Last checked at 26 Jan 2018 16:34
STV Group plc
Director Shareholding
26 January 2018
LEI: 21380075GOOTTBDNDJ58
STV Group plc announces that it has today made the following awards to Simon Pitts further to his appointment as Chief Executive Officer in compensation for the incentive awards forfeited at his previous employer:
• An award of 9,589 fully vested shares on appointment;
• An award of 129,796 deferred shares, granted in the form of conditional nil-cost share awards under the STV Group plc Long-Term Incentive Plan ("LTIP"), vesting in phases over the period to 2021;
• An LTIP award of 210,662 shares, granted in the form of conditional nil-cost share awards which will, subject to the satisfaction of the performance conditions set out below, vest in March 2020.
The awards were granted at a price of 309.5 pence per ordinary share (the closing share price on 25 January 2018).
Performance conditions | Weighting | Threshold vesting | Max vesting |
Growth in EPS | 50% | 7% | 12% |
Non-broadcast operating profit in FY 19 | 30% | £4.0m | £9.0m |
TSR relative to the FTSE Small Cap Index | 20% | Median | Upper quartile |
Performance period for each metric commences on 1/1/17 and ends on 31/12/19
Ends
Further enquiries:-
Jane E A Tames, Company Secretary, STV Group plc
Tel: 0141 300 3074
Ellen Drummond, PR & Communications Manager, STV Group plc
Tel: 07803 970143