RSU awarded |
Jack Cooney | 4,227,102 shares | 59,977 shares |
Mike Niemela | 108,166 shares | 30,775 shares |
Additionally, 93,294 RSU were granted to 18 other employees below Director level. The total number of RSU granted on 29 January was therefore 184,046 units. The number of shares referred to is the maximum available under the grant and the awarded shares will vest over a three-year period beginning on the date of the grant and require continued employment for the period. The participating Directors and other employees will, following the end of the performance period, be notified as to the extent to which the performance conditions have been met and their awards have vested. | ||
Should an award vest then each restricted stock unit will be satisfied by the issue to the employee of one ordinary share in the Company. | ||
The Company's total issued share capital is 56,425,598 ordinary shares. | ||
Enquires:
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Chris Robinson
Piers Coombs